315 Hamilton DrConcord, NC 28025

Property Details for 315 Hamilton Dr

Year built

1973

Lot size

0.65 AC

Property size (Sq ft)

7,508 SF

Property type

Apartment buildings

Description

This exceptional 8-unit apartment building, located at 315 Hamilton Dr NE in Concord, NC, presents a compelling investment opportunity. Built in 1973 and extensively renovated in 2024, this Class B property boasts 7,508 square feet on a 0.65-acre lot, offering a strong net operating income (NOI) of $125,640 and a 7.41% cap rate. The asking price is $1,695,000, translating to $225.76 per square foot and $211,875 per unit. The property includes 15 parking spaces and benefits from a sub-metering system for water and sewer, with tenant responsibility for these utilities, as well as electricity. Landlord responsibilities include trash and landscaping. Seven of the eight units are currently leased, with one unit available for immediate lease. This turnkey property offers excellent income potential once fully occupied. The property's location in the heart of Concord, NC, and its recent renovations make it an attractive investment for both seasoned and new investors. The property features one building and the APN is 5621-72-8692-0000. There is no ground lease.

Location Insight

City

Concord

County

Cabarrus

State

North Carolina

Latitude

35.4229

Longitude

-80.5846

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