309/311 Watson Street #309 & 311 Active Save Request In-Person Tour Request Virtual Tour
Creedmoor,NC 27522
Key Details
Property Type Multi-Family
Sub Type Duplex
Listing Status Active
Purchase Type For Sale
Square Footage 2,500 sqft
Price per Sqft $184
Subdivision Dutchville
MLS Listing ID 10054514
Style Duplex
Bedrooms 6
Full Baths 4
Half Baths 2
Year Built 2003
Annual Tax Amount $4,259
Lot Size 0.610 Acres
Property Description
Investor special with huge Value Add potential! Current owner has long term tenants with below market rents in high growth areas. A new owner can realize a significant upside and could reach a 7.25 prcnt Cap rate with small investment in items like new flooring and paint and bringing the units up to current market rates estimated to be $1,795.
This income producing duplex is part of a portfolio of 6 buildings which include 12 leased units. 309 and 311 Watson St include 2 units in the same duplex, each features 3 beds 2.5 baths each and a total of 2,500 square feet . This property can only be sold as part of the portfolio listed at $2,695,000 with a 6 prcnt Cap rate. Buildings sold as part of this portfolio are listed under the following MLS numbers: 10054463, 10054486, 10054497, 10054505, 10054522
Creedmoor, NC, is a charming small town in Granville County experiencing steady growth due to its proximity to major metropolitan areas like Raleigh and Durham, both just a 22 -minute drive away. It's conveniently located near I-85, Hwy 50, and Hwy 98, with additional benefits from the completion of I-885, enhancing connectivity to the region. Known for its peaceful atmosphere and affordable living, Creedmoor is attracting individuals seeking suburban comfort with easy access to urban amenities. The town benefits from steady employment opportunities in nearby Research Triangle Park and the greater Raleigh-Durham area, driving local job growth.
Creedmoor's tight-knit community and scenic surroundings make it a desirable place to live while staying connected to the Triangle's economic hub.
Investing in income-producing duplexes is a smart move, especially in today's market. Duplexes offer the unique advantage of generating rental income from two units on a single property, increasing your cash flow potential. As demand for affordable housing continues to rise, particularly in growing markets like the Triangle, duplexes appeal to both tenants and investors due to their affordability and versatility.
Please, no tours, as tenants do not want the property shown.
Tours by appointment only. Do not knock on the doors of these units.
Location
State NC
County Granville
Interior
Heating Central
Cooling Central Air
Flooring Carpet,Vinyl
Laundry Electric Dryer Hookup,Washer Hookup
Exterior
Exterior Feature None
Fence None
Community Features None
Utilities Available Cable Connected,Electricity Connected,Water Connected
View Y/N Yes
Roof Type Shingle
Building
Story 2
Foundation Block
Sewer Public Sewer
Water Public
Structure Type Vinyl Siding
New Construction No
Others
Special Listing Condition Standard