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 Market103
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.
Listed By:
Steve Hogan · License #214644
(910) 797-1910
Source:
Grantmurrayre
Added: Jun 29
Changed: Oct 7
Last Checked: Oct 7 at 10:44AM
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 / Yr
$29,913
Cap Rate
5.45%
Suggested Prices Based on Cap Rates
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
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 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
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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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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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
