Selig's Jewelers Building 513 E Main St

4 Unit Apartment Building $459,000 ($114,750/Unit) Elizabeth City, NC 27909

INVESTMENT HIGHLIGHTS

  • Very attractive facade
  • Upgraded roof
  • Ample space
  • Historic Building on the Registry
  • Ready for development
  • Renovation potential

EXECUTIVE SUMMARY

Iconic Downtown EC's Selig's building was built in 1927 and has one of the most ornate facades in town. Building is currently 4,611 square feet (83' deep 26' wide)with 15' ceiling height on the first floor and 11'6"-12'6" second floor ceiling height. 2,158 square feet per floor with a 295 sq ft boiler room on the back of first floor. Seller had plans drawn up in 2023 show ability to have 4773 sq ft of area possible by putting a 2nd story on the boiler room. Building was purchased in 2022 with plans to renovate into 675 sf of 1st floor retail with a 2br 1,591 sf apartment in the rear of the 1st floor, redo the existing +/- 520 sf 1br apartment on the front of the 2nd floor and build out a new 1,987 sf 2br apartment in the rear of 2nd floor. Owners have gutted both floors. New rubber membrane roof was installed in 2010.

PROPERTY FACTS

Price $459,000
Price Per Unit $114,750
Sale Type Investment
Sale Condition Building in Shell Condition
No. Units 4
Property Type Multifamily
Property Subtype
Apartment
  • General Retail Storefront Retail/Residential
Building Class B
Lot Size 0.05 AC
Building Size 4,611 SF
No. Stories 2
Year Built/Renovated 1927/2023
Opportunity Zone Yes

UNIT AMENITIES

  • Air Conditioning

SITE AMENITIES

  • Vintage Building
Walk Score®
Very Walkable (79)
Bike Score®
Very Bikeable (73)

PROPERTY TAXES

ZONING

Zoning Code Central Business (Allows majority of commercial and residential uses.)
  • Listing ID: 34007133

  • Date on Market: 11/26/2024

  • Last Updated:

  • Address: 513 E Main St, Elizabeth City, NC 27909