907 5Th AveGastonia, NC 28052

Property Details for 907 5Th Ave

Year built

1920

Lot size

0.20 AC

Property type

Residential income properties

Property subtype

Multifamily properties

Description

This exceptional 5-unit apartment building presents a compelling investment opportunity in the heart of Gastonia, NC. Located at 907 W 5th Ave, this property boasts a prime downtown location within the thriving Greater Charlotte MSA, offering easy access to I-85 and major employers. The building, constructed in 1920 and extensively renovated in 2023, comprises four one-bedroom/one-bathroom units and one three-bedroom/one-bathroom unit, totaling 3,700 square feet of net rentable space. Recent renovations included a new roof, plumbing, electrical systems, siding, gutters, flooring, cabinets, and countertops. Approximately 75% of the HVAC systems are less than five years old, and the property features new windows and PEX pipes. The 0.2-acre lot offers public street parking and two driveway spaces. The property currently generates a Net Operating Income (NOI) of $36,013, representing a 5.86% capitalization rate. The asking price is $615,000, or $123,000 per unit, and the land value is $166.22 per square foot. Gaston County's robust economy, fueled by major employers and significant growth, makes this a highly attractive investment with strong potential for future appreciation. The planned extension of the Lynx Silver Line into Gastonia further enhances the area's connectivity and economic prospects, promising continued growth and increased property values. This is a rare opportunity to acquire a recently renovated, high-performing multifamily asset in a rapidly developing market.

Location Insight

City

Gastonia

County

Gaston

State

North Carolina

Latitude

35.2568

Longitude

-81.196

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].