Ed Cashwell
ABR, CRS, GRI
BEDS6
BATHS4 full 2 partial
SQUARE FEET2,640
MLS#4415402
STATUSActive
PROPERTY TYPEMulti Unit - Multiple
Property Description
Rare opportunity to acquire a newer-construction, fully occupied duplex in the heart of downtown Waxhaw. Built in 2022, this two-unit property offers approximately 2,624 total square feet, with each residence providing three bedrooms, two-and-a-half baths and approximately 1,320 square feet.Both units feature open-concept main-level living, modern finishes, granite countertops, shaker-style cabinetry, durable laminate flooring on the main level, carpeted bedrooms upstairs, washer/dryer connections and driveway parking. The location is convenient to downtown Waxhaw shopping, dining and community amenities, with the Waxhaw Library just around the corner.Both residences are currently leased at $1,750 per month, producing $3,500 in gross monthly scheduled rent and $42,000 in gross annual scheduled rent. At the $575,000 asking price, that represents an approximate 7.30% in-place gross yield before operating expenses. Gross yield is not a cap rate and does not deduct taxes, insurance, utilities, maintenance, vacancy, management or capital reserves.This is an attractive opportunity for an investor seeking immediate income, two substantial three-bedroom rental residences and a newer multifamily asset in a highly convenient downtown location. Lease documentation and available financial information may be reviewed during due diligence.A companion duplex containing two additional three-bedroom rental units is also being offered separately, creating the opportunity to acquire both buildings as a four-unit portfolio, subject to availability. See companion MLS #4415435. Buyer is always strongly encouraged to verify all property information, square footage, leases, income and expenses.****virtual staging used! There are mounted sconces represented in the primary bedroom that are not present! that is virtual staging only****
Property Features
Property Type: Multi Unit - Multiple
Heating: Central, Electric, Heat Pump
Home Style: Arts and Crafts
Lot Size: 0.11 Acres
Roof Type: Composition
Year Built: 2021
Amenities
Open Floorplan
Pantry
Storage
Feature Descriptions
Appliances: Dishwasher, Electric Range, Microwave
Community Features: None
Days on Site: 63
Exterior: Fiber Cement
Flooring: Carpet, Laminate
Foundation: Crawl Space
Horse Amenities: None
Laundry: In Unit, Laundry Closet, Main Level, Washer Hookup
Lot: Sloped
Other Parking: There are 2 parking spaces per unit
Other Structures: None
Parcel#: 05-115-055-A
Parking: Driveway, Parking Space(s)
Patio/Porch: Covered, Front Porch
Pets Allowed: Conditional
Sewer: Public Sewer
Units: 2
Utilities: Electricity Connected
Water: City
Window Features: Insulated Window(s)
Local Schools
High School: Parkwood
Middle School: Parkwood
Elementary School: Waxhaw
Listed By / Shown By
Listed By
Agency Name: David Hoffman Realty Charlotte
Agency Contact: megan.banks@davidhoffmanrealty.com
Shown By
Agent Name: Ed Cashwell
Agent Phone: Cell: (980) 808-9658
Agency Title: Lake Norman Realty
Estimate Your Payment
Estimated Payment
$ 0.00 per month $0.00 Principal & Interest $0.00 Property Tax (data not provided by mls) $0.00 Homeowner's InsuranceChange Payment Information
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427 A Arbor Drive | MLS# 4415402
This multi-family property located at 427 A Arbor Drive, Waxhaw, NC 28173 is currently listed for sale with an asking price of call for price. Search Waxhaw real estate on edc.lakenormanrealty.com today.