427 A Arbor Drive, Waxhaw, NC 28173
- $575,000
- 6
- BD
- 2,640
- SqFt
- List Price
- $575,000
- MLS#
- 4415402
- Status
- ACTIVE
- Property Type
- Residential Income
- Architectural Style
- Arts and Crafts
- Year Built
- 2021
- Days on Market
- 22
- Bedrooms
- 6
- Full Baths
- 4
- Half Baths
- 2
- Lot Size
- 4,922
- Lot Size Area
- 0.113
- Living Area
- 2,640
- Sq Ft Total
- 2640
- County
- Union
- Subdivision
- No Neighborhood
Property Description
Rare opportunity to acquire a newer-construction, fully occupied duplex in the heart of downtown Waxhaw. Built in 2022, this two-unit property offers approximately 2,624 total square feet, with each residence providing three bedrooms, two-and-a-half baths and approximately 1,320 square feet. Both units feature open-concept main-level living, modern finishes, granite countertops, shaker-style cabinetry, durable laminate flooring on the main level, carpeted bedrooms upstairs, washer/dryer connections and driveway parking. The location is convenient to downtown Waxhaw shopping, dining and community amenities, with the Waxhaw Library just around the corner. Both residences are currently leased at $1,750 per month, producing $3,500 in gross monthly scheduled rent and $42,000 in gross annual scheduled rent. At the $575,000 asking price, that represents an approximate 7.30% in-place gross yield before operating expenses. Gross yield is not a cap rate and does not deduct taxes, insurance, utilities, maintenance, vacancy, management or capital reserves. This is an attractive opportunity for an investor seeking immediate income, two substantial three-bedroom rental residences and a newer multifamily asset in a highly convenient downtown location. Lease documentation and available financial information may be reviewed during due diligence. A companion duplex containing two additional three-bedroom rental units is also being offered separately, creating the opportunity to acquire both buildings as a four-unit portfolio, subject to availability. See companion MLS #4415435. Buyer is always strongly encouraged to verify all property information, square footage, leases, income and expenses. ****virtual staging used! There are mounted sconces represented in the primary bedroom that are not present! that is virtual staging only****
Additional Information
- Community Features
- None
- Interior Features
- Open Floorplan, Pantry, Storage
- Floor Coverings
- Carpet, Laminate
- Equipment
- Dishwasher, Electric Range, Microwave
- Foundation
- Crawl Space
- Laundry Location
- In Unit, Laundry Closet, Main Level, Washer Hookup
- Heating
- Central, Electric, Heat Pump
- Water
- City
- Sewer
- Public Sewer
- Exterior Construction
- Fiber Cement
- Roof
- Composition
- Parking
- Driveway, Parking Space(s)
- Driveway
- Concrete, Paved
- Lot Description
- Sloped
- Elementary School
- Waxhaw
- Middle School
- Parkwood
- High School
- Parkwood
- Special Conditions
- None
Mortgage Calculator
Listing courtesy of David Hoffman Realty Charlotte. megan.banks@davidhoffmanrealty.com
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