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Updated almost 3 years ago,
Need advice - Multi Family near Dallas NC
My first post so please be patient with my questions: property location is Dallas in NC
Found this 2 Acre parcel with 7 single family Units (one of them duplex) and a commercial garage on it with non conformance zoning grandfathered in. Two units are owner occupied rest are all leased out month to month. Did rent comps and the current rents are 200 to 300 lower than market. Due to the zoning situation, No lender would give me loan. So the seller is ready do seller finance at full price only, and asking for a 30% down. It’s on a private road, 1955 Septic and Well. Do you think it’s worthy the investment to buy this kind of a property?
Appreciate your inputs in advance.