Eight-Unit Apartment
For Sale
$1,299,000
220 Basin Avenue, Kannapolis, NC 28083
MULTI_FAMILY - Kannapolis, NC
Property SizeContact for details
Lot Size1.50 Acres
Days on Market127
Property Features for 220 Basin Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Res
Bedrooms
10
Bathrooms
8
Full bathrooms
8
Rooms
Bathroom 3, Bedroom 5, Bedroom 2, Bedroom 8, Bedroom 9, Bedroom 6, Bedroom 4, Bathroom 6, Bathroom 8, Bathroom 1, Bathroom 4, Bedroom 10, Bathroom 2, Bedroom 7, Bedroom 1, Bathroom 5, Bathroom 7, Bedroom 3
Parking features
Driveway
Pets allowed
Yes
Appliances
Dishwasher, Electric Cooktop, Electric Oven, Electric Water Heater
Elementary school
Unspecified
Middle school
Unspecified
High school
Unspecified
Standard status
Active
APN
5613-99-3721-0000
Lot size
1.50 Acres
Taxes and HOA fees
Tax Description
Multi
Legal Description
Multi
Utilities
Sewer type
Public Sewer
Heating system
Baseboard, Central
Cooling system
Electric, Central Air, Ceiling Fan(s), Varies by Unit
Building Details
Year built
1940
Number of units
8
Building materials
Hardboard Siding, Vinyl, Wood
Listing Agency:
Realty One Group Revolution
(704) 659-4409
Listed By:
Logan Abrams · License #230121
(704) 239-8763
Added: Apr 15
Changed: Aug 14
Last Checked: Aug 19 at 2:06AM
MLS# 4370322
Copyright © 2026 Canopy MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Portfolio consists of 8 units across 5 homes: 3 duplex and 2 single-family residences, all on the same block in downtown Kannapolis. The property is situated on a 1.5-acre lot and was built in 1940. Heating includes baseboard and central systems, and cooling includes central air, electric, and ceiling fans (varies by unit). Appliances listed include dishwasher, electric cooktop and electric oven, and electric water heaters. Parking is provided via driveways.
Recent updates described in the remarks include new kitchens with granite counters in 3 of the units, and new roofs in 2024 for 4 of the 5 homes. Sewer service is listed as public sewer. The portfolio is presented as having an over 8% cap rate, with over 60% of rents guaranteed, and the units are described as being re-rented in under 30 days.
All units are included as part of this same-block portfolio at 220 Basin Avenue, Kannapolis, NC 28083.
Recent updates described in the remarks include new kitchens with granite counters in 3 of the units, and new roofs in 2024 for 4 of the 5 homes. Sewer service is listed as public sewer. The portfolio is presented as having an over 8% cap rate, with over 60% of rents guaranteed, and the units are described as being re-rented in under 30 days.
All units are included as part of this same-block portfolio at 220 Basin Avenue, Kannapolis, NC 28083.
Key Highlights
- 8 units across 5 homes: 3 duplex and 2 SFR, all on the same block
- Over 8% CAP rate and over 60% of rents guaranteed
- Re‑rented in under 30 days with long‑term tenants backed and guaranteed by a community health program
Property Analytics
Property Profile
Current Use
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
353
Businesses Nearby
Explore this area
Business Placement
Demographics for 28083, NC
25,821
Population
11,925
Households
2.2
Avg Household Size
38
Median Age
19%
College-Educated
85%
High-School Grad
20.0 sq mi
ZIP Area
1,291
Density / Sq Mi
$60,563
Median Household Income
$39,831
Median Earnings
$1,120
Median Rent
$194,300
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Eight-unit apartment portfolio on the same block with driveway parking and public sewer in downtown Kannapolis, NC.
Where is this apartment building located?
The property is located at 220 Basin Avenue Kannapolis, NC.
What is the asking price?
The asking price for this property is $1,299,000.
What are key features of this property?
This property features: 8 units across 5 homes: 3 duplex and 2 SFR, all on the same block; Over 8% CAP rate and over 60% of rents guaranteed; Re‑rented in under 30 days with long‑term tenants backed and guaranteed by a community health program
