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Buy&Hold (Multifamily): (37 UNITS) 2476 W RALEIGH BLVD, ROCKY MOUNT, NC 27803 + PENDING SALE

Updated: Apr 4

Multifamily Investment Opportunity





Price

$1,700,000


Exclusive Off-Market Investment Opportunity:

Glen Meadows Apartments in Rocky Mount, NC



Property Overview: Nestled in the heart of Rocky Mount, NC, Glen Meadows Apartments presents a prime investment opportunity in the multifamily market. This unique off-market listing comprises two properties located at 1038 & 2476 W Raleigh Blvd, totaling 37 rental units. This opportunity is a gateway to owning a substantial portion of Rocky Mount’s burgeoning rental market.


Investment Highlights:

  • Asking Price: $1.7 Million

  • Down Payment: $500,000

  • Financing Structure: $6,000/month for 48 months, with a balloon payment concluding the term.

  • Cash Offer Preference: The seller is particularly interested in a cash offer of $1.7M to expedite the acquisition process.


Financials & Performance:

  • Total Rental Income: $197,040

  • Expenses: $73,393.70

  • Net Operating Income (NOI): $123,646.39

  • CAP RATE: 7.2%


Included with this investment proposal are the year-end income and expense statements, along with a 6-month trailing rent roll, illustrating the property’s robust financial health and occupancy rates. Glen Meadows Apartments boasts consistent revenue growth, underpinned by a strong occupancy history, indicating a lucrative investment with substantial upside potential.


Value-Add Opportunity: A significant value-add opportunity exists in adjusting the current rents to meet market value, which has been identified as a strategic approach to enhance the property’s revenue stream further. This adjustment is expected to boost the financial performance and increase the property's overall value, making this an even more appealing investment.


Offer Submission: We invite dedicated multifamily investors to explore this rare off-market opportunity. All offers and inquiries should be directed to investments@promiselandrealtyllc.com. We seek investors who recognize the inherent value and potential of this property and are prepared for a straightforward acquisition process.


Why Invest in Glen Meadows Apartments?

  • Strategic Location: Centrally located in the expanding city of Rocky Mount, experiencing rising demand for rental accommodations.

  • Solid Financials: Demonstrated track record of high occupancy and income, backed by detailed financial documentation.

  • Value-Add Potential: Opportunity to increase revenue by aligning rents with current market rates.

  • Flexible Financing: Willingness to consider structured payments, with a strong preference for a cash transaction to facilitate a seamless sale.

Glen Meadows Apartments is an exceptional opportunity to either start or expand your investment portfolio in the multifamily sector. With strong financials, a strategic location, value-add potential, and the promise of a significant return on investment, this property is poised for success. Take advantage of this exclusive off-market deal to position yourself for prosperity in the vibrant Rocky Mount rental market.


Property Map



"YOUR #1 SOURCE FOR OFF MARKET INVESTMENTS PROPERTIES, NATIONWIDE"





PROMISE LAND REALTY, LLC

Work: 864-762-2509


All Off Market Properties are sold 'As-Is'. Buyer must do their due diligence. Sold on warranty deed. We are selling our assignable interest. You do NOT HAVE PERMISSION to market this property WITHOUT EXPRESSED WRITTEN CONSENT. Proof of Funds is required with all offers. Earnest Money Deposit due within 48 hours of accepted offer. Closings are done quickly and with a title company/closing attorney. Realtors add your fee on top.

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