Investment Condo at 523 S West St, Raleigh, NC 27601 - $-84,156 Profit
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523 S West St, Raleigh, NC 27601

Unit - #402

$1,395,000

Description

Investment Opportunity: Active on the Market: Resideline estimates that this property can be rented on Airbnb for an average of $341 per day and long-term for an average of $2,674 per month, based on similar listings in the area. Estimated short-term cap rate of -3.8%. Estimated long-term cap rate of -6.0%. Are you ready for the excitement of living in a luxury Condo in the heart of Raleigh. The Fairweather Condos is the right place for you! This sprawling condominium offers you an amazing home with an even more amazing location. The open floor-plan and high ceilings will melt away the confines of any daily hustle. The bright and lavishly equipped kitchen has a gourmet 6 burner Gas stove and water-falling Quartz countertops. The Kitchen also has Custom Cabinets and a Custom tiled Backsplash unlike any other condo you will see. There is an unbelievable amount of storage space between the 2 utility rooms, 2 walk-in pantries, and 2 walk in closets and a huge laundry room with built in cabinets! If you can't decide which of the two outdoor patios to sit on, you can open the folding wall of glass patio doors and let the breeze fill your whole home. Powered blinds for the Primary bed and bath allow you to brighten up your morning with the touch of a button. Having a friendly gathering? Then head up to the roof and enjoy multiple views of the Raleigh Skyline while grilling on the Community gas grill and sitting around the rooftop Fire pit, As an added Bonus RedHat amphitheater a just a few blocks away... you just might hear your favorite singer play your favorite song! This condo has 2 deeded parking spaces(#28 with Vehicle Charger option) and another floating space by permit. Set up your appointment right now! Your luxury life in a magnificent (and absolutely breathtaking) condo is waiting for you!

Property Information
Airbnb Avg Daily
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Occupancy Rate
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Monthly HOA
$989
Rental Policy
daily
Yearly Taxes
$15280
Bedrooms
3
Bathrooms
3
SQFT
2,826
Furnished
N/A
Year built
2020
Listing Status
Active
MLS
10069170

Short-term Rental Potential
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$63,048

Revenue
Expenses
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Profit
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Cap rate
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Cash on Cash
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$493

Price/SQFT

Long-term Rental Potential
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$32,088

Revenue
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Profit
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Cap rate
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Cash on Cash
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$2,674/mo

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