Pappas Commercial
Address: Fayetteville, NC   Phone: 910-221-5789
Email: peter@pappascommercial.com

1431 Mathau Ct

$ 149,900.00
Income producing investor ready property. Currently Fully Occupied! Two of Three Units have Lease Expirations into 2018.

All units have been updated with new flooring, carpet, paint inside and out. Owner pays water (about $35-40/mo for all 3 units) and yard maintenance. Tenants Pay their own electric. Current Owner will be hooking up city Sewer Q4 2017- and will pay remainder of PWC Utility Assessment at Closing.

Southwest Fayetteville, Just off of Marykirk Drive in Aaron Hills Neighborhood. Quiet cul-de-sac

Highlights

  • 2- 1BR/1BA Apartments- $475/ea
  • 1- 2BR/2BA= $575, Renewal in January 2018 will bump rent to $600/mo
  • Units A&B have W/D Hookup
  • All units have working Fireplace
  • Separate Electric Meters
  • Recently refreshed all three apartments

 

Sale Notes

Income producing investor ready property. Currently Fully Occupied! Two of Three Units have Lease Expirations into 2018.

All units have been updated with new flooring, carpet, paint inside and out.
Owner pays water (about $35-40/mo for all 3 units) and yard maintenance. Tenants Pay their own electric.
Current Owner will be hooking up city Sewer Q4 2017- and will pay remainder of PWC Utility Assessment at Closing.

Southwest Fayetteville, Just off of Marykirk Drive in Aaron Hills Neighborhood. Quiet cul-de-sac

 

 

Unit Mix Information

DescriptionNo. UnitsAvg. Rent/MoSq. Ft.
1+1 2 $475.00 N/A
2+2 1 $587.50 N/A

 

Financial Summary (Pro forma - 2018)

 AnnualAnnual Per SF
Gross Rental Income $18,600 6.64
Other Income - -
Vacancy Loss - -
Effective Gross Income $18,600 6.64
Taxes $2,200 0.79
Operating Expenses $3,180 1.14
Total Expenses $5,380 1.92
Net Operating Income $13,220 4.72

 

Amenities

Unit Amenities 
Air Conditioning Refrigerator
Fireplace Range
Ceiling Fans  

 

Traffic

Collection StreetCross StreetTraffic VolYearDistance
Kincross Ave Bingham Dr, E 2,000 2016 0.09 mi
Kincross Ave Rannock Dr, W 2,172 2010 0.10 mi
Tiree Dr Paisley Ave, E 1,300 2016 0.28 mi
Bingham Dr W Darrow Dr, S 17,557 2010 0.58 mi
Strickland Bridge Rd Kincross Ave, N 12,539 2010 0.60 mi
Address: 1431 Mathau Ct, Fayetteville, 28304, NC
Categories: Properties for Sale, Income Producing
Type: for sale

Land Information

Lot Dimensions: 0.36 AC