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3425 Martin Ave 5 Unit Apartment Building $476,108 CAD ($95,222 CAD/Unit) Greensboro, NC 27405
Executive Summary
Back on the Market, No Fault of the Seller.
This is a highly distressed five-unit multifamily property offering strong value-add potential for experienced investors prepared to take on extensive renovation and stabilization work. This asset is not turnkey and will require capital investment to reach optimal performance.
The property consists of five total units. Two units are currently occupied on a month-to-month basis at $950 per month.The remaining three units are vacant and have received partial updates, including new flooring, windows, and fresh paint; however, additional work should be expected throughout the property.
Utilities are structured with electric individually metered and paid by tenants, while water, sewer, and trash are owner-paid. The seller has disclosed that no T-12 financials or formal rent roll are available.
Market rents are conservatively estimated at $1,045 per unit, with rental comps available upon request. CASH ONLY!
This is a highly distressed five-unit multifamily property offering strong value-add potential for experienced investors prepared to take on extensive renovation and stabilization work. This asset is not turnkey and will require capital investment to reach optimal performance.
The property consists of five total units. Two units are currently occupied on a month-to-month basis at $950 per month.The remaining three units are vacant and have received partial updates, including new flooring, windows, and fresh paint; however, additional work should be expected throughout the property.
Utilities are structured with electric individually metered and paid by tenants, while water, sewer, and trash are owner-paid. The seller has disclosed that no T-12 financials or formal rent roll are available.
Market rents are conservatively estimated at $1,045 per unit, with rental comps available upon request. CASH ONLY!
Property Facts
| Price | $476,108 CAD | Building Class | C |
| Price Per Unit | $95,222 CAD | Lot Size | 0.61 AC |
| Sale Type | Investment | Building Size | 3,790 SF |
| No. Units | 5 | Average Occupancy | 1% |
| Property Type | Multifamily | No. Stories | 1 |
| Property Subtype | Apartment | Year Built | 1962 |
| Apartment Style | Low-Rise | ||
| Zoning | RM-12 - RM-12 | ||
| Price | $476,108 CAD |
| Price Per Unit | $95,222 CAD |
| Sale Type | Investment |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.61 AC |
| Building Size | 3,790 SF |
| Average Occupancy | 1% |
| No. Stories | 1 |
| Year Built | 1962 |
| Zoning | RM-12 - RM-12 |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Oven
- Tub/Shower
Site Amenities
- 24 Hour Access
- Recycling
- Walking/Biking Trails
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 5 | $1,292 CAD | 758 |
1 1
Property Taxes
| Parcel Number | 0046755 | Improvements Assessment | $228,369 CAD |
| Land Assessment | $87,434 CAD | Total Assessment | $315,804 CAD |
Property Taxes
Parcel Number
0046755
Land Assessment
$87,434 CAD
Improvements Assessment
$228,369 CAD
Total Assessment
$315,804 CAD
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3425 Martin Ave
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