MCGEE
REAL ESTATE COMPANY, INC.
Proudly Presents
St.
John's Terrace Apartments
1000 East Pope Street
Dunn, North Carolina
$1,250,000
FOR MORE INFORMATION CALL:
TED O. McGEE, JR,
CELL: 803-730-8879
Click to enlarge any of these images
St.
John’s Terrace Apartments consists of 13 two-story
walk-up apartment buildings and 1 one-story office/laundry facility
building located at 1000 East Pope Street, Dunn, Harnett County,
North Carolina. The lot provides good visibility and access. The
exterior of the subject is comprised of brick. The subject property
is located in Flood Zone X, according to Flood Insights Community
Panel #370264-0185D, dated April 16, 1990.
The buildings
contain a total of 52 units. The property contains 5 one-bedroom/one-bath
Section 8 units with 720 sq ft for a total of 3,600 sq ft, 3 one-bedroom/one-bath
Section 236 units with 720 sq ft for a total of 2,160 sq ft; 24
two-bedroom/one-bath Section 8 with 900 sq ft for a total of 21,600
sq ft; 14 three-bedroom Section 8units with 1, 050 sq ft for a total
of 14,700 sq ft; 2 three-bedroom/one-bath Section 236 units with
1,050 sq ft for a total of 2,100 sq ft; ad 4 four-bedroom/one-bath
Section 8 units with 1,200 sq ft for a total of 4,800 sq ft. The
total net rentable area is 48,960 square feet.
The table on
page 2 describes the unit mix for all 52 units at the property.
This rent comparability study has been completed to determine the
market rent for the 47 Section 8 units. The remaining 5 units are
Section 236.
There are thirty-two
people on the waiting list for the units—five for one-bedroom
units; seven for two-bedroom units; eighteen for three-bedroom units;
and two for four-bedroom units.
Each unit contains
a living area, dining area, kitchen, bath and bedroom(s). Unit amenities
include a range/oven, refrigerator, carpet and tile floor coverings,
blinds and walk-in closets.
Heating, cooking,
cooling and hot water are electric. Heating\and cooling are a central
system. The landlord provides water, sewer and trash services. Cable
service is also available, but it is the responsibility of the resident
to pay for any bills incurred with this hood-up.
The property
contains a laundry facility and parking lot. The manager for the
property, Teresa Whitman, confirmed the
Phone # is 910-892-0461.
| Unit
Type |
#
Units |
Interior
Size
SF |
#
PJT-Based
Section 8 Units |
Rent
Restricted
Units |
Not
Rent Restricted |
| 1/1 |
8 |
720 |
5 |
3 |
0 |
| 2/1 |
24 |
900 |
24 |
0 |
0 |
| 3/1 |
16 |
1,050 |
14 |
2 |
0 |
| 4/1 |
4 |
1,200 |
4 |
0 |
0 |
| |
52 |
|
|
5 |
0 |
The buildings were originally constructed in 1975. The subject appears
to be in fair to good condition. Currently, the subject is 94% occupied.
There is one one-bedroom Section 236 unit and two two-bedroom Section
8 Units vacant.
| Unit
Type |
#
Units |
Subsidy |
Size |
Contract
Rent |
Utility
Allowance |
| 1BR/1BA |
5 |
Section
8 |
720 SF |
$403 |
$82 |
| 1BR/1BA |
3 |
Section
236 |
720 SF |
$369 |
$82 |
| 2BR/1BA |
24 |
Section
8 |
900 SF |
$448 |
$100 |
| 3BR/1BA |
14 |
Section
8 |
1,050 SF |
$504 |
$115 |
| 3BR/1BA |
2 |
Section
236 |
1,050 SF |
$461 |
$115 |
| 4BR/1BA |
4 |
Section
8 |
1,200 SF |
$561 |
$122 |
|
