Investment Condo at 523 S West St, Raleigh, NC 27601 - $-94,260 Profit
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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 -4.1%. Estimated long-term cap rate of -6.1%. WANT TO LIVE THE LUXURY URBAN LIFESTYLE IN THE HEART OF DOWNTOWN'S WAREHOUSE DISTRICT? THEN WELCOME TO THE FAIRWEATHER: This modern, expansive and open Penthouse unit has lots of usable living spaces that include a sleek kitchen with 6 burner gas range, quartz countertops, large island/bar with waterfall counters, microwave drawer, and walk-in pantry. The open living room has a wet bar, sitting room, and office nook. Two wall doors fold open and back to offer fresh air to the unit. Primary suite contains a walk-in space left blank so you can design the closet of your dreams. Floating double vanity and spacious walk-in shower complete the suite. Two guest bedrooms, one with a covered balcony. Remote controlled shades throughout. The Fairweather offers many unique amenities that include a package delivery concierge system, bike station, dog washing room, gym, and a rooftop lounge with a firepit/gas grill. This unit comes with TWO deeded/assigned parking spaces and TWO storage units in the covered garage. Come and live steps away from Red Hat Ampitheater, Sam Jones BBQ, and all that Downtown Raleigh has to offer!

Property Information
Airbnb Avg Daily
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Occupancy Rate
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Monthly HOA
$1083
Rental Policy
daily
Yearly Taxes
$14365
Bedrooms
3
Bathrooms
3
SQFT
2,695
Furnished
N/A
Year built
2020
Listing Status
Active
MLS
10076113

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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$575

Price/SQFT

Long-term Rental Potential
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$32,088

Revenue
Expenses
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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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