302 S Broad St - Apartments FOR SALE


Gastonia, NC 28054- Downtown Gastonia
$2,050,000 USD
980-226-6626
302 S Broad St, Gastonia, NC for Sale
$2,050,000 USD
Apartments - FOR SALE
1/7
null | Request Cap Rate

302 S Broad St
Gastonia, NC 28054
Downtown Gastonia


HIGHLIGHTS

  • Property located a short walk from festive downtown Gastonia and minor league baseball park
  • Current in place rents below market, Vacancy rate of Gastonia market: 2.0%
  • Population growth of Gaston County: 1.3% annually
  • Average household income for Gaston County is $85,381 increasing 5.3% year over year
  • Limited supply of like kind of apartments
  • Bull Realty NC license number C17910

OVERVIEW

Located in the heart of Gastonia, NC—just steps from the vibrant downtown and minor league baseball park—this 14-unit multifamily asset presents a compelling value-add opportunity in a high-demand submarket of the Charlotte MSA. Built in 1985 and fully occupied, the property spans ±11,000 square feet across three buildings on nearly an acre of land. The unit mix includes ten 2-bed/1-bath units, two 1-bed/1-bath units, and two 3-bed/1-bath units, each with central HVAC, washer/dryer hookups, and individually metered utilities. Gastonia’s multifamily market is characterized by near-zero vacancy rates (2.0%) and limited new supply, creating strong upward pressure on rents. Current in-place rents are below market, offering immediate upside through strategic renovations and repositioning. The average household income in Gaston County is $85,381 and rising 5.3% annually, further supporting rent growth and long-term appreciation. The property benefits from proximity to Charlotte, one of the fastest-growing cities in the U.S., with over 2.6 million residents in the metro area. Charlotte’s robust economy, anchored by 19 Fortune 1000 companies and a thriving financial sector, drives regional demand for quality housing. With its strategic location, stable occupancy, and below-market rents, this asset is well-positioned to deliver strong cash flow and long-term returns.

FOR SALE DETAILS

PRICE

$2,050,000 USD

PRICE/SF

$186 USD /SF

# OF UNITS

14

PRICE/UNIT

$146,429

CAP RATE

Request Cap Rate

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

100% Occupied | 14-Unit Apartment Complex

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1958

PARKING SPACES

35

LAND DETAILS

LAND ACRES

0.92 AC

LAND SF

40,075 SF

ZONING

APT02

APN/PARCEL ID

109160

ASK ABOUT THIS PROPERTY

Anna Rohde YuanBull Realty Inc.More Info
980-226-6626

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Anna Rohde YuanBull Realty Inc.More Info
980-226-6626

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