600 Church St, Gibsonville, NC 27249-2150

This 18-unit apartment building, Eden Place Apartments, presents a compelling investment opportunity in Gibsonville, North Carolina. Situated on a 1.63-acre lot, the property boasts a total of 71,002 square feet, with 14,750 square feet of net rentable space. Built in 1972, the property currently enjoys a 94.4% occupancy rate, demonstrating strong demand. The average unit size is 819 square feet, and the average scheduled rent is $944 per month. Fourteen of the eighteen units have recently undergone interior updates, showcasing the potential for rent growth through renovations. The property's location offers convenient access to both the Piedmont Triad and Research Triangle, benefiting from the rapid job growth and escalating housing costs in these areas. Further value-add potential exists through completing upgrades to the remaining units and exploring the possibility of constructing additional units on the existing land. This well-maintained property offers a proven value-add strategy and is ideally positioned for attractive returns.