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Tenant Occupied Sale Homes

Want to buy properties already rented and have a good history of rentals for steady income and ROI? Look no more. Frequently throughout the year, we at Phoenix Realty & Property Management have owners/investors who are looking to exit their RE investments. Reasons are many but the top three are retirement, 1031 exchange, and/or they have achieved their ROI based on depreciation schedule.

List below are tenant occupied homes for sale in Durham, Raleigh and surrounded areas. The leases are active so the new owners will need to agree to live out thru the leases.

2606 University Drive, Durham, NC 27707

Price: $233,900

Current Rent: $1475

Single Family

Year Built: 1955

Sqf.: 1408

Lot: 0.419 Acres

Bedroom: 2

Bathroom: 2


Central Air Coolinig, Forced Air Heating, Attic, Cable Ready, Ceiling Fan, Large Sun Room, single Garage with Front and Back Access, Hardwood and Tile Flooring, Nice Private Front and Back Yard and Lawn.

Beautiful one story ranch in the historical Rockwood neighborhood within three miles of Duke University. It is within walking distance (literally) of Nana Restaurant, Nanataco, The Original QShack, The Boot, and more. Home is seated deep into the lot not easily view from University Drive giving much privacy.  Surrounding neighbors are mid-century homes at much higher prices.  Currently, the home is leased going into its second year.  Contact Phoenix Realty to arrange a showing.  The property is not listed in the MLS per the owner’s request.  This property is perfect for an investor wanting to acquire a value home with much upside potential and with an immediate cash flow.  It has a very nice private backyard with thick bushes and trees buffering the Property.  Please see the pictures provided. The home has many updates and a newer HVAC system. You must respect the tenant’s current lease terms and privacy. Please do not try to access the home on your own; you must have an appointment.

6B Adelaide Walters Street, Chapel Hill, NC 27517

Price: $189,900

Current Rent: $1195

Single Family

Year Built: 1989

Sqf.: 950

Lot: 0.15 Acres

Bedroom: 2

Bathroom: 1


Central Air, Heat Pump, Carpet/Laminate Floor

Tucked behind Colony Lake community without HOA fees.  Easy and short access to 15-501 HWY within easy reach to UNC campus and Duke.  Simple open floor plan with updated look and feel.   Incredible privacy with a fenced back yard.  Extra large deck to enjoy the privacy. Lot has two open gravel parks.  Currently tenant is living there to mid June 2018.  You must respect and uphold the active lease.

* The 1031 exchange can be a powerful tool for investors. Under IRC Section 1031 (a) (1) IRS does not recognize capital gains or losses when an investor exchanges a property used for conducting business for a like-kind property that will be used for business or for investment purposes. While the exchange is tax-deferred, it’s still a taxable event, so using a 1031 exchange must be done properly in order to take advantage of the deferral options.