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Sieara Smith

sieara@keysbysieara.com +1(919) 769-2971

Listed by Tranzon Key Auctions

$ 995,000

Est. payment -/mo

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Open 9/8 11AM-1PM

915 Raleigh Road W PKWY Wilson, NC 27896

13,650 SqFt

Open House

Tue Sep 08, 11:00am - 1:00pm

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Multi Family

Listing Status Active

Purchase Type For Sale

Square Footage 13,650 sqft

Price per Sqft $72

MLS Listing ID 10184331

HOA Y/N No

Year Built 1933

Annual Tax Amount $3,860

Lot Size 2.420 Acres

Acres 2.42

Lot Dimensions 250 x 452 x 257 x 382

Property Sub-Type Multi Family

Source Doorify MLS

Land Area 13650

Property Description

AUCTION - Selling at Public Auction-CASH- AS-IS. List price is BPO and not asking price. Rare opportunity to acquire Pine Forest Apartments, a well-maintained 13-unit multifamily investment property generating $132,060 in annual gross rental income with immediate cash flow and significant upside. Family owned and professionally managed for more than 70 years, this historic brick building features stable occupancy, long-term tenants, and zero delinquency. One vacant unit is ready for lease, providing immediate income growth potential. Investors will appreciate the opportunity to increase rents over time, add up to five additional units (subject to applicable approvals), or explore future condominium conversion. Originally constructed in the early 1930s, the building offers exceptional quality rarely found today, featuring approximately 13,650 square feet of solid masonry construction with 2-foot-thick brick walls, steel I-beam framing, concrete floor construction for outstanding sound attenuation, 9-foot ceilings, hardwood and marble flooring, and distinctive floor plans throughout. Property Features: 13-unit apartment building (7 two-bedroom units, 5 one-bedroom units, 1 studio) Approx. 13,650 square feet Dimensional shingle roof installed in 2021 Commercial Peerless boiler system Commercial natural gas hot water system Hardwired smoke/fire detection with battery backup Electrical wiring installed in conduit On-site coin-operated laundry with room for expansion Tenants pay electric and internet. Owner pays heat, water/sewer, trash service, and lawn maintenance. Ideally located near Barton College, schools, shopping, medical facilities, and major highways including I-95, US-264, and I-795. Wilson continues to experience strong economic growth driven by advanced manufacturing, life sciences, and more than $300 million in planned mixed-use development surrounding the city's new downtown sports and entertainment district. Whether you're seeking a stable income-producing investment, a value-add multifamily opportunity, or a long-term redevelopment play, Pine Forest Apartments offers an exceptional combination of historic character, dependable cash flow, and future appreciation potential. Property Information Package, rent roll, leases, survey, and additional due diligence materials are available upon request.

Location

State NC

County Wilson

Area 2.42

Rooms

Basement Unfinished, Partially Finished

Interior

Interior Features Ceiling Fan(s), Chandelier, Crown Molding, Laminate Counters

Cooling Ceiling Fan(s), Wall/Window Unit(s), Window Unit(s)

Flooring Tile, Wood

Fireplace No

Appliance Range, Freezer

Laundry Common Area

Exterior

Exterior Feature Barbecue, Outdoor Grill, Rain Gutters

Utilities Available Cable Connected, Electricity Connected, Natural Gas Connected, Phone Connected, Sewer Connected, Water Connected

Roof Type Shingle

Garage No

Building

Lot Description City Lot

Foundation Brick/Mortar

New Construction No

Others

Tax ID 3712438630000

Acceptable Financing Cash

Listing Terms Cash

Sieara Smith

REALTOR® | License ID: 356820

+1(919) 769-2971

Sieara Smith

915 Raleigh Road W PKWY Wilson, NC 27896

Open House

Key Details

Location

Rooms

Interior

Exterior

Building

Others

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915 Raleigh Road W PKWY