Bought with Hodge & Kittrell Sotheby's Int
$450,000
$425,000
5.9%For more information regarding the value of a property, please contact us for a free consultation.
SOLD DATE : 09/25/2023
Key Details
Sold Price $450,000
Property Type Multi-Family
Sub Type Duplex
Listing Status Sold
Purchase Type For Sale
Subdivision Not In A Subdivision
MLS Listing ID 2527762
Sold Date 09/25/23
Originating Board Triangle MLS
Year Built 1985
Annual Tax Amount $2,632
Property Description
This duplex at 613/615 Wait Ave, is located in close proximity to downtown Wake Forest and the campus of Southeastern Baptist Theological Seminary. Built in 1985, the two-story design features two identical townhome-style floorplans. Each unit has two-bedrooms, two-and-a-half-bathrooms, and its own garage. Both units at the property are currently occupied and are on month-to-month leases. Current rents are well below market but could be increased significantly with light value-add improvements as the units have been well-maintained. Current ownership has made recent improvements to the property that include the following: new roof (2019), new water heaters (2019), new windows (2019), and new rear decks (2021). The property has polybutylene plumbing. This offering presents an opportunity for an investor to acquire a well maintained duplex with significant income upside in a highly-sought after location.
Location
State NC
County Wake
Direction Heading north on Franklin St, turn right onto Wait Ave and property will be on the left.
Rooms
Basement Crawl Space
Interior
Heating Forced Air, Natural Gas
Cooling Central Air
Flooring Carpet, Tile
Exterior
Parking Type Off Street
Garage No
Private Pool No
Building
Faces Heading north on Franklin St, turn right onto Wait Ave and property will be on the left.
Sewer Public Sewer
Water Public
Structure Type Vinyl Siding
New Construction No
Schools
Elementary Schools Wake County Schools
Middle Schools Wake County Schools
High Schools Wake County Schools
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