516 Keen Street
Rocky Mount, NC 278048-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.
$475,000
bedrooms
full bathrooms
0.52 acres
5,805 square feet
$82 per square foot
- Exterior Features
- Interior Features
- Property Features
- Construction Materials Asphalt, Batts Insulation, Brick
- Lot Size Acres 0.52
- Appliances Electric Oven, Refrigerator
- Cooling Wall/Window Unit(s)
- Cooling Y/N Yes
- Heating Y/N Yes
- Tax Annual Amount 262610
- Year Built 1978
Additional Property Information
- TypeMulti Family
- Built1978
- Neighborhood
- CountyNash
- AreaRocky Mount
- Elementary School
- Middle School
- High School
Listing courtesy of CAROLINA HERITAGE REALTY LLC. © 2026 Triangle MLS, Inc. of North Carolina. All Rights Reserved. Information deemed reliable but not guaranteed.
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