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$ 689,500
Est. payment /mo
Price Dropped by $29K
656 Dr Martin Luther King Jr BLVD Kinston, NC 28501
7,056 SqFt
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 7,056 sqft
Price per Sqft $97
Subdivision Not In Subdivision
MLS Listing ID 100486209
Year Built 1901
Lot Size 0.280 Acres
Acres 0.28
Lot Dimensions Irregular
Source Hive MLS
Property Description
Well-positioned in Kinston, this 10-unit multifamily property offers a strong investment opportunity. The 7,056 SF building consists of nine 2-bedroom units and one 1-bedroom unit, with major renovations completed, including new countertops, flooring, and stainless steel appliances. Additional capital improvements include a new roof, and HVAC replacements are scheduled as tenants move in. The property is actively managed, with a focus on securing long-term leases to ensure stable income. Tenants cover all utilities except landscaping, keeping operating expenses low. Conveniently located near Downtown Kinston and Grainger Stadium, this property is well-positioned for future growth. Leasing efforts are underway to enhance returns, making this a prime opportunity for investors seeking a turnkey, value-add, or long-term hold asset.
Location
State NC
County Lenoir
Community Not In Subdivision
Zoning I-1
Direction From Downtown Kinston, head east on Queen St toward E Vernon Ave, turn right onto E Vernon Ave, continue until you reach Highway 11 (Dr. Martin Luther King Jr Blvd), turn right, and the building will be on your right.
Interior
Heating Electric
Building
New Construction No
Others
Tax ID 452511651249
Listed by Alluvium Elite Realty