Exceptional Investment Opportunity Near Wingate University! Located just steps from the campus, this well-maintained property offers an outstanding opportunity for investors seeking immediate and future income potential. Currently configured and operated as student housing, the home features over 2,500 square feet with seven private bedrooms, including one bedroom with a… Read More private en-suite bath, a spacious shared kitchen, central community laundry room, welcoming foyer, and two additional shared full bathrooms. Situated on approximately 0.95 acres, the property also offers a large private parking lot for residents and a detached garage used exclusively for owner storage. Since purchasing the property in 2019, the current owners have completed numerous major capital improvements, including a new roof, plumbing upgrades, all new windows, new HVAC equipment, and a fully functional, code-compliant commercial fire sprinkler system. The property is currently approved for commercial use (buyers should verify current zoning and permitted uses with the Town of Wingate, as zoning confirmation is pending). Only one bedroom is currently occupied, as ownership has elected to stop leasing additional rooms in preparation for the sale. This provides the new owner with the opportunity to establish their own leasing strategy, tenant selection, and rental rates while filling the remaining vacancies at their own pace. With its established history as student housing, ample on-site parking, significant recent improvements, and prime location just minutes from Wingate University, this is a rare opportunity to acquire a unique investment property with substantial upside potential. Read Less
Finished Area Above Grade: 2792, Area: 2792, Building Area: 2792, Construction Materials: Hardboard Siding, Levels: Two, Year Built: 1914, Construction Type: Site Built
Cooling
Details: Central Air, Heat Pump
Exterior Features
Patio Features: Wrap Around
Heating
Heating: Heat Pump, Natural Gas
Laundry
Description: Common Area, Utility Room
Utilities
Sewer: Public Sewer, Water Source: City, Utilities: Cable Connected, Electricity Connected, Natural Gas
Garage
Man Level Garage: 0
Interior Features
SqFt Lower: 0, Main SqFt: 2028, Third SqFt: 0, UnheatedMan SqFt: 0, Unheated Total SqFt: 0, uUnheated Upper SqFt: 0
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