1075 7Th AveHickory, NC 28601

Property Details for 1075 7Th Ave

Property type

Residential income properties

Property subtype

Multifamily properties

Description

This stabilized Class B apartment building, located at 1075 7th Ave NW in Hickory, NC 28601, presents a compelling investment opportunity. The property boasts eight units, each a two-bedroom, one-bathroom apartment, totaling 5,632 square feet of net rentable space. Currently operating at 100% occupancy, generating a Net Operating Income (NOI) of $72,000, and offering a 6.67% capitalization rate, this property provides immediate cash flow. The asking price is $1,080,000, or $135,000 per unit. The building features all-brick construction and a recently replaced roof, ensuring long-term durability and minimizing maintenance costs. Its prime location in Hickory, near the new Riverwalk and other significant community developments, promises strong rental demand and future appreciation potential. This turnkey investment is ideal for those seeking a stable, high-yield asset in a rapidly growing area. The property is situated in Catawba County and offers a strong return on investment. This is a fully leased property with a solid rent roll, making it an attractive option for investors seeking immediate income generation.

Location Insight

City

Hickory

County

Catawba

State

North Carolina

Latitude

35.7429

Longitude

-81.3573

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