Five-Unit Apartment
613 Bellhaven Street, Garner, NC 27529
For Sale
$775,000
Residential Income, Garner, NC
Property Size4,624 SF
Lot Size0.55 Acres
Price / SF$167.60
Days on Market251
Property Features for 613 Bellhaven Street
General Information
Property type
Property subtype
Zoning
Bedrooms
Bathrooms
Full bathrooms
Rooms
Parking features
Subdivision
Standard status
APN
Size
Lot size
Additional Details
Tenant in Place
Taxes and HOA fees
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Tax Annual Amount
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Utilities
Sewer type
Heating system
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Building Details
Year built
Floors in Building
Number of units
Flooring type
Building materials
Roof type
Listing Agency:
Real Triangle Properties LLC
(919) 380-7325
Listed By:
Purvi Thakar
(919) 656-5843
Added: Mar 5
Changed: Oct 23
Last Checked: Nov 10 at 5:06PM
MLS# 10150499
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.
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Investment Insights
Based on property information with market context.
This five-unit apartment property contains 4,624 square feet on a 0.55-acre parcel and was built in 1943. Two units have been renovated, while three are prepared for immediate occupancy. The building features vinyl siding, tile and carpet flooring, forced-air heat, a flat roof, and a dedicated parking lot. Public water and public sewer serve the property, which is designated MF-A zoning and offered in as-is condition.
The property is located behind the Garner Performing Arts Center, approximately 3 miles from the Amazon warehouse in Garner and 7 minutes from shopping and dining. It also provides access to downtown Garner and Raleigh. Unit identifiers include 615 A & B, 609 A & B, 617, and 613.
The property is located behind the Garner Performing Arts Center, approximately 3 miles from the Amazon warehouse in Garner and 7 minutes from shopping and dining. It also provides access to downtown Garner and Raleigh. Unit identifiers include 615 A & B, 609 A & B, 617, and 613.
Key Highlights
- Five‑unit apartment property with 4,624 square feet
- Two units renovated; three units ready for immediate occupancy
- 0.55‑acre site with a dedicated parking lot
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$43,985
Cap Rate
5.68%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$879,700
$879.7K
Cap Rate 7%
$628,357
$628.4K
Cap Rate 9%
$488,722
$488.7K
Market Conditions
NOI Build-Up for 4,624 SF
Gross rent
$84.9K $18.36/SF
− Vacancy
−$4.9K −$1.06/SF
EGI
$80.0K $17.30/SF
− OpEx
−$36.0K −$7.78/SF
NOI
$44.0K $9.51/SF
Area
Wake County, NC
Vacancy
5.80%
Lease Rate
$18.36 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$879,700
Cap Rate 7%
$628,357
Cap Rate 9%
$488,722
Alternative Uses
Best Use
Apartment 5plus
$628.4K
$549.8K – $733.1K
NOI $43,985 @ 7.0% cap · market cap 5.68%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$1.17M
$1.03M – $1.37M
NOI $82,045 @ 7.0% cap · market cap 10.59%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
535
Businesses Nearby
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Business Placement
Demographics for 27529, NC
54,250
Population
22,089
Households
2.5
Avg Household Size
39
Median Age
41%
College-Educated
93%
High-School Grad
57.7 sq mi
ZIP Area
940
Density / Sq Mi
$86,426
Median Household Income
$47,686
Median Earnings
$1,379
Median Rent
$325,600
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Multifamily property with two renovated units, three ready for occupancy, and public water and sewer service.
Where is this apartment building located?
The property is located at 613 Bellhaven Street Garner, NC.
What is the asking price?
The asking price for this property is $775,000.
What are key features of this property?
This property features: Five‑unit apartment property with 4,624 square feet; Two units renovated; three units ready for immediate occupancy; 0.55‑acre site with a dedicated parking lot
