Lindsey Lane Apartments is a 10-unit multifamily property consisting of four buildings on ±1.98 acres with a mix of one-, two-, and three bedroom units. 9 of the 10 units have been renovated. Numerous mini-split HVAC installed. This limits any near-term capital needs. Four month-to-month leases provide immediate opportunity to increase rents to market; continuing to implement water reimbursements and garage rentals are additional opportunities to increase NOI. With multiple paths to increase income, Lindsey Lane offers investors an attractive combination of current cash flow and value-add upside.
| MLS # | 4425383 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Year | 1987 |
| Days On Site | 57 |
| Listing Provided By | Britt Commercial Real Estate, LLC | Zach Britt |
| SQ Feet | 8,631 |
|---|---|
| Garage | 6 |
| Units | 10 |
| Acreage | 1.98 |
| Cooling | Ceiling Fan(s), Ductless |
|---|---|
| Heating | Baseboard, Ductless, Kerosene |
| Appliances | Electric Range |
| Roof | Architectural Shingle |
|---|---|
| Construction Materials | Wood |
| Foundation Details | Basement, Slab |
| Garage Yes / No | Yes |
|---|---|
| Parking Features | Driveway, Attached Garage |
| List Aor | Canopy Realtor Association |
|---|
| Property | 812100 |
|---|
| State | NC |
|---|---|
| County | Yancey |
| City | Burnsville |
| Zip Code | 28714 |
| Area | Yancey |
| School District | Unspecified |
| Elementary School | Unspecified |
| High School | Unspecified |
| Listing VS Median (in 28714) | |
Price: $1,450,000 low | high Med: $474,950 sqft: 8,631 low | high Med: 2,338 $ / sqft: $168 low | high Med: $204 On site: 57 low | high Med: 208 | |
| State | NC |
|---|---|
| County | Yancey |
| City | Burnsville |
| Zip Code | 28714 |
| Area | Yancey |
| School District | Unspecified |
| Elementary School | Unspecified |
| High School | Unspecified |
| Listing VS Median (in 28714) | |
Price: $1,450,000 low | high Med: $474,950 sqft: 8,631 low | high Med: 2,338 $ / sqft: $168 low | high Med: $204 On site: 57 low | high Med: 208 | |