1422 Nottingham Rd Kannapolis, NC 28081

The Townhomes at Cannon Mills is a renovated 24-unit townhome community situated on approximately 2.22 acres. The property features two-story units with 2 bedrooms and 1.5 bathrooms, each with back porches, located in a quiet residential neighborhood. The property offers in-place cash flow with potential for additional revenue through rent optimization and interior modernizations. A recent capital improvement program of approximately $500,000 has reduced near-term capital expenditure needs and supports long-term performance. Improvements include an exterior overhaul with painted brick, metal awnings, shutters, upgraded lighting, and gutters, as well as new concrete patios and railings, new windows, upgraded electrical panels, utility optimization, a new asphalt parking lot with wheel bumpers, and targeted HVAC replacements. These improvements enhance curb appeal, operating efficiency, and durability. Kannapolis is a growth market anchored by the 350-acre North Carolina Research Campus, expanding healthcare, and advanced manufacturing. The property is located approximately 2.5 miles from Downtown Kannapolis, less than 5 miles from Atrium Health Cabarrus, and offers convenient access to I-85. It is approximately 25 miles to Uptown Charlotte, providing strong regional demand drivers with a favorable cost-of-living profile. The property is an upgraded, well-located, income-producing asset positioned for continued performance in a market benefiting from sustained population and income growth.