Ground-Level Multifamily Income
601 Main Street Lillington, NC 27546
For Sale
$4,950,000
MULTI_FAMILY - Lillington, NC
Property Size46,400 SF
Lot Size7.10 Acres
Price / SF$106.68
Days on Market168
Property Features for 601 Main Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Apartment
- Zoning
- RA-30
- Bedrooms
- 71
- Bathrooms
- 88
- Rooms
- Bathroom 30, Bathroom 80, Bathroom 5, Bathroom 67, Bathroom 65, Bathroom 37, Bathroom 40, Bathroom 101, Bedroom 21, Bathroom 48, Bathroom 81, Bedroom 59, Bedroom 2, Bathroom 28, Bathroom 12, Bedroom 33, Bathroom 58, Bedroom 15, Bedroom 34, Bedroom 10, Bathroom 55, Bathroom 79, Bedroom 30, Bathroom 72, Bathroom 95, Bedroom 60, Bedroom 32, Bathroom 98, Bathroom 35, Bathroom 73, Bathroom 29, Bathroom 64, Bedroom 48, Bedroom 45, Bathroom 91, Bedroom 62, Bedroom 52, Bedroom 71, Bathroom 75, Bathroom 25, Bedroom 35, Bedroom 18, Bathroom 17, Bathroom 23, Bathroom 38, Bathroom 102, Bathroom 77, Bathroom 83, Bedroom 17, Bedroom 47, Bathroom 15, Bathroom 89, Bedroom 22, Bathroom 3, Bathroom 56, Bedroom 44, Bathroom 70, Bathroom 90, Bedroom 28, Bedroom 67, Bedroom 26, Bedroom 25, Bedroom 29, Bathroom 84, Bathroom 13, Bathroom 22, Bedroom 27, Bedroom 61, Bedroom 66, Bathroom 66, Bedroom 42, Bathroom 14, Bathroom 69, Bathroom 100, Bathroom 45, Bathroom 71, Bathroom 104, Bathroom 44, Bathroom 7, Bedroom 38, Bedroom 53, Bathroom 2, Bathroom 68, Bedroom 49, Bedroom 65, Bedroom 69, Bedroom 41, Bedroom 58, Bedroom 11, Bathroom 6, Bathroom 18, Bedroom 56, Bathroom 24, Bathroom 59, Bathroom 27, Bathroom 54, Bathroom 74, Bedroom 57, Bathroom 85, Bedroom 20, Bedroom 4, Bedroom 43, Bedroom 50, Bathroom 1, Bathroom 52, Bedroom 7, Bathroom 31, Bedroom 64, Bedroom 23, Bathroom 62, Bathroom 78, Bathroom 103, Bathroom 32, Bathroom 34, Bathroom 92, Bathroom 4, Bathroom 42, Bathroom 10, Bathroom 33, Bathroom 60, Bathroom 11, Bedroom 16, Bathroom 63, Bathroom 93, Bathroom 99, Bathroom 49, Bedroom 9, Bedroom 24, Bedroom 14, Bathroom 87, Bedroom 19, Bathroom 21, Bedroom 8, Bathroom 76, Bathroom 26, Bedroom 46, Bathroom 61, Bathroom 94, Bedroom 70, Bathroom 39, Bathroom 43, Bedroom 63, Bedroom 1, Bedroom 36, Bedroom 55, Bedroom 3, Bathroom 8, Bathroom 86, Bedroom 6, Bedroom 39, Bedroom 13, Bathroom 47, Bathroom 20, Bedroom 68, Bathroom 57, Bedroom 5, Bathroom 9, Bathroom 88, Bathroom 36, Bathroom 50, Bathroom 53, Bedroom 37, Bathroom 82, Bathroom 46, Bathroom 51, Bathroom 97, Bathroom 41, Bedroom 51, Bathroom 16, Bedroom 31, Bedroom 12, Bathroom 96, Bedroom 40, Bedroom 54, Bathroom 19
- Exterior features
- Storage
- Appliances
- Dishwasher, Dryer, Electric Cooktop, Refrigerator, Washer, Water Heater
- Standard status
- Active
- APN
- 0670-86-6402.000/ 0670-86-7395.000
- Size
- 46,400 SF
- Lot size
- 7.10 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Description
- 1.26AC PC#F-450C 5.843AC L C PULLEY MAP#98-248
- Tax Annual Amount
- 29817
Utilities
- Sewer type
- Public Sewer
- Heating system
- Forced Air, Central
- Cooling system
- Heat Pump, Electric, Central Air
- Water source
- Public
Building Details
- Year built
- 1999
- Floors in Building
- 2
- Number of units
- 4
- Flooring type
- Vinyl, Carpet
- Building materials
- Brick Veneer, Frame, Vinyl Siding
- Roof type
- Asphalt
- Additional Structures
- Storage
Listing Agency:
Turlington Real Estate Group
(910) 892-0463
Listed By:
Lucia Turlington · License #265256
(919) 697-6905
Added: Feb 8
Changed: Jul 24
Last Checked: Jul 26 at 5:06AM
MLS# 10145383
Copyright © 2026 Doorify MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This multifamily income property features vinyl and brick exterior construction on a slab, with all units offering ground-level entrance access. The current unit mix includes two 1 bed / 1 bath units, thirty-three 2 bed / 2.5 bath units, and one 3 bed / 3 bath unit. Each unit is individually metered and served as all-electric, and includes a fridge, stove, washing machine, dryer, and access to a garbage dumpster, along with ground care. There is also an onsite office currently used for storage by the property management and maintenance crew.
