24 unit apartment complex in nice,clean,quite location Start Price - Current Price - Time Left - Bid Count 0 Buy It Now Price - Reserve Price - Start Time Monday, July 14, 2008 End Time Sunday, October 12, 2008 Location pilot mountain, NC See more about '24 unit apartment complex in nice,clean,quite location' Description INVESTMENT OPPORTUNITY HEY! New Offering. Commercial Real Estate Consisting of 24 Apt. Units on 5.32 acres. FOR SALE: $1,250,000.00 TWIN OAKS GARDEN APARTMENT S                Apartment complex consist of 3 buildings, each having 8 units giving a total of 24 units (garden type) with one being handicap accessible.  Sitting on 5.2 acres, these apartments are well kept, neat, clean and spacious.           Each apartment has kitchen/dining area, living room, bathroom, and 2 bedrooms.  Furnishings include: Refrigorator, stove, dishwasher, garbage disposal.  Central air with electric heat.  Quarterly pest control.  Has own water source which is controlled by management.  Chlorinated and Regulated by State.Tenent will be responsible for their own phone bill and power bill.  There is no water bill.  Satalite, cable, internet service available.  Maintenance is handled through management.  All carpet, painting, and appliances are repaired or replaced as needed.Each unit has 2 refuge cans furnished.  Refuge is removed weekly by management.  However, their are refuge contractors located in the area.  Parking lots are paved with each unit having 2 spaces.  Additional guest parking available.  There are 2 enter/exits that turn onto NC Highway 268 East.  There is rural mail delivery/pickup on site with private locked boxes with Post Office within 5 miles.Complex is arranged around a large back yard.  Also, this is where the laundry room is located.  Open 24 hours.  Consist of 6 washers and 6 dryers all coin operated and water basin.           This complex was built in 3 stages.  Each building is identified as A, B, or C.  A - Building was built in 1980.  Followed by B-Building in 1986.  And C-Building in 1987.  Each building is constructed the same.  Framed on a cement slab with roof trusses having new asphault composit shingles.  Front and side of buildings have ceder shingles.  The back of the buildings have 8 inch beveled ceder siding.  All windows are double paned.  Have front and back steel entry door with storm doors on the front.  Inside the unit you will find sheetrock walls, textured ceilings, wall to wall carpeting with vinyl flooring in kitchen and bathroom.  Guest closet in living room, linen closet in bathroom, and large closets in bedrooms.  Sufficient cabinet storage in kitchen.            In view of small lake for fishing and leisure activities within walking distance.  Just 5 miles from Pilot Mountain State Park and 18 miles to Hanging Rock State Park.  Each park offers camping, cycling, row boating, fishing, hiking, horseback riding and so much more.  Forest Ranger guide tours on plants and wildlife.Local service to fire department, 2 rescue squads, and 5 hospitals( 1 in Mount Airy, 1 in Danbury, and 3 in Winston Salem).           Apartments was started for retirement purposes.  Having reached that age with several health problems need to sell off.  This has been a challenging and rewarding experience being a good financial source.           Apartments are presently being rented for $425.00 per unit per month all under a 12 month lease agreement.  However, near by town of Pilot Mountain has apartments for  $500.00 and up.  Have no reason to believe rents could not reach $500.00 monthly with new owner/operator.  Also, 1 or more units could be converted to an onsite office.  At present time we are 100% occupancy.  1-17 years, 1-15 years, 5- 3 or more years, all other 1-3 years.  Good records to verify rental and income.           Taxes for 2007 were $4,193.69 with a tax rate of $6.00 per $100.00.           Income from apartments were $9,600.00 per month based on $400.00 per month at 95% occupancy.  Rates are being increased to $425.00 per vacancy.  Reason for low imcome rate is tenents are family and friends and wanted to keep the rates as low as we saw feasible.           Prefer sale to be complete, 100% of $ 1,250,000.00.           Price negotiable for serious buyer. Available at 20% down. Owner financing. Place a Bid!