Four-Unit Apartment
104 Ridge Pl, Greenville, NC 27834
For Sale
$200,000
Pending
Two-story income property with a one-bedroom, one-bath layout in each residence.
Property Size2,220 SF
Days on Market95
Property Features for 104 Ridge Pl
General Information
Standard status
Size
Property subtype
Building Details
Year Built
Listing Agency:
Century 21 The Realty Group
Listed By:
Tahaia (Kunny) Brothers · License NC #212607
(252) 531-1872
Source:
Augustaaikenhomefinder
Added: Aug 12
Changed: Nov 13
Last Checked: Nov 10 at 11:19AM
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 Century 21 The Realty Group
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Investment Insights
Based on property information with market context.
Built in 1978, this four-unit apartment property contains 2,220 square feet on a single parcel in Greenville, NC. The configuration includes four one-bedroom, one-bath residences, with two apartments on the upper level and two on the lower level.
Units C and D are occupied, while Units A and B are positioned for additional leasing. The property offers a straightforward multifamily layout with a combination of existing occupancy and units available for future leasing. Its address is 104 Ridge Pl, Greenville, NC 27834.
Units C and D are occupied, while Units A and B are positioned for additional leasing. The property offers a straightforward multifamily layout with a combination of existing occupancy and units available for future leasing. Its address is 104 Ridge Pl, Greenville, NC 27834.
Key Highlights
- Four one‑bedroom, one‑bath apartment units
- 2,220‑square‑foot multifamily property
- Two upper‑level and two lower‑level units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,820
Cap Rate
7.41%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$296,400
$296.4K
Cap Rate 7%
$211,714
$211.7K
Cap Rate 9%
$164,667
$164.7K
Market Conditions
NOI Build-Up for 2,220 SF
Gross rent
$22.6K $10.20/SF
− Vacancy
−$1.5K −$0.66/SF
EGI
$21.2K $9.54/SF
− OpEx
−$6.4K −$2.86/SF
NOI
$14.8K $6.68/SF
Area
Pitt County, NC
Vacancy
6.50%
Lease Rate
$10.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$296,400
Cap Rate 7%
$211,714
Cap Rate 9%
$164,667
Alternative Uses
Best Use
Multifamily LT 5
$211.7K
$185.3K – $247.0K
NOI $14,820 @ 7.0% cap · market cap 7.41%
Second Best
Apartment 5plus
$197.2K
$172.5K – $230.0K
NOI $13,802 @ 7.0% cap · market cap 6.90%
Theoretical Best
Office A
$483.3K
$422.9K – $563.8K
NOI $33,829 @ 7.0% cap · market cap 16.91%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
313
Businesses Nearby
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Business Placement
Demographics for 27834, NC
55,051
Population
27,368
Households
2
Avg Household Size
34
Median Age
28%
College-Educated
88%
High-School Grad
174.3 sq mi
ZIP Area
316
Density / Sq Mi
$48,081
Median Household Income
$36,755
Median Earnings
$941
Median Rent
$161,700
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - Two-story income property with a one-bedroom, one-bath layout in each residence.
Where is this quadplex located?
The property is located at 104 Ridge Pl Greenville, NC.
What is the asking price?
The asking price for this property is $200,000.
What are key features of this property?
This property features: Four one‑bedroom, one‑bath apartment units; 2,220‑square‑foot multifamily property; Two upper‑level and two lower‑level units
