208 Basin Ave - Multi-Family FOR SALE


Kannapolis, NC 28083
$1,375,000 USD
704-239-8763
208 Basin Ave, Kannapolis, NC for Sale
$1,375,000 USD
Multi-Family - FOR SALE
1/11
null | 8.55% Cap Rate

208 Basin Ave
Kannapolis, NC 28083


OVERVIEW

Pick up a great portfolio consisting of 8 units, 5 homes (3 duplex, 2 SFR) in the rapidly appreciating market of downtown Kannapolis, all on the same block! The nhood features several new construction homes and rising rents. This portfolio represents over an 8% CAP rate which is hard to find, especially when so much of the work has already been done and over 60% of the rents are guaranteed! 3 of the units have new kitchens with granite counters, 4/5 of the homes have new roofs in 2024. These units are in high demand and are re-rented in under 30 days with long term tenants who are backed & guaranteed by a community health program providing very stable rental income. Come see all the new development taking place in/around Kannapolis and prepare to be impressed! Additional addresses - 200 Basin, 210 Basin, 132 & 134 Basin, 220 Basin, 517 & 519 Denver

FOR SALE DETAILS

PRICE

$1,375,000 USD

PRICE/SF

$1,185 USD /SF

# OF UNITS

8

PRICE/UNIT

$171,875

CAP RATE

8.55%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1940

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.17 AC

LAND SF

7,357 SF

ZONING

-

APN/PARCEL ID

5613-99-4537-0000

ASK ABOUT THIS PROPERTY

Logan AbramsRealty One Group RevolutionMore Info
704-239-8763

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

Logan AbramsRealty One Group RevolutionMore Info
704-239-8763

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