12 Village Terrace Dr
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12 Village Terrace Dr
16 Unit Apartment Building $1,799,900 ($112,494/Unit) 6.19% Cap Rate Rockingham, NC 28379
Investment Highlights
- Recent capital upgrades
- Located near downtown Rockingham
- Wooded/private setting
Executive Summary
This multi-unit property offers strong income potential, with each unit approx. 800 sq. ft., featuring 2 bedrooms, 1 bath. Recent capital improvements include new porches, new roofs, and a new asphalt driveway with parking pads at each unit. Select units also have had recent foundation work, interior upgrades, and new HVAC systems. The property was improved this spring with extensive tree services removing dead trees and improving curb appeal. An on-site laundromat was refreshed with new appliances. This adds a revenue stream for increased profitability. The current owner receives $250+/mo in laundry income. Located near major Rockingham attractions like Discovery Place Kids and the upcoming NASCAR Xfinity Series, the property is positioned for future growth. Tenant information and rent details will be provided for a seamless transition. This is a turnkey investment with immediate cash flow potential. Don't delay! Discover this rock solid ROI potential in Rockingham, NC today!
NO SIGN. DO NOT DISTURB TENANTS!DO NOT visit/walk thru the property without an appointment with the list agent. Copies of rent roll are provided in the attachments. The owner serves as property manager. The owner pays for lights and utilities for the laundry building. Power and all other utilities for units are tenant responsibilities. 15/16 units occupied at time of listing. Laundry brings approx. $60/week. Rental fee was $695/mo Jan-Mar during the renovations phase. Rent is $750/mo for 7 units; $795/mo for 9 units. There is a utility easement on the property. Seller will consider offers with purchase by 1031 exchange, subject to terms.
NO SIGN. DO NOT DISTURB TENANTS!DO NOT visit/walk thru the property without an appointment with the list agent. Copies of rent roll are provided in the attachments. The owner serves as property manager. The owner pays for lights and utilities for the laundry building. Power and all other utilities for units are tenant responsibilities. 15/16 units occupied at time of listing. Laundry brings approx. $60/week. Rental fee was $695/mo Jan-Mar during the renovations phase. Rent is $750/mo for 7 units; $795/mo for 9 units. There is a utility easement on the property. Seller will consider offers with purchase by 1031 exchange, subject to terms.
Property Facts
| Price | $1,799,900 | Apartment Style | Single Family Home |
| Price Per Unit | $112,494 | Building Class | C |
| Sale Type | Investment | Lot Size | 4.70 AC |
| Cap Rate | 6.19% | Building Size | 14,000 SF |
| No. Units | 16 | Average Occupancy | 94% |
| Property Type | Multifamily | No. Stories | 1 |
| Property Subtype | Apartment | Year Built | 1980 |
| Price | $1,799,900 |
| Price Per Unit | $112,494 |
| Sale Type | Investment |
| Cap Rate | 6.19% |
| No. Units | 16 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Single Family Home |
| Building Class | C |
| Lot Size | 4.70 AC |
| Building Size | 14,000 SF |
| Average Occupancy | 94% |
| No. Stories | 1 |
| Year Built | 1980 |
Amenities
- Smoke Detector
Unit Amenities
- Refrigerator
- Range
- Deck
- Porch
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 16 | $772.50 | 704 - 800 |
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PROPERTY TAXES
| Parcel Number | 746201-38-7297 | Improvements Assessment | $465,294 |
| Land Assessment | $64,872 | Total Assessment | $530,166 |
PROPERTY TAXES
Parcel Number
746201-38-7297
Land Assessment
$64,872
Improvements Assessment
$465,294
Total Assessment
$530,166
zoning
| Zoning Code | R-7 (Residential) |
| R-7 (Residential) |
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Blue Sand Realty & Design Llc
12 Village Terrace Dr
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