703 Davidson St 7 Unit Apartment Building $650,000 ($92,857/Unit) 4.99% Cap Rate Thomasville, NC 27360

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.