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7-Unit Apartment Building
For Sale
Under Contract
$575,000

400 N Boundary Street, East Spencer, NC 28144

Residential Income, East Spencer, NC

Property SizeContact for details
Lot Size1.06 Acres
Days on Market190

Property Features for 400 N Boundary Street

General Information

Property type Residential Multi Family
Property subtype Duplex
Zoning R-1
Zoning description R1
Bedrooms 13
Bathrooms 8
Full bathrooms 8
Rooms Bedroom 2, Bathroom 2, Bedroom 7, Bedroom 8, Bedroom 12, Bedroom 5, Bathroom 6, Bedroom 3, Bathroom 7, Bedroom 13, Bedroom 10, Bathroom 3, Bedroom 9, Bedroom 11, Bedroom 1, Bathroom 1, Bathroom 8, Bathroom 4, Bedroom 6, Bedroom 4, Bathroom 5
Parking features Parking Lot
Elementary school Unspecified
Middle school Unspecified
High school Unspecified
Standard status Active Under Contract
APN 027041
Lot size 1.06 Acres

Taxes and HOA fees

Tax Description 1.06AC CALC
Legal Description 1.06AC CALC

Utilities

Sewer type Public Sewer
Heating system Baseboard
Cooling system Window Unit(s)

Building Details

Year built 1990
Floors in Building 1
Number of units 7
Building materials Aluminum, Vinyl
Listing Agency: Keller Williams South Park · Keller Williams Realty
Listed By: Shanteria Williams
Added: Feb 18 Changed: Aug 26 Last Checked: Aug 27 at 5:06AM
MLS# 4347066

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.

This multifamily property at 400 N Boundary Street comprises 3 buildings and 7 units on 1.06 acres. The one-level layout includes two 3BR/1BA units, four 1BR/1BA units, and one 3BR/2BA unit. The property was built in 1990 and features aluminum and vinyl construction, baseboard heating, window unit cooling, and a parking lot.

The property is served by public sewer and is zoned R-1. Its East Spencer location places the buildings within Rowan County, North Carolina. The unit mix combines smaller one-bedroom residences with larger three-bedroom layouts across the site.

Key Highlights

  • 3 buildings containing 7 units
  • Unit mix includes two 3BR/1BA, four 1BR/1BA, and one 3BR/2BA units
  • 1.06‑acre multifamily property

Property Analytics

Current Use

Apartment buildings

Suggested Use

Top Pick Real Estate Agency Restaurant Big Box & Wholesale Store Auto Parts Store Spa & Massage Center Hair Salon

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

7
Residential units

Location Intelligence

Trade Area within ½ mile

63
Businesses Nearby

Demographics for 28144, NC

26,254
Population
12,655
Households
2.1
Avg Household Size
40
Median Age
27%
College-Educated
89%
High-School Grad
30.1 sq mi
ZIP Area
872
Density / Sq Mi
$51,432
Median Household Income
$29,787
Median Earnings
$982
Median Rent
$205,900
Median Home Value

Market

Vacancy Rate% for Multifamily in South region

8.5% 2022
10.2% 2023
11.4% 2024
11.3% 2025
Rey
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Frequently Asked Questions

What type of property is this?
Apartment building - Single-level units include one- and three-bedroom configurations with on-site parking.
Where is this apartment building located?
The property is located at 400 N Boundary Street East Spencer, NC.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: 3 buildings containing 7 units; Unit mix includes two 3BR/1BA, four 1BR/1BA, and one 3BR/2BA units; 1.06‑acre multifamily property
More about this property
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