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:
2-Story
Year Built:
1910
Finished Sq Ft:
4,000
Basement:
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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Triangle Real Estate Investors Association is not responsible for the properties or the information listed here. Each Property is independently owned.  Click on the link above to contact the Property Owner about this property.

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