Five-Unit Apartment
For Sale
$625,000
1308 Linwood Road, Gastonia, NC 28052
Multifamily property with consistent two-bedroom layouts, central HVAC, and individual utility metering.
Property Size3,360 SF
Days on Market9
Property Features for 1308 Linwood Road
General Information
Standard status
Active
Size
3,360 SF
Property subtype
Residential Income
Units
Unit Mix
5 x 2BR/1BA
Multifamily Units
5
Additional Details
Utilities to Site
Yes
Amenities
washer/dryer hookups
individually metered utilities
city trash pickup
central HVAC
Building Details
Building Size
3,360 SF
Year Built
1980
Units
5
Listing Agency:
Britt Commercial Real Estate, LLC
(615) 971-1553
Listed By:
Zach Britt · License #315119
Source:
Techrealtyllc
Added: Aug 3
Changed: Aug 8
Last Checked: Aug 10 at 11:00AM
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 Britt Commercial Real Estate, LLC
Investment Insights
Based on property information with market context.
Built in 1980, this apartment property at 1308 Linwood Road contains five 2BR/1BA units. Each apartment includes washer/dryer hookups and central HVAC, providing a consistent configuration across the building.
Utilities are individually metered for water, electricity, and gas. City trash service is also provided, supporting a straightforward operating setup for the property in Gastonia, North Carolina.
Utilities are individually metered for water, electricity, and gas. City trash service is also provided, supporting a straightforward operating setup for the property in Gastonia, North Carolina.
Key Highlights
- Five 2BR/1BA apartment units
- Built in 1980
- Central HVAC in all units
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$35,548
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.69%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$710,960
$711.0K
Cap Rate 7%
$507,829
$507.8K
Cap Rate 9%
$394,978
$395.0K
Market Conditions
NOI Build-Up for 3,360 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$70.6K $21.00/SF
− Vacancy
−$5.9K −$1.76/SF
EGI
$64.6K $19.24/SF
− OpEx
−$29.1K −$8.66/SF
NOI
$35.5K $10.58/SF
Area
Gaston County, NC
Vacancy
8.40%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$710,960
Cap Rate 7%
$507,829
Cap Rate 9%
$394,978
Alternative Uses
Best Use
Apartment 5plus
$507.8K
$444.4K – $592.5K
NOI $35,548 @ 7.0% cap · market cap 5.69%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.06M
$925.4K – $1.23M
NOI $74,028 @ 7.0% cap · market cap 11.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
20
Businesses Nearby
Explore this area
Business Placement
Demographics for 28052, NC
35,332
Population
15,561
Households
2.3
Avg Household Size
38
Median Age
16%
College-Educated
83%
High-School Grad
41.4 sq mi
ZIP Area
853
Density / Sq Mi
$46,015
Median Household Income
$34,339
Median Earnings
$1,058
Median Rent
$173,500
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 - Multifamily property with consistent two-bedroom layouts, central HVAC, and individual utility metering.
Where is this apartment building located?
The property is located at 1308 Linwood Road Gastonia, NC.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: Five 2BR/1BA apartment units; Built in 1980; Central HVAC in all units
