1505 Harth Drive #A & BGarner, NC 27529

Investor special with huge Value Add potential! Current owner has long term tenants with below market rents in high growth areas. A new owner can realize a significant upside and could reach a 7.25 prcnt Cap rate with small investment in items like new flooring and paint and bringing the units up to current market rates estimated to be $1,795. This income producing duplex is part of a portfolio of 6 buildings which include 12 leased units. 1505 Harth Dr includes Unit A - 2 beds 1 baths and Unit B - 2 beds 1.5 baths for a total of 2,052 square feet . This property can only be sold as part of the portfolio listed at $2,695,000 with a 6 prcnt Cap rate. Buildings sold as part of this portfolio are listed under the following MLS numbers: 10054463, 1054486, 10054497, 10054505, 10054514 Garner, NC, is a rapidly growing town located just 10 minutes south of downtown Raleigh, offering a perfect balance between small-town charm and urban convenience. With its close proximity to the Research Triangle Park and Raleigh's thriving job market, Garner has become a desirable destination for individuals seeking affordable housing and easy access to employment opportunities. Thousands of new jobs have been created in the area, including at the recently completed Amazon warehouse, fueling further economic growth. Garner is conveniently located near I-40, I-440, and I-540, with ongoing work toward the completion of the 540 beltline, which will provide an even easier commute. The recent completion of the widening of Hwy 440 has also eased traffic to Raleigh, while improved access along Hwy 40 through Garner toward Fayetteville has eliminated gridlock, further enhancing commuter routes. The town's steady growth is driven by its strong ties to industries like tech, healthcare, and education. Garner also boasts a welcoming community, expanding retail options, and abundant parks, making it an attractive place to live and work. Garner is also close to the explosion of growth in Johnston and Harnett Counties. Investing in income-producing duplexes is a smart move, especially in today's market. Duplexes offer the unique advantage of generating rental income from two units on a single property, increasing your cash flow potential. As demand for affordable housing continues to rise, particularly in growing markets like the Triangle, duplexes appeal to both tenants and investors due to their affordability and versatility. Please, no tours, as tenants do not want the property shown. Tours by appointment only. Do not knock on the doors of these units.

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Last Updated

Nov 23, 2024

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