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West 5th Ave Apartments 907 W 5th Ave 5 Unit Apartment Building $580,000 ($116,000/Unit) 7.54% Cap Rate Gastonia, NC 28052
Investment Highlights
- Exceptional multifamily investment opportunity with value-add and organic rent growth potential.
- Rare opportunity to purchase a well-maintained property in a rapidly expanding area, as Gastonia is one of the fastest growing cities in North Carol
- All units were recently renovated, and rents are generally below market, positioning the property well for organic rent increases.
Executive Summary
Exceptional 5-unit multifamily investment opportunity with value-add and organic rent growth potential.
• Strategically located near I-85 and in close proximity to FUSE District and downtown Gastonia, providing employment and lifestyle abundance within walking or short driving distance.
• All units were recently renovated, and rents are generally below market, positioning the property well for organic rent increases.
• Rare opportunity to purchase a well-maintained property in a rapidly expanding area, right around the corner from the FUSE District and Gastonia's charming and revitalizing downtown. Gastonia is one of the fastest growing cities in North Carolina and a major part of one of the fastest growing metropolitan areas in the nation (Charlotte MSA).
• Strategically located near I-85 and in close proximity to FUSE District and downtown Gastonia, providing employment and lifestyle abundance within walking or short driving distance.
• All units were recently renovated, and rents are generally below market, positioning the property well for organic rent increases.
• Rare opportunity to purchase a well-maintained property in a rapidly expanding area, right around the corner from the FUSE District and Gastonia's charming and revitalizing downtown. Gastonia is one of the fastest growing cities in North Carolina and a major part of one of the fastest growing metropolitan areas in the nation (Charlotte MSA).
Data Room Click Here to Access
- Offering Memorandum
Property Facts
| Price | $580,000 | Apartment Style | Single-Family Home |
| Price Per Unit | $116,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.20 AC |
| Cap Rate | 7.54% | Building Size | 3,700 SF |
| No. Units | 5 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built/Renovated | 1920/2023 |
| Zoning | RS-8 - Residential | ||
| Price | $580,000 |
| Price Per Unit | $116,000 |
| Sale Type | Investment |
| Cap Rate | 7.54% |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Single-Family Home |
| Building Class | C |
| Lot Size | 0.20 AC |
| Building Size | 3,700 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1920/2023 |
| Zoning | RS-8 - Residential |
Amenities
Unit Amenities
- Kitchen
- Refrigerator
- Oven
- Stainless Steel Appliances
- Tub/Shower
- Yard
- Freezer
- Porch
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Property Taxes
| Parcel Number | 107766 | Improvements Assessment | $348,710 |
| Land Assessment | $0 | Total Assessment | $348,710 |
Property Taxes
Parcel Number
107766
Land Assessment
$0
Improvements Assessment
$348,710
Total Assessment
$348,710
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West 5th Ave Apartments | 907 W 5th Ave
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