591 Margo Rd 4 Unit Apartment Building $1,912,112 CAD ($478,028 CAD/Unit) 8.99% Cap Rate Boone, NC 28607

9% CAP RATE - TWO DUPLEXES, 4 TOTAL UNITS, 16 TENANTS WITH THEIR OWN PRIVATE ROOM / 8 BATHS - WITH PARKING minutes from downtown Boone and the campuses of App State and CCC&TI. Current leases grossing $148,800 annually. With a new roof on 573 and some with recently updated kitchens, counter tops, flooring and fixtures these duplexes are a tremendous turn-key opportunity for any investor in the strong Boone rental market. These units offer ample on-site parking and are close to college campuses, shopping, restaurants, and all Boone has to offer. Floor plans in photos with unit square footage provided by the seller. Current gross rent is $148,800 for the Aug '25 - July '26 lease term. Tenants are responsible for all utilities and trash pickup. 24-hour notice is required for showing. Photos were taken previously, when units were unoccupied. Unit finishes vary slightly. Total square footage represented is from appraiser measurements provided by the seller.
Tax Card shows Margo Rd, not Margot Rd, but street sign is Margot Rd. Records show each duplex is permitted for 4 bedrooms, with research revealing permits setting a capacity of "generally two people per bedroom", which would be 8 people per duplex, and is the number of people leasing each duplex. Speed of internet to be determined by buyer and/or buyer’s agent for suitability. Listing office does not hold earnest money.