Four-Unit Multifamily
New
For Sale
$460,000
1212 1214 1216 1218 Alexander Street, Statesville, NC 28677
Two newer duplexes combine current tenancy in one building with leasing flexibility in the other.
Property Size2,024 SF
Lot Size0.36 Acres
Price / SF$164.29
Days on Market4
Property Features for 1212 1214 1216 1218 Alexander Street
General Information
Standard status
Active
Size
2,024 SF
Lot size
0.36 Acres
Property subtype
Duplex
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Additional Details
Tenant in Place
Yes
Amenities
Dimensions: 189x90x178x13x67, Corner Lot
Architectural Shingle
Public Sewer
Additional parcels description:, Parcel Number: 4734-46-2089.000, Assessed Value: $473,670, Zoning: R5MF
Vinyl
Central Air
Heat Pump
Electric Dryer Hookup, In Kitchen, Washer Hookup
Listing ID: CAR4437691, Standard Status: Active, MLS Status: Active, Property Subtype: Duplex, 2 days on market, Special Conditions: Subject to Lease
8 open parking spaces, Other Parking: Large driveway with ample parking for units., Driveway, Other - See Remarks
Elementary School: N.B. Mills, Middle School: Third Creek, High School: Statesville
8 total bedrooms
Built in 2024, Living area: 2800, Construction Materials: Vinyl
County/Parish: Iredell
4 full bathrooms
Electricity Connected, Water Source: City
Crawl Space
Exterior Maintenance
Allowed: Call
All Utilities
Road Responsibility: Publicly Maintained Road, Road Surface: Asphalt, Paved
Electric Oven, Electric Range, Electric Water Heater, Refrigerator
Building Details
Building Size
2,024 SF
Year Built
2024
Buildings
2
Listing Agency:
Michael Andrew Group LLC
Listed By:
Michael Mejia · License #324746
(980) 777-4200
Source:
Blackstreaminternational
Added: Oct 28
Changed: Oct 30
Last Checked: Oct 30 at 3:09PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Michael Andrew Group LLC
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
At 1212, 1214, 1216, and 1218 Alexander Street in Statesville, this multifamily property consists of two duplex buildings completed in 2024. The four units contain 2,800 square feet in total and sit on approximately 0.36 acres. Each residence has 2 bedrooms and 1 bathroom, for a combined 8 bedrooms and 4 bathrooms. One duplex is occupied, with both leases running through mid-2027; both units in the second building are vacant.
Key Highlights
- Two duplex buildings completed in 2024
- Four residential units totaling 2,800 square feet
- Approximately 0.36 acres
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,456
Cap Rate
5.53%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$509,120
$509.1K
Cap Rate 7%
$363,657
$363.7K
Cap Rate 9%
$282,844
$282.8K
Market Conditions
NOI Build-Up for 2,800 SF
Gross rent
$48.7K $17.40/SF
− Vacancy
−$2.4K −$0.87/SF
EGI
$46.3K $16.53/SF
− OpEx
−$20.8K −$7.44/SF
NOI
$25.5K $9.09/SF
Area
Iredell County, NC
Vacancy
5.00%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$509,120
Cap Rate 7%
$363,657
Cap Rate 9%
$282,844
Alternative Uses
Best Use
Apartment 5plus
$363.7K
$318.2K – $424.3K
NOI $25,456 @ 7.0% cap · market cap 5.53%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$881.3K
$771.1K – $1.03M
NOI $61,690 @ 7.0% cap · market cap 13.41%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
204
Businesses Nearby
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Business Placement
Demographics for 28677, NC
35,926
Population
16,096
Households
2.2
Avg Household Size
41
Median Age
22%
College-Educated
85%
High-School Grad
83.0 sq mi
ZIP Area
433
Density / Sq Mi
$59,081
Median Household Income
$34,684
Median Earnings
$861
Median Rent
$207,000
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Multifamily property - Two newer duplexes combine current tenancy in one building with leasing flexibility in the other.
Where is this multifamily property located?
The property is located at 1212 1214 1216 1218 Alexander Street Statesville, NC.
What is the asking price?
The asking price for this property is $460,000.
What are key features of this property?
This property features: Two duplex buildings completed in 2024; Four residential units totaling 2,800 square feet; Approximately 0.36 acres
