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703 Davidson St
Thomasville, NC 27360
Multifamily Property For Sale
·
7 Units
Investment Highlights
- Full brick exterior with vinyl windows and asphalt shingle roofing for low maintenance.
- Individually metered utilities for all units, reducing owner expenses.
- Convenient location with access to major highways and proximity to Winston-Salem, Greensboro, and High Point.
- Seven spacious two-bedroom, one-bathroom units, each with central HVAC and washer/dryer connections.
- Interiors feature classic wooden cabinetry, Formica countertops, and large windows for natural light.
- Well-maintained property with attractive landscaping and asphalt parking lot in very good condition.
Executive Summary
This 7-unit apartment complex at 703 Davidson Street in Thomasville, NC presents a rare opportunity for investors seeking stabilized income with strong upside potential. Built in 2002 and professionally managed for over two decades, the property features full brick construction, vinyl windows, and asphalt shingle roofing for long-term durability and minimal capital expenditures. Each unit is individually metered for utilities, reducing owner-paid expenses and simplifying management.
The property consists of seven spacious two-bedroom, one-bathroom units, each approximately 875 square feet, with central HVAC, washer/dryer connections, and a quiet residential setting. Interiors include classic wooden cabinetry, Formica countertops, and large windows for natural light. Bathrooms feature fiberglass shower/tub inserts for modern efficiency.
Located in the heart of the North Carolina Triad, the property offers convenient access to major highways and is within commuting distance to Winston-Salem, Greensboro, and High Point. With proforma rents at $900 per unit and an asking price of $650,000, this asset is positioned for immediate income growth and long-term value appreciation.
The property consists of seven spacious two-bedroom, one-bathroom units, each approximately 875 square feet, with central HVAC, washer/dryer connections, and a quiet residential setting. Interiors include classic wooden cabinetry, Formica countertops, and large windows for natural light. Bathrooms feature fiberglass shower/tub inserts for modern efficiency.
Located in the heart of the North Carolina Triad, the property offers convenient access to major highways and is within commuting distance to Winston-Salem, Greensboro, and High Point. With proforma rents at $900 per unit and an asking price of $650,000, this asset is positioned for immediate income growth and long-term value appreciation.
Property Facts
| Price Per Unit | $92,857 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.53 AC |
| Cap Rate | 4.99% | Building Size | 5,048 SF |
| No. Units | 7 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 2002 |
| Property Subtype | Apartment | Parking Ratio | 1.71/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | R6 - Residential | ||
| Price Per Unit | $92,857 |
| Sale Type | Investment |
| Cap Rate | 4.99% |
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.53 AC |
| Building Size | 5,048 SF |
| No. Stories | 1 |
| Year Built | 2002 |
| Parking Ratio | 1.71/1,000 SF |
| Zoning | R6 - Residential |
Amenities
Unit Amenities
- Air Conditioning
- Washer/Dryer Hookup
- Heating
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 7 | - | - |
Property Taxes
| Parcel Number | 16-031-0-00B-0003-A-0-0 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $323,770 |
Property Taxes
Parcel Number
16-031-0-00B-0003-A-0-0
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$323,770
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