1914 Millan Drive, Fayetteville NC 28305

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Pending

$472,000

1914 Millan Drive, Fayetteville, NC 28305

bedrooms

bathrooms

square feet

Acreage

Open Houses

year built

1952

Full Baths

Half Baths

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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).

Location
Subdivision	Haymount
County	Cumberland
Elementary School	Vanstory Hills Elementary (3-5)
Middle School	Max Abbott Middle School
High School	Terry Sanford Senior High

Driving directions

Open houses

None scheduled.

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MLS number: 733204

Listing agent: Matthew Barrett #304186

Listing broker: Coldwell Banker Advantage (910) 483-5353

Copyright © 2024 Longleaf Pine Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified. [source]

Last update: Tuesday, November 26 2024 at 12:58 p.m. EST

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