511 S Main St, Fuquay Varina, NC 27526

Property Status: Available | For Sale: $300,000.00

4 Bedrooms / 4 Baths / Multiple Family

Property Photos

4 Condo's or Apartments: Opportunity to be part of the Downtown Fuquay growth

Property Status:
This Property is currently...
  • Status: Available
  • For Sale: $300,000.00
Property Details:
Property Style:
Year Built:
Finished Sq Ft:
No Basement
Owner / Agent:
Owner / Agent
Property Features:
No Property Features Listed.
Contact Info
3 Key Properties
(919) 694-3539

View on Individual's Website
Tons of potential in this 1910 two-story home right on Main Street, just 2 blocks from restaurants, breweries, coffee shops and all that downtown living has to offer. Property has just under 4000 square feet and was converted into 4 apartments in the 1970’s with separate electrical, HVAC and plumbing, and sits on a 0.39-acre lot. The property is almost gutted down to the studs so it’s a blank slate. The numbers below were run on turning the property into 4 sellable Condo’s, but there are many possible exit strategies. As a Condo Conversion, it is considered a commercial rebuild. There is a quiet demand for smaller, efficient, lock-and-leave living options in walkable downtown areas. As condos, these units should sell fast. This is a project for an experienced investor with the potential for a great ROI. Lots of activity and new construction nearby. • New Roof (everywhere except over the porch) • New Windows • Architectural Floor Plans • Structural Engineers Report • Environmental Report Asking Price: $300,000 (or best offer) Repair costs: $250k - $275K for 4 condos (depending upon your finishes). *Always run your own numbers. ARV: $800,000 based on an average of $200K per condo. For more information or to see the house, please contact Jacquie@3KeyProp.com or call 919-694-3539. To See Additional pictures, copy and paste link: https://drive.google.com/open?id=1rI0zU8RvjwNY2IB_Lz8yxnB585sQvAdq

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