109 Herron Street, Morganton, NC 28655
- $349,999
- 2,692
- SqFt
Listing courtesy of Broadpoint Real Estate Group. joe@broadpointrealestate.com
- List Price
- $349,999
- Status
- ACTIVE
- MLS
- 4425386
- Style
- Traditional
- County
- Burke
- Type
- Multifamily
- Year Built
- 1907
Property Description
Unique investment opportunity located just 2 blocks from Downtown Morganton!! A single-family home along with a separate 2-unit apartment building is being sold together on the same lot for $349,999. All three units are occupied by long-term tenants, providing established rental income from day one. The single-family home currently rents for $1,350/month, while the two apartment units rent for $700/month and $800/month, for a combined rental income of $2,850/month or $34,200 annually. Additionally, there is an attached 480 Sqft. storage area/workshop which could be leased for additional income or possibly turned into additional living space. The location adds to the appeal of tenants with nearby access to a library, a movie theater, parks, walking trails, convenience stores, and Downtown Morganton where you’ll find an array of restaurants, bars, shops, and professional services. In addition, Burke Co. has been coined “Nature’s Playground” because of the State Parks/Trails & the thousands of acres of the Pisgah National Forest. This property is in a key location to access all the adventures the area has to offer plus it is only a five-minute drive to Exit 105 on I-40. The property combines current cash flow with location-driven tenant demand. Don’t miss out on this Morganton multifamily investment opportunity. Call today to schedule your private tour and learn more about this income-producing asset. PLEASE DO NOT DISTURB THE TENANTS. SHOWINGS BY APPOINTMENT ONLY. The prospective buyer or buyer’s agent must provide either written proof of funds sufficient to demonstrate the buyer’s ability to purchase the property or a current lender pre-approval letter for financing.
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Additional Information
- Subtype
- Residential Income
- Lot Description
- Cleared, Corner Lot
- Living Area
- 2,692
- Elementary School
- Forest Hill
- Middle School
- Liberty
- High School
- Freedom
- Zoning
- MID
- Directions
- From Exit 105 on I-40, travel north on Sterling Street for 1.5 miles and turn left onto S. College Street. In .4 miles, the property is on the right. The property is at the corner of S. College and Herron St. GPS. No signs.
- Style
- Traditional
- Roof
- Metal
- Foundation
- Basement
- Floors
- Carpet, Linoleum, Wood
- Water
- City
- Sewer
- Public Sewer
- Appliances
- Electric Oven, Microwave, Refrigerator
- Basement
- Yes
- Driveway
- Gravel, Paved
- Cooling
- Ceiling Fan(s), Central Air, Window Unit(s)
- Water
- City
- Sewer
- Public Sewer
- Foundation
- Basement
- Roof
- Metal
Mortgage Calculator
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