6 Unit SFR Portfolio New Bern NC

For Sale

851 Pasteur Street, New Bern, NC 28560

This New Bern property for sale is located at 851 Pasteur Street. The current listed sale price for 6 Unit SFR Portfolio New Bern NC is $789,000. 6 Unit SFR Portfolio New Bern NC is situated on a lot that is 0.62 acre in size.

Contacts

broker

Josh Taylor

SVN | Efird Commercial Real Estate

(252) 670-9590

Property Details

  • Property Type Multi-Family
  • Property Size 3,684 SF
  • Units 6
  • Lot Size 0.62 Acre
  • Property Tenancy Multi-Tenant
  • Year Built 1920
  • Year Renovated 2023
  • Date Updated Apr 25, 2024
Downtown New Bern walkable to Historic Downtown and Neuse River waterfront.A unique investment opportunity in the heart of historic New Bern, NC! This property consists of 6 single-family homes, perfectly situated within steps to downtown, offering a rare chance to capitalize on both current rental income and future development potential. Each of these homes features three bedrooms and one bathroom, providing comfortable living spaces with a classic touch. The homes are nestled on one parcel of land, with additional acreage available for development, presenting an exciting prospect for expansion or alternative usage. Value add aspects of this property include its location in an Opportunity Zone and the below-market rents. Low rents provide an immediate opportunity for increased cash flow. Beyond the current rental income, there's an immense potential to transform these properties into short-term, Vrbo, or Airbnb accommodations, catering to the growing demand for unique and centrally located lodging experiences with several wedding and event venues in close proximity. The proximity to downtown New Bern is a key selling point. Residents and guests alike will enjoy the convenience of being just steps away from the Birthplace of Pepsi, vibrant cultural scene, shops, and renowned restaurants that the historic district has to offer. This prime location enhances the property's appeal for both long-term tenants and short-term visitors. Located in a flood zone like much of Downtown New Bern.

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Highlights

  • 6 Unit SFR Portfolio in Opportunity Zone
  • 9.68% Cap Rate (proforma)

Getting around

  • 55/100

    Walk Score ®

  • 75/100

    Bike Score ®

Powered by Walk Score ®

Location

  • City New Bern, NC
  • Neighborhood New Bern
  • Zip Code 28560

Points of Interest

  • Exxon

    0.50 miles

  • bp

    0.61 miles

  • Energy Fuels

    0.75 miles

  • Super Stop

    1.19 miles

  • Speedway

    1.38 miles

  • BP

    1.83 miles

  • U Pick

    1.89 miles

  • Shell

    2.32 miles

  • BP

    2.65 miles

  • Handy Man

    2.71 miles

  • Walgreens

    1.41 miles

  • Wheatstone Employees

    6.61 miles

  • Wheatstone Staff

    6.69 miles

  • Hannah House Bed & Breakfast

    0.56 miles

  • Courtyard by Marriott New Bern

    0.70 miles

  • DoubleTree by Hilton

    0.72 miles

  • Bridgepointe Hotel and Marina

    1.07 miles

  • Palace Motel

    1.35 miles

  • Curtis Motel

    1.40 miles

  • Hampton

    2.27 miles

  • SpingHill Suites

    2.29 miles

  • Comfort Suites New Bern Near Cherry Point

    2.35 miles

  • Holiday Inn Express New Bern

    3.31 miles

  • Five Points Food Market

    0.74 miles

  • Aaron's

    1.45 miles

  • Piggly Wiggly

    1.46 miles

  • Piggly Wiggly

    1.79 miles

  • Food Lion

    2.00 miles

  • Food Lion

    2.18 miles

  • Big Lots

    2.42 miles

  • Roses

    2.48 miles

  • Walmart Supercenter

    2.68 miles

  • Belk

    2.69 miles

In-Depth Research Available for this Property

Access more in-depth information about this property — including ownership, tenant details, property characteristics and transaction history, along with local market insights and much more — on CommercialEdge.

Contact Listing Broker

broker

Josh Taylor

SVN | Efird Commercial Real Estate

(252) 670-9590