Property Description

This stabilized 5-unit multifamily portfolio includes one single-family residence (1554 Barringer) plus a fourplex (1558, 1562, 1566, 1568 Barringer). Each unit is separately metered for water and electricity, with tenants responsible for their own utilities.Property Highlights:1554 Barringer (SFR): Completely converted to a 3BR/2BA home with full plumbing rehabilitation, an added bathroom with high ceiling, and a vacuum barrier. Certificate of Completion on file.Fourplex Improvements: Roof replaced; brand-new gutter system; newly extended concrete driveway; new centralized mailbox bank.Interior Upgrades (1566 & 1568): Units fully redone with LVP flooring, new appliances (stove and washer) and new window units in 1568, freshly painted interiors and cabinets, updated switches/fixtures, and added washer/dryer connections.Additional Updates: New lighting fixtures throughout rehabbed unitsLawn maintenance: $20 per month (the SFR tenant has to do lawn as part of their lease agreement)With updated systems, durable LVP flooring, in-unit laundry connections, and tenants covering all utilities, this package offers strong cash flow with minimal landlord responsibility. Professional management is currently in place at 8%.Located in the growing Mount Pleasant submarket of Cabarrus County, this property benefits from convenient access to Concord, Kannapolis, and the Charlotte metro, supporting ongoing rental demand.

Property Features

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