1505 Harth Drive, Unit A & B
Garner, NC 27529
$399,995
Price
4
Beds
2
Baths
1
1/2 Bath
2,052 Sq. Ft.
$195 / Sq. Ft.
2,052
Sq. Ft.
$195
per Sq. Ft.
Description
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...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
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
- Listed by Paulina Bohorquez • Keller Williams Realty
Property Details for 1505 Harth Drive, Unit A & B
View
Yes
SubdivisionMalibu Valley
LISTING UPDATED: 09/25/2024 05:08 PM
Property Details for 1505 Harth Drive, Unit A & B
| Status | Active |
|---|---|
| MLS # | 10054522 |
| Days on Market | 50 |
| Taxes | $3,682 / year |
| HOA Fees | - |
| Condo/Co-op Fees | - |
| Compass Type | Multi Family |
| MLS Type | Residential Income / Duplex |
| Year Built | 1978 |
| Lot Size | 0.51 AC / 22,215 SF |
| County | Wake County |
Building Information for 1505 Harth Drive, Unit A & B
Stories2Residences2Year Built1978Building Size-Lot Size0.51 AC / 22,215 SF
Property Information for 1505 Harth Drive, Unit A & B
Summary
Location and General Information
- 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
- Subdivision Name: Malibu Valley
- Latitude: 35.684411
- Longitude: -78.612383
Taxes and HOA Information
- Association: No
- Tax Annual Amount: $3,682.39
- City Limits Of: Garner
- City Limits YN: Yes
- Lot Number: 26
- Restrictive Covenants YN: No
- School District Link: Wake County Public Schools Website: https://osageo.wcpss.net/assignment-lookup/#
Contract Information
- Lease Expiration Date: 2024-11-30
- Original MLS: Triangle MLS Inc
- Property Leased YN: Yes
School Information
- Elementary School: Wake - Aversboro
- Middle Or Junior School: Wake - East Garner
- High School: Wake - Garner
Parking
- Open Parking: Yes
- Parking Features: Concrete, Driveway
- Attached Garage: No
Property
Lot Information
- Building Area Total: 2052.0
- Architectural Style: Transitional
- Total Other Area Sq Ft: 0
- Parcel Number: 1710540294
- Structure Type: Duplex
Property and Assessments
- New Construction: No
- Photos Count: 3
- Below Grade Finished Area: 0.0
- Below Grade Finished Area Units: Square Feet
- Common Walls: 1 Common Wall
- Community Features: None
Utilities
- Sewer: Public Sewer
- Utilities: Electricity Connected, Sewer Connected, Water Connected
- Water Source: Public
- Water_Sewer: Public, Public Sewer, Electricity Connected, Sewer Connected, Water Connected
Interior and Exterior Features
Exterior Features
- Construction Materials: Brick, Cedar
- Fencing: None
- Foundation Details: Brick/Mortar
- Patio And Porch Features: Deck, Porch
- Pool Private: No
- Roof: Shingle
- New Construction Type: Brick, Cedar, Duplex
Interior Features
- Levels: Multi/Split
- Stories: 2
- Fireplace Y N: No
- Flooring: Carpet, Vinyl
- Cooling: Central Air
- Cooling?: Yes
- Heating: Central
- Heating?: Yes
- Appliances: Microwave
- Equipment Appliances: Microwave
- Interior: Electricity Connected, Sewer Connected, Water Connected, Concrete, Driveway, Brick, Cedar
- Equipment: Microwave, Concrete, Driveway
Multi Family
Unit Information
- Total Units: 2
Agent
Sale and Listing
- Property Class Name: CrossProperty
Rental
Rental Information
- Lease Term: 12 Months
- TenantPays: All Utilities
Units Information
Unit One
- Unit One: Above Grade Finished Area: 950.0
- Unit One: Actual Rent: 1350.0
- Unit One: Baths Total: 1.0
- Unit One: Beds Total: 2.0
- Unit One: Deck: true
- Unit One: Dishwasher: true
- Unit One: Garage Attached YN: false
- Unit One: Kitchen: true
- Unit One: Range: true
- Unit One: Refrigerator: true
- Unit One: Unit Type Pro Forma: 1499
- Unit One: Units Total: 2.0
- Unit One: WasherDryer Hookups: true
Unit Two
- Unit Two: Above Grade Finished Area: 1102.0
- Unit Two: Actual Rent: 1395.0
- Unit Two: Baths Total: 2.0
- Unit Two: Beds Total: 2.0
- Unit Two: Deck: true
- Unit Two: Dishwasher: true
- Unit Two: Garage Attached YN: false
- Unit Two: Kitchen: true
- Unit Two: Living Room: true
- Unit Two: Range: true
- Unit Two: Refrigerator: true
- Unit Two: Unit Type Pro Forma: 1499
- Unit Two: Unit Type: 2 Bedroom
- Unit Two: Units Total: 2.0
- Unit Two: WasherDryer Hookups: true
Unit Three
- Unit Three: Actual Rent: 0.0
Unit Four
- Unit Four: Actual Rent: 0.0
Property History for 1505 Harth Drive, Unit A & B
| Date | Event & Source | Price | Appreciation |
|---|
| Date | Event & Source | Price |
|---|
For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Schools near 1505 Harth Drive, Unit A & B
This home is within Wake County School District.
Rating | School | Type | Grades | Distance |
|---|---|---|---|---|
| Public - | PK to 5 | |||
| Public - | 6 to 8 | |||
| Public - | 9 to 12 | |||
| Public - | 9 to 13 |
Rating | School | Distance |
|---|---|---|
Aversboro Elementary PublicPK to 5 | ||
East Garner Middle Public6 to 8 | ||
Garner High Public9 to 12 | ||
Vernon Malone College and Career Academy Public9 to 13 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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