221 Quintas Ave NC Assigned

  • $299,000
  • 3,429 sqft
Assigned

221-Quintas-Ave-Property-Report-E7CFS (7)

PROPERTY ANALYSIS LINK

5 Unit investment opportunity!   Located in Burlington, NC in a quiet neighborhood and directly across the street from a beautiful park and baseball diamond with a large car port and open spaces.  Current market rents generate a pro forma Cap Rate of 10.8%!  And a potential to produce $44,880+ per year in top line revenue! 

This 5 unit property consists:
4 – 1bd/1ba
1 – 2bd/1ba
100% occupied with tenants paying all the utilities!    

5 Unit Mix 
4 – 1bd/1ba
1 – 2bd/1ba

Current Rents:
3 – 1bd/1ba are rented at $375
1 – bd/1ba rented at $450
1 – 2bd/1ba is rented at $425
All leases are currently month-to-month.

Market/Proforma Rents:
1bd/1ba – $695-$800
2bd/1ba – $750-$950
Please see rental comparison report attached

2021 Operating and Capital Expenditures:
Mowing – $1,850
Taxes and Insurance – $4,607
Repairs – $14,940
(includes a NEW ROOF for $11,000 and new water heater in Unit B)

Square Footage: 3,429

Occupancy: 100% Occupied

Year Built: 1950 (updated in 1990)

Utilities: Tenants pay for all utilities.

Management: Currently self-managed, but a local property management company can step in and manage this one for the next owner.

Off-Market Investment Opportunity 

Fix & Flip or Handyman Special!

More Pictures Coming Soon!

We are selling our assignable purchase agreement on this property.

All offers will be taken into consideration. Send Your Highest and Best Offer.

Please do your own due diligence!

Realtors: If you are currently working with a client, and wish to receive a commission, please note that the asking price does not include your commission. You may want to negotiate a commission with your client separate from the asking price or may adjust the asking price upwards to include your commission.

$2,500 Non-Refundable Earnest Money Required to secure the property.

Contact: 919-642-1808 or info@bluetopfinancial.com

Disclaimer: Please do your own due diligence. House is being sold as-is, and buyer is to pay all closing costs. Price based on a cash or hard money offer. All properties offered are either owned by Blue Top Equities LLC, under contract and selling equitable interest, or offered in conjunction with a business associate. All offers on properties require a $2500 non-refundable earnest deposit and 10 day close of escrow. No waiting for a response. We respond immediately to an offer. Equal Opportunity Housing. If You or Your entity does ANYTHING to jeopardize the contract between Blue Top Equities LLC and seller of property, including but not limited to marketing the property without authorization, putting the property on craigslist, or going to the property without permission YOU or Your ENTITY WILL BE HELD PERSONALLY RESPONSIBLE FOR DAMAGES OF TOTAL PROJECTED PROFIT MARGINS.

Submit Your Offer

Please fill out the form below with your highest and best offer. You will receive a confirmation if your offer is accepted with instructions on the next steps!
  • How quickly can you close?
  • Your best offer
  • We look forward to working with you!
  • This field is for validation purposes and should be left unchanged.

Price:
$299,000
Address:
221 Quintas Ave, Burlington
Burlington, NC 27215
Square Feet:
3,429
Terms:
Assignment of Contract
Property Type:
Multi-family
Year Built:
1950

Call 1-844-394-3277 for more details

Property Location