1075 NW 7th Ave - Apartments FOR SALE


Hickory, NC 28601- Oakwood-Hillcrest
$1,050,000 USD
828-502-9197
1075 NW 7th Ave, Hickory, NC for Sale
$1,050,000 USD
Apartments - FOR SALE
1/16
null | 8.43% Cap Rate

1075 NW 7th Ave
Hickory, NC 28601
Oakwood-Hillcrest


HIGHLIGHTS

  • Fully stabilized investment with eight occupied units and consistent income stream.
  • Recently replaced roof reduces future maintenance obligations.
  • Located near Hickory Riverwalk and new development projects supporting area growth.
  • Generates approximately $88,500 NOI annually with strong rent collection history.
  • 1.12-acre lot with parking availability for tenants and guests.
  • Easy access to employment centers, retail corridors, and major regional connectors.

OVERVIEW

Introducing an 8-unit multifamily investment opportunity at 1075 NW 7th Avenue in the heart of Hickory, North Carolina. This fully leased, all-brick building offers an attractive income stream supported by 100% occupancy and a strong rent roll. Recent upgrades, including a newly replaced roof, enhance long-term durability and reduce near-term capital needs, making this an appealing turnkey solution for investors seeking stability. The property encompasses 1.12 acres and delivers reliable revenue with units currently generating income in the $850 to $925 range per month, equating to approximately $88,500 in annual NOI and an estimated cap rate of 8.19%. Positioned within walking distance of Hickory’s revitalized Riverwalk and surrounded by major community investments, this location stands to benefit from ongoing urban growth initiatives. Tenants enjoy convenience to key roadways, retail amenities, and employment hubs, adding to the site’s long-term desirability. Granville T12 represents a rare opportunity to acquire a cash-flowing asset in a growing market with upside potential through future upgrades and sustained rental demand.

FOR SALE DETAILS

PRICE

$1,050,000 USD

PRICE/SF

$131 USD /SF

# OF UNITS

8

PRICE/UNIT

$131,250

CAP RATE

8.43%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1970

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.12 AC

LAND SF

48,787 SF

ZONING

APT

APN/PARCEL ID

3703130354560000

ASK ABOUT THIS PROPERTY

Caleb RiceC. Rice and AssociatesMore Info
828-502-9197

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Caleb RiceC. Rice and AssociatesMore Info
828-502-9197

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.