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49 Corban Ave SW 14 Unit Apartment Building $1,900,000 ($135,714/Unit) 7.58% Cap Rate Concord, NC 28025
Executive Summary
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.
Property Facts
| Price | $1,900,000 | Building Class | C |
| Price Per Unit | $135,714 | Lot Size | 0.46 AC |
| Sale Type | Investment | Building Size | 13,560 SF |
| Cap Rate | 7.58% | Average Occupancy | 100% |
| No. Units | 14 | No. Stories | 3 |
| Property Type | Multifamily | Year Built/Renovated | 1927/2025 |
| Property Subtype | Apartment | Parking Ratio | 1.47/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | RC | ||
| Price | $1,900,000 |
| Price Per Unit | $135,714 |
| Sale Type | Investment |
| Cap Rate | 7.58% |
| No. Units | 14 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.46 AC |
| Building Size | 13,560 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built/Renovated | 1927/2025 |
| Parking Ratio | 1.47/1,000 SF |
| Zoning | RC |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Oven
- Tub/Shower
Site Amenities
- 24 Hour Access
- Tenant Controlled HVAC
- Online Services
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 14 | - | 600 - 800 |
1 1
Moderately walkable
60/100
Moderately drivable
70/100
Limited public transit
30/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Numbers | Improvements Assessment | $618,990 | |
| Land Assessment | $100,000 | Total Assessment | $718,990 |
Property Taxes
Parcel Numbers
Land Assessment
$100,000
Improvements Assessment
$618,990
Total Assessment
$718,990
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49 Corban Ave SW
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