220 Basin Avenue, Kannapolis, NC 28083
- $1,299,000
- 10
- BD
- 5,450
- SqFt
Listing courtesy of Realty One Group Revolution. logan@charlottesagent.com
- List Price
- $1,299,000
- MLS#
- 4370322
- Status
- ACTIVE
- Days on Market
- 105
- Property Type
- Residential Income
- Year Built
- 1940
- Price Change
- ▼ $76,000 1782847512
- Bedrooms
- 10
- Full Baths
- 8
- Lot Size
- 65,340
- Lot Size Area
- 1.5
- Living Area
- 5,450
- Sq Ft Total
- 5450
- County
- Cabarrus
- Special Conditions
- None
Property Description
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!
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Additional Information
- Equipment
- Dishwasher, Electric Cooktop, Electric Oven, Electric Water Heater
- Foundation
- Crawl Space
- Laundry Location
- In Kitchen
- Heating
- Baseboard, Central, Other - See Remarks
- Water
- City
- Sewer
- Public Sewer
- Exterior Construction
- Hardboard Siding, Vinyl, Wood
- Parking
- Driveway
- Driveway
- Gravel, Paved
- Elementary School
- Unspecified
- Middle School
- Unspecified
- High School
- Unspecified
- Total Property HLA
- 5450
Mortgage Calculator
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