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$850,000

514 And 520 Wilkie Street Franklin, NC 28734
24 Beds 10,300 Sq. Ft
23 Full Baths
Courtesy Of American Real Estate Services
MLS# 10300038
PROPERTY DESCRIPTION: 
This is a beautiful commercial rental property built by one of the region's best general contractors, is 2.6 acres in total. The 3 quadruplex units and a stand-alone house are a brief ride from eclectic and historic downtown Franklin, NC. While, the property is within the Franklin city limits and conveniently located for the downtown area and other local amenities, the area is residential and evokes the local mountain and pasture beauty.\nThe primary rental portion of the property is comprised of 3 quadruplex units: Buildings A, B, and C. All of the buildings are 2 stories, featuring 2 units on the upper floor and 2 units on the lower floor. The upper units of all 3 buildings feature a deck. Building A was built in 1980; Building B was completed in 1981; and Building C was finished in 1986. Building A contains 3, 2 bedroom and 1 bathroom units (800 square feet each) and 1, 1 bedroom and 1 bathroom unit (700 square feet). Building B contains 3, 2 bedroom and 1 bathroom units (800 square feet each) and 1, 1 bedroom and 1 bathroom unit (700 square feet). Building C contains 4, 2 bedroom and 2 bathroom units. Both Building A and Building B feature a shared foyer and internal unit entrances. Building C features separate external entrances for each unit. Both Buildings A and B house a utility room furnished with a coin-operated washer and dryer for tenant convenience and added owner income. These utility rooms also feature closet storage spaces assigned to each unit. Each unit of Building C features its own washer and dryer equipment. All of the units are furnished with standard kitchen appliances, including: a range oven, a refrigerator, a dishwasher, and a garbage disposal. All units feature central electric heating.\nThe 3 quadruplexes share a parking lot with 2 assigned spaces available per unit and a circle drive with an entrance on Wilkie Street and an exit on Trimont Trail. The property also has a fenced trash and recycling area. The entire property is connected to city water and city sewer. Behind Building C is 2 metal storage buildings for housing unit and site maintenance equipment.\nAll of the buildings are regularly updated and maintained. The exterior walls have recently been painted. The decks of the balconies have been replaced and painted as well. Several of the units have been updated with fresh interior paint, new carpeting, and new kitchen appliances. No smoking or animals are permitted in the units, and each unit is evaluated for maintenance and updating whenever a tenant may move. At current lease rates, the expected full-occupancy income for the 3 quadruplexes is $6175 per month.\nAdjacent to the quadruplexes, and included in this offer, is a single-resident home. The house was constructed in 1961 and has been regularly updated and remodeled. The home is a 900 square foot ranch-style 2 bedroom and 1 bathroom. The house features a single carport with a separate driveway from the quadruplex units. This property also features a nice front porch. This house makes an excellent residence for the owner, super, or property manager; or, can be used as added rental income for a current lease rate of $600 per month.\nThis offer also includes an area of open land adjacent to the existing quadruplexes. This land has plenty of space for further development. The property is an excellent source of income for a local or distant owner. Additionally, the included house provides an opportunity for any interested in moving to the mountains and still having a regular income. Please visit http://www.listingcheckout.com/rdcd/133819 for an important notice about this property.
FEATURES:
Age: 21-30 Years Old
Architecture Style: Other
Lot Size: 2.6 Acres
Parking Type: Garage
Roof Type: Unknown
Rooms: Bedroom, Full Bath, Kitchen

Franklin, NC Real Estate & Homes for Sale - 1 Listing Found

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