Rare investor find! Explore an exceptional investment opportunity at 5 Howell Street, Chapel Hill! Situated conveniently close to UNC-Chapel Hill campus and hospital, this property boasts 9 units on a generous 1.47-acre lot. With a current monthly rent of $11,670 (leased through summer 2025) and potential for increases, it's a reliable income stream. Recent updates include a new roof installed in 2018, ensuring peace of mind for years to come. Includes off street parking. Get in on the dynamic development currently underway in the area. Whether you choose to maintain the steady rentals or redevelop (currently zoned R4 = potential for approx 5 more units) for higher returns, the possibilities are endless. Don't miss out on this prime location and its promising future!
Utilities: Cable Connected, Electricity Connected, Sewer Connected, Water Connected
Roof: Aluminum
Lot Features: Back Yard, Open Lot, Paved
Heat Type: Baseboard, Central, Varies by Unit
Air Conditioning: Ceiling Fan(s), Central Air, Varies by Unit, Wall/Window Unit(s)
Sewer: Public Sewer
Substructure: Slab
Disability Features: Level Flooring
Other Exterior Features: Built-in Barbecue, Private Entrance
Financial
Sales Price: $1,950,000
Real Estate Tax: $20,708/yr
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