Turnkey Six-Unit Multifamily
For Sale
$549,000
1001 W Orange St, Fayetteville, NC 28301
Fully renovated six-unit property with new roof, mini-split HVAC, and updated interiors for hands-off ownership.
Property Size3,564 SF
Days on Market57
Property Features for 1001 W Orange St
General Information
Standard status
Active
Size
3,564 SF
Property subtype
Multifamily
Occupancy
100%
Financials
Cap Rate
9.5%
Business Included
Yes
Additional Details
Multifamily Units
6
Building Details
Building Size
3,564 SF
Year Built
1953
Listing Agency:
GRANT-MURRAY REAL ESTATE, LLC.
(910) 797-1910
Listed By:
Steve Hogan · License #214644
(910) 797-1910
Source:
Grantmurrayre
Added: Jun 29
Changed: Aug 21
Last Checked: Aug 24 at 3:15AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of GRANT-MURRAY REAL ESTATE, LLC.
Investment Insights
Based on property information with market context.
This fully renovated six-unit multifamily building is presented as a turnkey investment with 100% occupancy. The renovation program includes a new roof, replacement windows, exterior paint, mini-split HVAC systems, updated cabinetry and countertops, new flooring, and modern lighting fixtures throughout the units. Interior improvements are complemented by additional upgrades noted as part of a comprehensive scope, with the goal of reducing future capital expenditures.
The property is currently operating with strong day-to-day stability as reported in the offering materials, generating $70,752 in gross annual income and $52,260 in net operating income. The remarks also indicate no deferred maintenance and that the units are professionally maintained.
For investors or buyers seeking a low-maintenance addition to their portfolio, this asset offers updated building systems and completed interior renovations across all six units. The provided financial snapshot supports the stated 9.5% cap rate and is intended to reflect immediate income generation with ongoing operating costs consistent with current performance. Buyers can evaluate the property as-is based on the completed improvements, current occupancy, and reported income and NOI figures.
The property is currently operating with strong day-to-day stability as reported in the offering materials, generating $70,752 in gross annual income and $52,260 in net operating income. The remarks also indicate no deferred maintenance and that the units are professionally maintained.
For investors or buyers seeking a low-maintenance addition to their portfolio, this asset offers updated building systems and completed interior renovations across all six units. The provided financial snapshot supports the stated 9.5% cap rate and is intended to reflect immediate income generation with ongoing operating costs consistent with current performance. Buyers can evaluate the property as-is based on the completed improvements, current occupancy, and reported income and NOI figures.
Key Highlights
- Fully renovated six‑unit multifamily property built in 1953
- 100% occupancy with gross annual income of $70,752 and net operating income (NOI) of $52,260
- Strong 9.5% cap rate based on current operations
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$29,913
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.45%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$598,260
$598.3K
Cap Rate 7%
$427,329
$427.3K
Cap Rate 9%
$332,367
$332.4K
Market Conditions
NOI Build-Up for 3,564 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$57.7K $16.20/SF
− Vacancy
−$3.3K −$0.94/SF
EGI
$54.4K $15.26/SF
− OpEx
−$24.5K −$6.87/SF
NOI
$29.9K $8.39/SF
Area
Fayetteville, NC
Vacancy
5.80%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$598,260
Cap Rate 7%
$427,329
Cap Rate 9%
$332,367
Alternative Uses
Best Use
Apartment 5plus
$427.3K
$373.9K – $498.6K
NOI $29,913 @ 7.0% cap · market cap 5.45%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$781.1K
$683.4K – $911.3K
NOI $54,675 @ 7.0% cap · market cap 9.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
100%
Occupancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
535
Businesses Nearby
Explore this area
Business Placement
Demographics for 28301, NC
17,670
Population
8,590
Households
2.1
Avg Household Size
35
Median Age
17%
College-Educated
88%
High-School Grad
12.4 sq mi
ZIP Area
1,425
Density / Sq Mi
$36,955
Median Household Income
$28,350
Median Earnings
$926
Median Rent
$109,900
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Fully renovated six-unit property with new roof, mini-split HVAC, and updated interiors for hands-off ownership.
Where is this apartment building located?
The property is located at 1001 W Orange St Fayetteville, NC.
What is the asking price?
The asking price for this property is $549,000.
What are key features of this property?
This property features: Fully renovated six‑unit multifamily property built in 1953; 100% occupancy with gross annual income of $70,752 and net operating income (NOI) of $52,260; Strong 9.5% cap rate based on current operations
