Listed by Greysteel Company LLC Washington, D.C., Greysteel
$525,000
West 5th Ave Apartments
Details
APN 107766
Property Type Multifamily
Sub Type Apartment Building
Square Footage 3,700
Units 5
Cap Rate 8.33%
NOI $43,750
Year Built 1920
Year Renovated 2023
Buildings 1
Stories 2
Acreage 0.200
Zoning RS-8
Investment Type Value Add
Multifamily | 5 Units | $105,000/unit
Investment highlights
· Exceptional multifamily investment opportunity with value-add and organic rent growth potential.
· Strategically located near I-85 and in close proximity to FUSE District and downtown Gastonia, providing employment and lifestyle abundance within walking or short driving distance.
· All units were recently renovated, and rents are generally below market, positioning the property well for organic rent increases.
· Rare opportunity to purchase a well-maintained property in a rapidly expanding area, as Gastonia is one of the fastest growing cities in North Carolina and a major part of one of the fastest growing metropolitan areas in the nation (Charlotte MSA).
Listing Contacts
Listed by Greysteel Company LLC Washington, D.C., Greysteel
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$43,750.00
$3,645.83/mo
Valuation Metrics
0
DSCR
8.33%
Cap Rate
8.33%
ROI
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