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32643714
32643710

49 Corban Ave SW, Concord, NC 28025

ZB
NC NC 315119
Britt Commercial Real Estate
Listed by Britt Commercial Real Estate
$1,900,000
23 days on market
Updated 10 days ago

49 Corban Ave SW

Details
APN 56209619020000, 56209710400000
Property Type Multifamily
Sub Type Apartment Building
Square Footage 13,536
Units 14
Cap Rate 7.58%
NOI $143,978
Occupancy 92.85%
Tenancy Multi
Pro-Forma Cap Rate 8.47%
Pro-Forma NOI $161,008
Price per SqFt $140
Year Built 1927
Year Renovated 2024
Buildings 1
Acreage 0.436
Investment Type Value Add

Downtown Concord | 14 Units

Marketing description

100% occupied with a current rent roll of $186,840 per year, 49 Corban Ave is an irreplaceable 14-unit multifamily asset located in the heart of Downtown Concord. The property offers a rare combination of in-place income and meaningful upside, with room to continue increasing rents to market. Full of timeless character and tasteful updates, the property features 9 of 14 units already renovated with modern finishes, along with significant capital improvements completed by current ownership. Positioned directly adjacent to the Downtown Concord Social District and surrounded by over $200M in completed and ongoing public and private investment, 49 Corban Ave offers investors a rare opportunity to own a generational downtown corner asset with in-place cash flow and a clear path to continued NOI growth.

Investment highlights

  • Irreplaceable Downtown Location
  • Remaining Value-Add
  • Significant CapEx Already Done

Listing Contacts

ZB
NC NC 315119
Britt Commercial Real Estate
Listed by Britt Commercial Real Estate

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Loan Amount
$0.00
Annual Debt Service
$--
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Annual Cash Flow
$143,978.00
$11,998.17/mo

Valuation Metrics

0
DSCR
7.58%
Cap Rate
7.58%
ROI

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Additional Information

Name
Zachary Britt
License
NC 315119
Brokerage
Britt Commercial Real Estate
Brokerage Phone
6159711553
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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