113 Ellen Place

High-Yield Investment Opportunity: Dual-Income Lakefront Property in Prime Chapel Hill Location!
Rare investment opportunity in a highly desirable Chapel Hill location. This property features a fully renovated, turnkey 3-bedroom ranch with a separate, income-generating lower-level apartment, maximizing rental potential and long-term appreciation. Situated on a private .41-acre lakefront lot on Lake Ellen, this property offers immediate cash flow and significant upside in a market with consistently high demand.
*Investment Highlights: Dual Income Stream:
*Main level: A fully renovated 3-bedroom, 1-bathroom ranch, ideal for premium rental or owner occupancy.
*Lower-level apartment: A completely separate, updated 1,002 sq ft unit with private access, perfect for Airbnb, long-term rental, or executive suite, generating substantial supplemental income.
*Significant Value-Add: Recent renovations: New roof (2023), HVAC (2019), mini-splits (2019, 2023), luxury vinyl plank flooring, new kitchen and bath fixtures, and updated appliances, minimizing immediate capital expenditures.
*Potential for increased rental income: The lower-level apartment's versatility offers flexible rental strategies to maximize returns.
*Prime Location: Lakefront property on Lake Ellen: A highly sought-after location with limited availability, ensuring strong appreciation.
*Chapel Hill School District
*Proximity to amenities: Walking distance to bus lines, trails (Booker Creek Trail, Carolina North), and minutes from UNC Chapel Hill, enhancing tenant appeal.
*Strong Market Fundamentals:
Chapel Hill's rental market: Consistently strong demand due to the presence of UNC Chapel Hill and the area's robust economy.
*Appreciation potential: Lakefront properties in prime locations like Chapel Hill consistently appreciate, offering significant long-term returns.
*Outdoor Living and Amenities:
Gorgeous flagstone patio, fire pit, established gardens, and private lake access with kayak storage, enhancing tenant appeal and potential rental premiums. New storage shed, and fenced in yard.
*Financial Projections: Detailed rental income projections and potential ROI analysis are available upon request. The separate apartment provides a substantial opportunity to increase overall rental income. The improvements made to the property reduces future expenditures.