Description
PORTFOLIO of 15 homes for sale in Rutherford County, located approximately 1 hour from Asheville and 1.5 hours from Charlotte. Includes 9 homes in Forest City, 3 in Spindale, 2 in Rutherfordton, and 1 in Union Mills. SOLD AS A PACKAGE ONLY! Properties are sold AS IS! DO NOT DISTURB TENANTS! Viewings will need to be arranged after an offer is accepted. The seller recently invested over $100K in improvements including new roofs, painting, HVAC, fixtures, flooring, etc. New ownership, based upon area rent comps, can raise rents up to $14,130/mo. ($3,680/mo. increase). Current ownership is achieving $107,400 in annual NOI (7.67% Cap Rate). With the rent bump, new ownership can achieve an annual NOI of $151,560 (10.83% Cap Rate). The major economic drivers in the Rutherfordton area include manufacturing, healthcare, and tourism. The Rutherfordton area is home to several major employers.
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40BEDS
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7.22ACRES
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15BATHS
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21/2 BATHS
School Information
Offered by Keller Williams South Park: 704-602-0400. Copyright 2023 Canopy MLS. All rights reserved.Description
PORTFOLIO of 15 homes for sale in Rutherford County, located approximately 1 hour from Asheville and 1.5 hours from Charlotte. Includes 9 homes in Forest City, 3 in Spindale, 2 in Rutherfordton, and 1 in Union Mills. SOLD AS A PACKAGE ONLY! Properties are sold AS IS! DO NOT DISTURB TENANTS! Viewings will need to be arranged after an offer is accepted. The seller recently invested over $100K in improvements including new roofs, painting, HVAC, fixtures, flooring, etc. New ownership, based upon area rent comps, can raise rents up to $14,130/mo. ($3,680/mo. increase). Current ownership is achieving $107,400 in annual NOI (7.67% Cap Rate). With the rent bump, new ownership can achieve an annual NOI of $151,560 (10.83% Cap Rate). The major economic drivers in the Rutherfordton area include manufacturing, healthcare, and tourism. The Rutherfordton area is home to several major employers.
Based on information submitted to the MLS GRID as of 2023-09-29T07:34:31.573 UTC. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.The data relating to real estate on this Web site derive in part from the Canopy MLS IDX program. Brokers make an effort to deliver accurate information, but buyers should independently verify any information on which they will rely in a transaction. All properties are subject to prior sale, change or withdrawal. Neither Carlyle Properties nor any listing broker shall be responsible for any typographical errors, misinformation, or misprints, and they shall be held totally harmless from any damages arising from reliance upon this data. This data is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties they may be interested in purchasing. © 2023 Canopy MLS.
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