505 W Warren St, Shelby, NC 28150

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Building Details:

• Year Built: 1972

505 W Warren St is located in Shelby, NC.

Warren Oak Apartments are being listed based on a 9% Cap Rate of the 2014 Net Operating Income. A Discounted Cash Flow would result in a much higher cap rate. The current owner has an unwritten policy of only raising rent when a new tenant takes possession, so the majority of the apartments are rented well under market rates.

4 x 3-Bedroom 2 Bath 1150 sqft units
2 x 2-Bedroom 2 Bath 800 sqft units
10 x 2-Bedroom 1 & 1/2 Bath 975 sqft Units
In-Ground Pool
Coin-Operated Laundry Facility