101 Santree Dr Williamston, NC 27892
- Apartment buildings
Current Use by Public Records
- Apartment buildings
Property Details for 101 Santree Dr
- Property type
- Apartment buildings
Description
This exceptional investment opportunity presents a portfolio of two 12-unit apartment buildings totaling 24 units in Williamston, NC. Located within an opportunity zone, this fully occupied, stabilized property boasts a strong 8.77% cap rate and a substantial net operating income (NOI) of $122,797. One property, situated on 2.42 acres directly off Highway 17, includes four units in separate buildings, a duplex, and two renovated RVs on concrete pads. Significant recent renovations include new wiring, plumbing, roofing, HVAC systems, and complete interior updates. The property also features a well pump house and ample land for potential expansion, accommodating up to nine additional RV pads. Utilities are included in rent, averaging under $1,000 monthly. The second property, a two-story building on 2.98 acres adjacent to a senior living facility, offers 12 updated units and an additional 2.44 acres for future development. Both properties benefit from long-term tenants and a scarcity of affordable housing in the area. Their proximity (6 minutes apart) simplifies management. The asking price is $1,400,000, or $58,333 per unit. This portfolio offers a compelling combination of immediate income and significant future growth potential. The properties were fully renovated in 2022.
Value Estimation
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CAP approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Williamston
- County
- Martin
- State
- North Carolina
- Longitude
- -77.0764
- Latitude
- 35.8378
