1914 Millan Drive Fayetteville, NC 28305
Listing Courtesy of: FAYETTEVILLE NC / Coldwell Banker Advantage / Matt Barrett

  1914 Millan Drive Fayetteville, NC 28305

Pending (72 Days)

Description

1914 Millan Drive is a core investment multi-family opportunity located in the N. Fayetteville (Terry Sanford/Haymount) Submarket, one of Fayetteville’s premier locations. The subject property (approx. 2,400 Sq. Ft.) is a well-maintained brick quadraplex (4-units) located on 0.43 acres at the end of a Haymount cul-de-sac. All units are 1 bedroom, 1 bathroom, living room, kitchen and laundry room. There is currently one (newly renovated) vacant unit, which compares very favorably to the market average. For that reason, the pro-forma outlook has a $43,800 gross operating income. Furthermore, the N. Fayetteville (Terry Sanford) submarket boasts a 6.4% avg. market cap rate and $1,024 avg. monthly rent for 1-bedroom units, leaving room here for value-add. This pristine quadraplex has been a valued investment and consistently improved. Unit #1 is vacant and recently renovated (rather than re-rented) for the purpose of showings. Units 2-4 are occupied by tenants (leases attached).

MLS #:
733204
Type
Multifamily
Year Built
1952
Style
Two Story
County
Cumberland County
Community
Haymount

Listed By

Matt Barrett, Coldwell Banker Advantage
Source
FAYETTEVILLE NC
Last checked Dec 23 2024 at 5:34 AM EST
Bathroom Details
Interior Features
  • Granite Counters
  • Entrance Foyer
Subdivision
  • Haymount
Lot Information
  • Cul-De-Sac
Heating and Cooling
  • Heat Pump
  • Central Air
  • Electric
Flooring
  • Hardwood
  • Other
  • Luxury Vinyl Plank
Utility Information
  • Utilities: Water Source: Public
  • Sewer: Public Sewer
School Information
  • Elementary School: Vanstory Hills Elementary (3-5)
  • Middle School: Max Abbott Middle School
  • High School: Terry Sanford Senior High
Stories
  • 2
Location
   
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Disclaimer: Copyright 2024 Fayetteville NC MLS. All rights reserved. This information is deemed reliable, but not guaranteed. The information being provided is for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data last updated 12/22/24 21:34