516 Keen Street #A-H Rocky Mount, NC 27804
5,805 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Multi Family
Listing Status Pending
Purchase Type For Sale
Square Footage 5,805 sqft
Price per Sqft $81
MLS Listing ID 10164668
Abv Grd Liv Area 5,805
Year Built 1978
Annual Tax Amount $262,610
Lot Size 0.520 Acres
Acres 0.52
Property Sub-Type Multi Family
Source Triangle MLS
Property Description
Excellent opportunity to acquire an 8-unit multifamily property with immediate income and significant upside. Each unit offers 2 bedrooms and 1 bathroom, a consistently desirable rental configuration.
Currently 6 units are leased, with 5 on month-to-month agreements and 1 leased through 11/30, providing flexibility for rent adjustments and future stabilization. The property is producing a current cap rate of 8.1%, with the potential to reach approximately 12% cap rate once renovations are completed and rents are optimized.
Two units are vacant and require full renovation, making this a true value-add opportunity for investors looking to increase returns and equity.
Property improvements include new windows and doors throughout all units, reducing future capital expenses.
Showings:
Vacant units available by appointment. Occupied units will be shown after an accepted offer; photos provided in the meantime. Please do not disturb tenants.
Ideal for investors seeking a property with existing cash flow, lease flexibility, and clear upside through renovation and rent growth.
Location
State NC
County Nash
Zoning R-6MFA
Direction Take US-301 Business (Church St) toward downtown Rocky Mount Continue on Church St Turn onto Keen Street Home will be on the right
Interior
Cooling Wall/Window Unit(s)
Appliance Electric Oven, Refrigerator
Exterior
Private Pool No
Building
Faces Take US-301 Business (Church St) toward downtown Rocky Mount Continue on Church St Turn onto Keen Street Home will be on the right
Structure Type Asphalt,Batts Insulation,Brick
New Construction No
Others
Senior Community No
Tax ID 029619
Special Listing Condition Standard
GET MORE INFORMATION
Commercial Specialist | Broker | License ID: 339343
+1(919) 899-2662 | russell@thecopersitogroup.com