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101 Bay Meadow Court, Lexington, NC 27292

$795,000

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Sold Price: $795,000
List Price: $850,000
Closing Date: Oct 07, 2025
MLS#: 1185606
Status: CLOSED
Type: Multifamily
Subtype: Apartment
Lot Size: 81,457

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Property Description

Investor alert—12-unit brick complex in fast-growing Lexington! 101-123 Bay Meadow Ct offers two matching 2-story buildings on a quiet cul-de-sac: six ground-floor and six upper 1 BR/1 BA flats, each with living room and in-unit laundry. Most boast fresh flooring, paint, updated baths & kitchens; three are leasing now to hit 100 % occupancy. Avg rents $825 + with upside toward $900, for ˜ $120K/yr gross. Separate electric & water meters keep costs down—owner only covers trash & landscaping. Listed $850K = ±8.5 % pro-forma cap with value-add left. Durable brick, vinyl windows, low-care grounds. Quick access to I-85, Toyota Megasite & booming job hubs means strong tenant pool. DO NOT DISTURB RESIDENTS. Agents—see Agent-Only Remarks for showings, rent roll & T-12.

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Additional Information

Acres: 1.87
Appliances: Electric Water Heater
Built Information: Existing
Cooling Type: Central Air
Flooring: Carpet, Vinyl
Garage Description: None
Heating: Heat Pump, Electric
Heating Fuel: Electric
Land Description: Dead End
Lot Description: Dead End
Lot Size: 81,457
Parking: Paved, No Garage
Sewer: Public Sewer
Show Street Address: Yes
Style: Two Story
Total Units: 12
Water: Public
Water Heater: Electric
Year Built: 1986