Opportunity is Knocking in Anderson Heights…

Anderson Heights is an established and upscale ITB neighborhood. It has an eclectic mix of well-maintained older homes as well as several newer homes built to fit in with the neighborhood. There are smaller homes valued in the mid $200's to some larger homes valued over $1 million. With about 1000 homes encompassing a little over 70 acres, you are sure to find something to fit your style and budget.

The winding streets are lined with mature hardwoods and established landscaping, and there are several naturally forested green space areas connected to the Raleigh greenway system. Anderson Heights is centrally located near Five Points and is just east of the Carolina Country Club. It is generally bounded by St. Mary's St and Glenwood Ave, running parallel to Anderson Drive up to Six Forks Road. Rothgeb Park is a significant amenity at the northern part of this community. Easy access to North Hills - Midtown, as well as Cameron Village, Glenwood South, NC State University, and Downtown Raleigh make this a desirable area. Two turn access to I-440 and beyond allow you efficient transportation corridors to the airport, RTP and the rest of the Triangle.

So what about this great opportunity?

Realty Times recently ran an article about the key features that sell a home - The real truth is "Location, condition, and price." And price trumps every other factor.

We are currently offering 2206 Anderson Drive for sale. The home was originally built in 1939 as a brick cottage with a garage in the basement. Because of the way that the lot was subdivided - of what was once a larger family tract - a shared drive (west side) was installed and is still in use. The home was expanded after some time and currently sits as a three-unit building, with separate utilities and egress. There is a small creek in the backyard as well as mature hardwoods and lawn - the lot size is almost half an acre.The current condition of the apartments is less than perfect because of deferred maintenance, but the structure and systems are sound and operational.

So here is the best part…

This property is absolutely bursting with potential. It is currently set up to cash flow as three separate apartments, and because of its stellar location should garner premium rents. A person with vision might also appreciate the opportunity to recombine the apartment units into a great ITB home - the structure and patina of an historical classic paired with the modern systems, details and floorplan elements the ITB lifestyle requires. The best part is that the home is bargain priced for either option. In fact, the home is priced so low that it might even make sense to bulldoze the lot and start from scratch.This property is within walking distance of the best features of ITB and the Five Points area.

Do you need commercial financing in order to purchase it as an investment property?

Commercial financing is certainly an option. However, we have several conventional programs that are available that are much more flexible. Because of the offering price, there is also plenty of room to include renovations and upgrades into the purchase. Please contact us for more specific details.

What about permitting for reconstruction?

We have performed a solid preliminary investigation into the issues related to recombining the apartment units into a single home. A project of this sort is certainly more advanced than a typical weekend warrior might undertake, however, it is a very common renovation project for homes in this area. Specific issues would obviously depend on the exact plans and desires of the finished project. We would be happy to talk about all the hairy details our contractor has uncovered in person. We have done some preliminary pricing with our contractor. Absolutely nothing we have investigated should present a problem to a person with vision.

A little bit about Anderson Heights

Currently, Anderson Heights is an established and upscale ITB neighborhood. IT has an eclectic mix of well-maintained older homes as well as several newer homes built to fit in with the neighborhood. There are smaller homes valued in the mid $200's to some larger homes valued over $1 million. With about 1000 homes encompassing a little over 70 acres, you are sure to find something to fit your style and budget.

The winding streets are lined with mature hardwoods and established landscaping, and there are several naturally forested greenspace areas connected to the Raleigh greenway system - specifically, this home overlooks Fallon Park, a protected stream buffer that flows into Crabtree Creek.

Anderson Heights is centrally located and borders Five Points and just east of the Carolina Country Club. It is generally bounded by St. Mary's St and Glenwood Ave running parallel to Anderson Dr up to Six Forks Rd. Rothgeb Park is a significant amenity at the northern part of this community. Easy access to North Hills - Midtown, as well as Cameron Village, Glenwood South, NC State University, and Downtown Raleigh make this a desireable area. 2-turn access to I440 and beyond allow you efficient transportation coridors to the airport, RTP and the rest of the Triangle.

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We've got a lot more information about this neighborhood and all of the other ITB communities - just let us know what you're looking for! We Guarrantee you will be able to find something you LOVE! Remember...