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$ 995,000
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915 Raleigh Rd Pkwy W Wilson, NC 27896
13,650 SqFt
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 13,650 sqft
Price per Sqft $72
MLS Listing ID 100594412
Year Built 1933
Lot Size 1.000 Acres
Acres 1.0
Lot Dimensions 00x00
Source Hive MLS
Property Description
AUCTION - Selling at Public Online Auction! AS IS, Cash terms. Price shown is value range only...name your price. Rare opportunity to acquire Pine Forest Apartments, a well-maintained 13-unit multifamily investment property generating $132,060 in annual gross rental income with immediate cash flow and significant upside. Family owned and professionally managed for more than 70 years, this historic brick building features stable occupancy, long-term tenants, and zero delinquency. One vacant unit is ready for lease, providing immediate income growth potential.
Investors will appreciate the opportunity to increase rents over time, add up to five additional units (subject to applicable approvals), or explore future condominium conversion.
Originally constructed in the early 1930s, the building offers exceptional quality rarely found today, featuring approximately 13,650 square feet of solid masonry construction with 2-foot-thick brick walls, steel I-beam framing, concrete floor construction for outstanding sound attenuation, 9-foot ceilings, hardwood and marble flooring, and distinctive floor plans throughout.
Property Features:
13-unit apartment building (7 two-bedroom units, 5 one-bedroom units, 1 studio)
Approx. 13,650 square feet
Dimensional shingle roof installed in 2021
Commercial Peerless boiler system
Commercial natural gas hot water system
Hardwired smoke/fire detection with battery backup
Electrical wiring installed in conduit
On-site coin-operated laundry with room for expansion
Tenants pay for electricity and internet. Owner pays heat, water/sewer, trash service, and lawn maintenance.
Ideally located near Barton College, schools, shopping, medical facilities, and major highways including I-95, US-264, and I-795. Wilson continues to experience strong economic growth driven by advanced manufacturing, life sciences, and more than $300 million in planned mixed-use development surrounding the city's new downtown sports and entertainment district.
Whether you're seeking a stable income-producing investment, a value-add multifamily opportunity, or a long-term redevelopment play, Pine Forest Apartments offers an exceptional combination of historic character, dependable cash flow, and future appreciation potential.
Property Information Package, rent roll, leases, survey, and additional due diligence materials are available upon request.
Investors will appreciate the opportunity to increase rents over time, add up to five additional units (subject to applicable approvals), or explore future condominium conversion.
Originally constructed in the early 1930s, the building offers exceptional quality rarely found today, featuring approximately 13,650 square feet of solid masonry construction with 2-foot-thick brick walls, steel I-beam framing, concrete floor construction for outstanding sound attenuation, 9-foot ceilings, hardwood and marble flooring, and distinctive floor plans throughout.
Property Features:
13-unit apartment building (7 two-bedroom units, 5 one-bedroom units, 1 studio)
Approx. 13,650 square feet
Dimensional shingle roof installed in 2021
Commercial Peerless boiler system
Commercial natural gas hot water system
Hardwired smoke/fire detection with battery backup
Electrical wiring installed in conduit
On-site coin-operated laundry with room for expansion
Tenants pay for electricity and internet. Owner pays heat, water/sewer, trash service, and lawn maintenance.
Ideally located near Barton College, schools, shopping, medical facilities, and major highways including I-95, US-264, and I-795. Wilson continues to experience strong economic growth driven by advanced manufacturing, life sciences, and more than $300 million in planned mixed-use development surrounding the city's new downtown sports and entertainment district.
Whether you're seeking a stable income-producing investment, a value-add multifamily opportunity, or a long-term redevelopment play, Pine Forest Apartments offers an exceptional combination of historic character, dependable cash flow, and future appreciation potential.
Property Information Package, rent roll, leases, survey, and additional due diligence materials are available upon request.
Location
State NC
County Wilson
Community Other
Zoning C
Direction Directly on US264, just West of Ward Blvd Rt 42
Location Details Mainland
Exterior
Garage No
Building
New Construction No
Others
Tax ID 3712438630.000
Special Listing Condition Auction
Listed by Tranzon Key
NEARBY SCHOOLS & PROPERTIES
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