1505 Harth Drive Unit A & B
Garner, NC 27529
- 4 beds
- 3 baths
- 2,052 sqft
- ~1/2 acre lot
- $194 per sqft
- 1978 build
- – on site
Investor special with huge Value Add potential! Current owner has long term tenants with below market rents in high growth areas. A new owner can realize a significant upside and could reach a 7.25% Cap rate with small investment in items like new flooring and paint and bringing the units up to current market rates estimated to be $1,795. This income producing duplex is part of a portfolio of 6 buildings which include 12 leased units. 1505 Harth Dr includes Unit A - 2 beds 1 baths and Unit B - 2 beds 1.5 baths for a total of 2,052 square feet . This property can only be sold as part of the portfolio listed at $2,999,995 with a 5.73% Cap rate. Buildings sold as part of this portfolio are listed under the following MLS numbers: 10054463, 1054486, 10054497, 10054505, 10054514 Garner, NC, is a rapidly growing town located just 10 minutes south of downtown Raleigh, offering a perfect balance between small-town charm and urban convenience. With its close proximity to the Research Triangle Park and Raleigh's thriving job market, Garner has become a desirable destination for individuals seeking affordable housing and easy access to employment opportunities. Thousands of new jobs have been created in the area, including at the recently completed Amazon warehouse, fueling further economic growth. Garner is conveniently located near I-40, I-440, and I-540, with ongoing work toward the completion of the 540 beltline, which will provide an even easier commute. The recent completion of the widening of Hwy 440 has also eased traffic to Raleigh, while improved access along Hwy 40 through Garner toward Fayetteville has eliminated gridlock, further enhancing commuter routes. The town's steady growth is driven by its strong ties to industries like tech, healthcare, and education. Garner also boasts a welcoming community, expanding retail options, and abundant parks, making it an attractive place to live and work. Garner is also close to the explosion of growth in Johnston and Harnett Counties. Investing in income-producing duplexes is a smart move, especially in today's market. Duplexes offer the unique advantage of generating rental income from two units on a single property, increasing your cash flow potential. As demand for affordable housing continues to rise, particularly in growing markets like the Triangle, duplexes appeal to both tenants and investors due to their affordability and versatility. Please no tours as tenants do not want property shown. Tours by appointment only. Do not knock on doors
Listing courtesy of DMLS / Keller Williams Realty
Last checked:
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Last updated Oct 20, 2024
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MLS# 10054522 —
The Building
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Year Built:1978
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New Construction:false
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Construction Materials:Brick
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Architectural Style:Transitional
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Structure Type:Duplex
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Roof:Shingle
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Stories:2
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Levels:Multi/Split
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Basement:false
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Foundation Details:Brick/Mortar
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Common Walls:1 Common Wall
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Patio And Porch Features:Deck
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Building Area Total:2052
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Building Area Units:Square Feet
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# of Units Total:2
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Above Grade Finished Area:2052
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Above Grade Finished Area Units:Square Feet
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Below Grade Finished Area Units:Square Feet
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Unit Number:A & B
Interior
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Flooring:Carpet
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Fireplace:false
Room Dimensions
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Living Area:2052
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Living Area Units:Square Feet
Location
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Directions:7 min from 401 South Head south on US-401 S/US-70 E, 197 ft Keep left to continue on US-70 E, 1.0 mi Turn right onto Timber Dr, 3.5 mi Turn right onto Harth Dr Destination will be on the left, 0.1 mi 1505 Harth Dr 5 min from Downtown Garner Head southeast on E Main St toward Griffin St, 0.3 mi Turn right onto New Rand Rd, 1.1 mi Continue onto New Rand Ext, 0.1 mi Turn left onto NC-50 S/Benson Rd, 0.2 mi Turn right onto Timber Dr, 0.5 mi Turn left onto Harth Dr Destination will be on the left, 0.1 mi 1505 Harth Dr 30 min from RDU Get on I-40 E from Airport Blvd and Aviation Pkwy 7 min (3.5 mi) Follow I-40 E to US-401 S/US-70 E in Raleigh. Exit from I-40 E 12 min (13.4 mi) Follow US-70 E and Timber Dr to Head south on US-401 S/US-70 E, 197 ft Keep left to continue on US-70 E, 1.0 mi Turn right onto Timber Dr, 3.5 mi Turn right onto Harth Dr Destination will be on the left, 0.1 mi 1505 Harth Dr
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Latitude:35.684411
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Longitude:-78.612383
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Coordinates:-78.612383, 35.684411
The Property
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Parcel Number:1710540294
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Property Subtype:Duplex
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Property Type:Residential Income
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Lot Size Acres:0.51
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Lot Size Area:22215.6
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Lot Size SqFt:22215.6
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Lot Size Units:Square Feet
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View:true
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Fencing:None
Listing Agent
- Contact info:
- Agent phone:
- (919) 985-9416
- Office phone:
- (919) 676-0600
Taxes
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Tax Annual Amount:3682.39
Beds
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Bedrooms Total:4
Baths
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Total Baths:2.5
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Total Baths:2.5
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Total Baths:3
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Full Baths:2
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Half Baths:1
The Listing
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Special Listing Conditions:Standard
Heating & Cooling
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Heating:Central
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Heating:true
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Cooling:Central Air
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Cooling:true
Utilities
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Utilities:Electricity Connected
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Sewer:Public Sewer
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Water Source:Public
Appliances
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Appliances:Microwave
Schools
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Elementary School:Wake - Aversboro
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Middle Or Junior School:Wake - East Garner
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High School:Wake - Garner
The Community
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Subdivision Name:Malibu Valley
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Community Features:None
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Pool Private:false
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Association Amenities:None
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Association:false
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# of Units Leased:2
Parking
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Attached Garage:false
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Parking Features:Concrete
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Open Parking:true
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Open Parking Spaces:4
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Bike Score®
Provided by WalkScore® Inc.
Bike Score evaluates a location's bikeability. It is calculated by measuring bike infrastructure, hills, destinations and road connectivity, and the number of bike commuters. Bike Scores range from 0 (Somewhat Bikeable) to 100 (Biker’s Paradise).
Soundscore™
Provided by HowLoud
Soundscore is an overall score that accounts for traffic, airport activity, and local sources. A Soundscore rating is a number between 50 (very loud) and 100 (very quiet).
Sale history
Date | Event | Source | Price | % Change |
---|---|---|---|---|
9/24/24
Sep 24, 2024
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Listed / Active | DMLS | $399,995 |