Wilson NC Multifamily Investment Portfolio

1601 Snowden SE Drive, Wilson, NC 27893

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For Sale

$2,800,000

30-unit multifamily portfolio in Wilson, NC offered for sale.

Type:Commercial/Industrial

Property size:

24,915 SF

Lot size:

3.70 Acres

Price / SF:

$112/SF

We can help!

Contact an agent

Duke Cox

Real Estate License ID: 290291

HighLights

30‑unit multi‑family portfolio in Wilson, NC, a rapidly growing manufacturing hub.
Flexible purchase options: Full portfolio or individual groups of units.
25 of 30 units renovated within the past 5 years.
Gross monthly rent roll of $21,850 with projections of $25,000-$28,000 within 1‑2 years.
Located in a prime rental corridor with strong tenant demand.
Professional property management in place.

For Sale

$2,800,000

30-unit multifamily portfolio in Wilson, NC offered for sale.

Type:Commercial/Industrial

Property size:

24,915 SF

Lot size:

3.70 Acres

Price / SF:

$112/SF

Added:: Dec 2, 2024
Days on Market:: 581
Last Refresh:: May 19 at 8:29 pm

Property Features for 1601 Snowden SE Drive

General Information

Standard status: Active
Size: 24,915 SF
Lot size: 3.70 Acres
Property subtype: Commercial/Industrial

Building Details

Year Built: 1981

We can help!

Contact an agent

Duke Cox

Listing office Real Broker LLC

Listing date Dec 2, 2024

Source Exitrealty

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 Real Broker LLC

HighLights

30‑unit multi‑family portfolio in Wilson, NC, a rapidly growing manufacturing hub.
Flexible purchase options: Full portfolio or individual groups of units.
25 of 30 units renovated within the past 5 years.
Gross monthly rent roll of $21,850 with projections of $25,000-$28,000 within 1‑2 years.
Located in a prime rental corridor with strong tenant demand.
Professional property management in place.

Overview

Offered for sale is a 30-unit multi-family portfolio located in Wilson, NC. The portfolio consists of 15 duplex buildings, including 14 two-bedroom, one-bathroom units and one three-bedroom, one-bathroom unit. The properties are situated in a prime rental corridor with strong tenant demand. Twenty-five of the thirty units have been fully renovated within the past five years, featuring modern finishes. Ample parking is available for residents and visitors. The gross monthly rent roll is $21,850, with projections of $25,000 to $28,000 per month within one to two years. Professional property management is in place. Wilson, NC, is emerging as a manufacturing hub in Eastern North Carolina, attracting job growth, population influx, and rental demand. The portfolio is positioned to capitalize on the area's economic expansion, potentially providing investors with consistent cash flow and long-term value appreciation. This investment is suitable for institutional investors, private equity groups, syndicators, and high-net-worth individuals. The property size is 24915 square feet.

Local Financial Insights For Multifamily LT 5

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$313.9k	$12.60
− Vacancy	−$23.5k	−$0.95
EGI	$290.4k	$11.66
− OpEx	−$87.1k	−$3.50
NOI	$203.3k	$8.16

24,915 SF · lease $12.60/SF/yr · vacancy 7.50% · expense 30.00%

Alternative Uses

Best Use

Multifamily LT 5

$2.90M

$2.54M – $3.39M (±1% cap)

NOI $203,269 @ 7.0% cap · market cap 7.26%

Second Best

Apartment 5plus

$2.69M

$2.35M – $3.14M (±1% cap)

NOI $188,102 @ 7.0% cap · market cap 6.72%

Theoretical Best

Office A

$5.98M

$5.23M – $6.98M (±1% cap)

NOI $418,596 @ 7.0% cap · market cap 14.95%

Zoning and permitted uses should be independently verified with local authorities.

Property Profile Location Intelligence

Current Use by Public Records

Duplexes

Suggested Use

Location Insight

Map
Local Demand

City: Wilson
County: Wilson
State: North Carolina
Longitude: -77.8998
Latitude: 35.7058

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For sale
Duplexes
NC
Wilson
27893
1601 Snowden SE Drive

What type of property is this?

Duplex - 30-unit multifamily portfolio in Wilson, NC offered for sale.

Where is this duplex located?

The property is located at 1601 Snowden SE Drive Wilson, NC.

What is the asking price?

The asking price for this property is $2,800,000.

What are key features of this property?

This property features: 30‑unit multi‑family portfolio in Wilson, NC, a rapidly growing manufacturing hub.; Flexible purchase options: Full portfolio or individual groups of units.; **25 of 30 units renovated within the past 5 years.**