851 Pasteur Street

• 6 Unit SFR Portfolio in Opportunity Zone
• 9.68% Cap Rate (proforma)

Property Description

A unique investment opportunity in the heart of historic New Bern, NC! This property consists of 6 single-family homes, perfectly situated within steps to downtown, offering a rare chance to capitalize on both current rental income and future development potential. Each of these homes features three bedrooms and one bathroom, providing comfortable living spaces with a classic touch. The homes are nestled on one parcel of land, with additional acreage available for development, presenting an exciting prospect for expansion or alternative usage. Value add aspects of this property include its location in an Opportunity Zone and the below-market rents. Low rents provide an immediate opportunity for increased cash flow. Beyond the current rental income, there's an immense potential to transform these properties into short-term, Vrbo, or Airbnb accommodations, catering to the growing demand for unique and centrally located lodging experiences with several wedding and event venues in close proximity. The proximity to downtown New Bern is a key selling point. Residents and guests alike will enjoy the convenience of being just steps away from the Birthplace of Pepsi, vibrant cultural scene, shops, and renowned restaurants that the historic district has to offer. This prime location enhances the property's appeal for both long-term tenants and short-term visitors. Located in a flood zone like much of Downtown New Bern.