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MULTI_FAMILY - Kinston, NC
Where else within an hour of Raleigh can you find an established multi-family property delivering a solid 10% cap rate? Currently with 90% occupancy. This well-positioned 10-unit multifamily investment property in the heart of Kinston offers a rare combination of stability, turnkey renovations, and value-add potential. The building spans 7,056 square feet and features nine spacious 2-bedroom units and one 1-bedroom unit. Renovations & Capital Improvements: - Updated flooring, modern countertops, and stainless steel appliances in units - Newer metal roof installed by previous owner - HVAC systems being replaced as new tenants are secured - Durable finishes designed to attract and retain quality tenants Investment Highlights: - 10% cap rate potential with continued leasing progress - Professionally managed with focus on tenant retention & long-term stability - Tenants pay all utilities exc...
Where else within an hour of Raleigh can you find an established multi-family property delivering a solid 10% cap rate? Currently with 90% occupancy. This well-positioned 10-unit multifamily investment property in the heart of Kinston offers a rare combination of stability, turnkey renovations, and value-add potential. The building spans 7,056 square feet and features nine spacious 2-bedroom units and one 1-bedroom unit. Renovations & Capital Improvements: - Updated flooring, modern countertops, and stainless steel appliances in units - Newer metal roof installed by previous owner - HVAC systems being replaced as new tenants are secured - Durable finishes designed to attract and retain quality tenants Investment Highlights: - 10% cap rate potential with continued leasing progress - Professionally managed with focus on tenant retention & long-term stability - Tenants pay all utilities except landscaping predictable operating costs - Ongoing lease-up provides both current income and upside opportunity Location Advantages: - Just 1 hour from Raleigh, offering Triangle-area proximity without Triangle pricing - Only 30 minutes to Goldsboro and Seymour Johnson Air Force Base, creating strong rental demand from military personnel, contractors, and workforce tenants - Minutes from Downtown Kinston & Grainger Stadium in a growing rental corridor This property appeals to both seasoned investors seeking a stabilized, cash-flowing asset and emerging investors looking for a value-add opportunity in a strengthening regional market. With renovations complete, professional management in place, and strong regional drivers, this turnkey 10-unit multifamily checks all the boxes for cash flow and long-term appreciation.
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