110 Grant St - 110 Grant Street, Chapel Hill
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110 Grant St - 110 Grant Street, Chapel Hill
1,500 SF Specialty Building Offered at $924,300 CAD at a 4.85% Cap Rate in Chapel Hill, NC 27516
Investment Highlights
- Very close to Franklin street (2 min drive) and UNC campus (5 min drive)
- High student demand; comps for the area are 3200-3500 per month. Very low opex and 3 year young property
- 4 bedroom and 4 bathroom -- very rare
Executive Summary
Beautiful and spacious 4 bedroom with 4 bathroom (all ensuite). Perfect living with privacy/space! 2018 build with latest appliances. Washer/Dryer in unit. Private car space for 3 cars and off road parking available. Has a garden and portch. Very close to Franklin street (2 min drive) and UNC campus (5 min drive). Rented for 2021/2022 school year for $3200 per month
Financial Summary (Pro forma - 2021) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$54,605
|
$36.40
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$54,605
|
$36.40
|
| Taxes |
$7,110
|
$4.74
|
| Operating Expenses |
$2,702
|
$1.80
|
| Total Expenses |
$9,812
|
$6.54
|
| Net Operating Income |
$44,793
|
$29.86
|
Financial Summary (Pro forma - 2021)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $54,605 |
| Annual Per SF | $36.40 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $54,605 |
| Annual Per SF | $36.40 |
| Taxes (CAD) | |
|---|---|
| Annual | $7,110 |
| Annual Per SF | $4.74 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $2,702 |
| Annual Per SF | $1.80 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $9,812 |
| Annual Per SF | $6.54 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $44,793 |
| Annual Per SF | $29.86 |
Property Facts
| Price | $924,300 CAD | Building Class | C |
| Price Per SF | $616 CAD | Lot Size | 0.14 AC |
| Sale Type | Investment | Building Size | 1,500 SF |
| Cap Rate | 4.85% | No. Stories | 1 |
| Property Type | Specialty | Year Built | 2018 |
| Property Subtype | Residential Income |
| Price | $924,300 CAD |
| Price Per SF | $616 CAD |
| Sale Type | Investment |
| Cap Rate | 4.85% |
| Property Type | Specialty |
| Property Subtype | Residential Income |
| Building Class | C |
| Lot Size | 0.14 AC |
| Building Size | 1,500 SF |
| No. Stories | 1 |
| Year Built | 2018 |
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Shubham Chandna
110 Grant St - 110 Grant Street, Chapel Hill
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