Two-Duplex Multifamily
For Sale
$449,000
1401 W Mauney Ave, Gastonia, NC 28052
Brick multifamily buildings on one parcel with established tenancy and one unit scheduled for repair completion before closing.
Property Size3,264 SF
Price / SF$137.56
Days on Market66
Property Features for 1401 W Mauney Ave
General Information
Standard status
Active
Size
3,264 SF
Property subtype
Multi-Family
Building Details
Year Built
1990
Listing Agency:
K2 Real Estate Group
Listed By:
Olga Leggett · License #234194
(704) 962-0868
Source:
Mycrosskeys
Added: Aug 1
Changed: Oct 4
Last Checked: Oct 4 at 11:20AM
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 K2 Real Estate Group
Investment Insights
Based on property information with market context.
This multifamily property includes two duplex buildings situated on one parcel, providing a combined 3,264 square feet of residential space. The brick buildings were constructed in 1990 and are occupied by long-term tenants. One unit is undergoing repairs related to a plumbing issue and is expected to be completed before closing.
Located at 1401 W Mauney Ave in Gastonia, North Carolina, the property offers an existing duplex configuration with established occupancy across the buildings. Showings are available only with a negotiated offer.
Located at 1401 W Mauney Ave in Gastonia, North Carolina, the property offers an existing duplex configuration with established occupancy across the buildings. Showings are available only with a negotiated offer.
Key Highlights
- Two duplex buildings on one parcel
- 3,264 square feet of residential space
- Brick construction completed in 1990
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$37,845
Cap Rate
8.43%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$756,900
$756.9K
Cap Rate 7%
$540,643
$540.6K
Cap Rate 9%
$420,500
$420.5K
Market Conditions
NOI Build-Up for 3,264 SF
Gross rent
$58.8K $18.00/SF
− Vacancy
−$4.7K −$1.44/SF
EGI
$54.1K $16.56/SF
− OpEx
−$16.2K −$4.97/SF
NOI
$37.8K $11.59/SF
Area
Gaston County, NC
Vacancy
7.98%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$756,900
Cap Rate 7%
$540,643
Cap Rate 9%
$420,500
Alternative Uses
Best Use
Multifamily LT 5
$540.6K
$473.1K – $630.8K
NOI $37,845 @ 7.0% cap · market cap 8.43%
Second Best
Apartment 5plus
$493.3K
$431.7K – $575.5K
NOI $34,532 @ 7.0% cap · market cap 7.69%
Theoretical Best
Office A
$1.03M
$898.9K – $1.20M
NOI $71,912 @ 7.0% cap · market cap 16.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
318
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Brick multifamily buildings on one parcel with established tenancy and one unit scheduled for repair completion before closing.
Where is this duplex located?
The property is located at 1401 W Mauney Ave Gastonia, NC.
What is the asking price?
The asking price for this property is $449,000.
What are key features of this property?
This property features: Two duplex buildings on one parcel; 3,264 square feet of residential space; Brick construction completed in 1990
