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13 Newfound St, Canton, NC 13 Newfound St 18 Unit Apartment Building $2,600,000 ($144,444/Unit) 7.25% Cap Rate Canton, NC 28716
INVESTMENT HIGHLIGHTS
- 7.25% Cap Rate investment opportunity in downtown Canton, NC
- Strong rental income with no vacancies and a waitlist
- Long-term tenants in a walkable location near shops, restaurants, and breweries
- 18-unit, 14,646 SF historic apartment building on 0.19 acres
- Mix of studio, one-, and two-bedroom units with natural light
- Minutes to Waynesville and Asheville with easy I-40 access
EXECUTIVE SUMMARY
7.25% Cap Rate investment opportunity in the heart of Canton, NC – this 18-unit, 14,646 SF historic apartment building sits on a 0.19-acre lot and delivers strong rental income with no vacancies and a waitlist. Featuring a mix of studio, one-, and two-bedroom units filled with natural light, the property is home to many long-term tenants. Ideally located within walking distance to shops, restaurants, and breweries such as BearWaters Brewing and Southern Porch, and just minutes from Ingles, Food Lion, and downtown Waynesville, with convenient access to I-40 for a quick 15–20 minute drive into Asheville. A rare, income-producing asset in a growing market—please do not disturb tenants. Contact listing agent for details.
PROPERTY FACTS
| Price | $2,600,000 | Apartment Style | Low-Rise |
| Price Per Unit | $144,444 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.21 AC |
| Cap Rate | 7.25% | Building Size | 10,059 SF |
| No. Units | 18 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 4 |
| Property Subtype | Apartment | Year Built | 1930 |
| Zoning | CR-2 - Residential | ||
| Price | $2,600,000 |
| Price Per Unit | $144,444 |
| Sale Type | Investment |
| Cap Rate | 7.25% |
| No. Units | 18 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.21 AC |
| Building Size | 10,059 SF |
| Average Occupancy | 100% |
| No. Stories | 4 |
| Year Built | 1930 |
| Zoning | CR-2 - Residential |
AMENITIES
UNIT AMENITIES
- Heating
- Kitchen
- Hardwood Floors
- Refrigerator
- Range
- Freezer
SITE AMENITIES
- Controlled Access
- Laundry Facilities
- Property Manager on Site
- Storage Space
- Private Bathroom
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PROPERTY TAXES
| Parcel Number | 8657-81-8963 | Improvements Assessment | $387,200 |
| Land Assessment | $31,000 | Total Assessment | $418,200 |
PROPERTY TAXES
Parcel Number
8657-81-8963
Land Assessment
$31,000
Improvements Assessment
$387,200
Total Assessment
$418,200
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13 Newfound St, Canton, NC | 13 Newfound St
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