The building has parking available for occupants and visitors. The property has been maintained as work orders are submitted, with all new roofs completed in 2016 and additional updates to AC units and appliances as needed. Approximately 50% of units have had LVP flooring installed on the main level and in the bathrooms, with carpet replaced as needed. Units maintain tenant deposits in trust.
In addition, the offering includes 2.85 acres of cleared land for 24 additional units, comprised of four buildings with six units each. Harnett County has addressed the additional units, and plans are in hand; utilities are located at the road and the plans will be conveyed to the buyer at closing. The property is zoned RA-30.
The building has parking available for occupants and visitors. The property has been maintained as work orders are submitted, with all new roofs completed in 2016 and additional updates to AC units and appliances as needed. Approximately 50% of units have had LVP flooring installed on the main level and in the bathrooms, with carpet replaced as needed. Units maintain tenant deposits in trust.
In addition, the offering includes 2.85 acres of cleared land for 24 additional units, comprised of four buildings with six units each. Harnett County has addressed the additional units, and plans are in hand; utilities are located at the road and the plans will be conveyed to the buyer at closing. The property is zoned RA-30.
Key Highlights
- Established 1999‑built multi‑family with 100% occupancy year after year and rent increases each year (per remarks).
- Unit mix: 1 bed/1 bath (2 units), 2 bed/2.5 bath (33 units), and 3 bed/3 bath (1 unit); all ground‑level entrances.
- All‑electric units with each unit individually metered; public water and public sewer; provided appliances include refrigerator, washer/dryer, and electric cooktop.
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $584.6k | $12.60 |
| − Vacancy | −$43.8k | −$0.95 |
| EGI | $540.8k | $11.66 |
| − OpEx | −$162.2k | −$3.50 |
| NOI | $378.6k | $8.16 |
46,400 SF · lease $12.60/SF/yr · vacancy 7.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$5.41M
$4.73M – $6.31M
NOI $378,554 @ 7.0% cap · market cap 7.65%
Second Best
Apartment 5plus
$5.02M
$4.39M – $5.85M
NOI $351,061 @ 7.0% cap · market cap 7.09%
Theoretical Best
Office A
$10.10M
$8.84M – $11.78M
NOI $707,047 @ 7.0% cap · market cap 14.28%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Harnett County Schools
School District Office
Meredith Square Townhomes
Townhouse Complex
FAQs
What type of property is this?
Quadplex - Multifamily property with ground-level unit entrances, individually metered all-electric service, and included in-unit appliances.
Where is this quadplex located?
The property is located at 601 Main Street Lillington, NC.
What is the asking price?
The asking price for this property is $4,950,000.
What are key features of this property?
This property features: Established 1999‑built multi‑family with 100% occupancy year after year and rent increases each year (per remarks).; Unit mix: 1 bed/1 bath (2 units), 2 bed/2.5 bath (33 units), and 3 bed/3 bath (1 unit); all ground‑level entrances.; All‑electric units with each unit individually metered; public water and public sewer; provided appliances include refrigerator, washer/dryer, and electric cooktop.
