409 Gardner St, Raleigh, NC 27607

This property is offered AS IS. Located in the urban core of Raleigh, N.C., this six unit building is uniquely situated inside the beltline across the street from Raleigh’s Rose Garden, and is within walking distance of N.C. State University. The property features (4), two-bedroom units on the main floor and (2) one-bedroom units on the lower level. There is a common laundry room in the basement shared by all residents. This property is well-positioned for value-add improvements. Buyers should research land values in the neighborhood and the potential to subdivide the lot. Owner pays water and is approximately $340 per month. Tenants pay all other utilities. Lease Exp. & Current Rents: Unit 405: 9/30/2022 ($1,175), Unit 407:VACANT ($1,300 Estimated Market Rent), Unit 409: 3/31/2023 ($850), Unit 411: 6/30/23 ($1,275), Unit 413: 3/31/23 ($1,175), Unit 415: 4/30/23 ($700)