Wake Forest, NC 27587,613-615 Wait Avenue
Listed by Deaton Investment Real Estate
Bought with Hodge & Kittrell Sotheby's Int

$450,000

Est. payment /mo

$425,000

5.9%
Est.Price: ?

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613-615 Wait Avenue Wake Forest, NC 27587

SOLD DATE : 09/25/2023

Key Details

Sold Price $450,000

Property Type Multi-Family

Sub Type Duplex

Listing Status Sold

Purchase Type For Sale

Subdivision Not In A Subdivision

MLS Listing ID 2527762

Sold Date 09/25/23

Originating Board Triangle MLS

Year Built 1985

Annual Tax Amount $2,632

Property Description

This duplex at 613/615 Wait Ave, is located in close proximity to downtown Wake Forest and the campus of Southeastern Baptist Theological Seminary. Built in 1985, the two-story design features two identical townhome-style floorplans. Each unit has two-bedrooms, two-and-a-half-bathrooms, and its own garage. Both units at the property are currently occupied and are on month-to-month leases. Current rents are well below market but could be increased significantly with light value-add improvements as the units have been well-maintained. Current ownership has made recent improvements to the property that include the following: new roof (2019), new water heaters (2019), new windows (2019), and new rear decks (2021). The property has polybutylene plumbing. This offering presents an opportunity for an investor to acquire a well maintained duplex with significant income upside in a highly-sought after location.

Location

State NC

County Wake

Direction Heading north on Franklin St, turn right onto Wait Ave and property will be on the left.

Rooms

Basement Crawl Space

Interior

Heating Forced Air, Natural Gas

Cooling Central Air

Flooring Carpet, Tile

Exterior

View Y/N Yes

Garage No

Private Pool No

Building

Faces Heading north on Franklin St, turn right onto Wait Ave and property will be on the left.

Sewer Public Sewer

Water Public

Structure Type Vinyl Siding

New Construction No

Schools

Elementary Schools Wake County Schools

Middle Schools Wake County Schools

High Schools Wake County Schools

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Doorify MLS / Triangle MLS

LaKesha Faison

Agent | License ID: 323997

+1(910) 372-1845

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