516 Keen St Unit A-H, Rocky Mount, NC 27804

Property Description

8-Unit Multifamily Investment Opportunity - Strong Cash Flow with Value-Add Potential Excellent opportunity to acquire an 8-unit multifamily property with immediate income and significant upside. Each unit offers 2 bedrooms and 1 bathroom, a consistently desirable rental configuration. Currently 6 units are leased, with 5 on month-to-month agreements and 1 leased through 11/30, providing flexibility for rent adjustments and future stabilization. The property is producing a current cap rate of 8.1%, with the potential to reach approximately 12% cap rate once renovations are completed and rents are optimized. Two units are vacant and require full renovation, making this a true value-add opportunity for investors looking to increase returns and equity. Property improvements include new windows and doors throughout all units, reducing future capital expenses. Showings: Vacant units available by appointment. Occupied units will be shown after an accepted offer; photos provided in the meantime. Please do not disturb tenants. Ideal for investors seeking a property with existing cash flow, lease flexibility, and clear upside through renovation and rent growth.