Tremendous Multi-Family investment opportunity in Newport, NC located in the Pine Ridge Subdivision. 4 of 5 townhouses available for sale (we can get the 5th townhouse). All units are 3 stories; 1st level is open concept, living room, dining, kitchen and 1/2 bath, 2nd level offers 2 master bedroom suites with master baths and 2 large closets, 3rd floor is unfinished, but could easily be finished, some units already plumbed for bath and a/c. Kitchen features breakfast bar, plenty of cabinets and counter space, all appliances, Frig, built-in microwave, dishwasher, and stove. Ample parking. Property is close to air base, beaches and tourist amenities. Rental rates currently $800 – $900 per month. This property is 100% occupied, with 12 month lease. Offers a GREAT return on investment.Residents pay a $75 a month HOA dues which covers; Septic clean out twice a year, common area electric, lawn care and $1200 a year for Building Insurance.
Other yearly expenses for building are $440 year per unit in taxes and $3000 year Wind and Hail Insurance. 101 Ole Field Circle #B, C, D & E