About 1400 Clingman Street
Ideal for investors seeking stable cash flow with strong upside potential - 6-Unit Apartment Complex For those looking to expand their portfolio, this property offers both stability and growth potential: Property Breakdown • (5) Units - 3 Bedrooms / 2 Bathrooms • (1) Unit - 2 Bedrooms / 1 Bathroom with Private Garage Spacious floor plans • Current Rents: Existing rents are intentionally below market due to owner preference. All units will convert to month-to-month at transfer, providing immediate flexibility for the new owner to reposition rents. • Current Gross Income (2 Vacant Units): Approximately $79,200/year, offering clear upside. • Market Rent Potential: Comparable properties in the area support $1,150-$1,450 per month per unit, translating to a pro forma gross income of $82,800-$104,400 annually. • Value-Add Opportunity: With light cosmetic updates and rent adjustments to market levels, investors can expect an additional $3,600-$25,200 in annual income, significantly improving cash flow and overall return. Message me for rent roll, financials, or to schedule a walk-through.
Features of 1400 Clingman Street
| MLS® # | 100494648 |
|---|---|
| Price | $755,000 |
| Acres | 0.70 |
| Year Built | 1985 |
| Type | Commercial Sale |
| Sub-Type | Multi Family |
| Status | Active |
Community Information
| Address | 1400 Clingman Street |
|---|---|
| Subdivision | Not In Subdivision |
| City | Goldsboro |
| County | Wayne |
| State | NC |
Amenities
| Utilities | Natural Gas Connected, Water Available |
|---|---|
| Is Waterfront | No |
| Has Pool | No |
Interior
| Heating | Heat Pump, Natural Gas |
|---|---|
| Cooling | Central Air |
| Fireplace | No |
Exterior
| Lot Description | Corner Lot |
|---|---|
| Construction | Vinyl Siding |
| Foundation | Crawl Space |
Additional Information
| Date Listed | March 15th, 2025 |
|---|---|
| Days on Market | 230 |
| Zoning | R-9 |
| Foreclosure | No |
| Short Sale | No |
| RE / Bank Owned | No |
Listing Details
| Office | Legacy Builder, LLC |
|---|