16-Unit Apartment
For Sale
$1,520,000
1955 1967 Lakeview Rd, Asheboro, NC 27203
Two separate buildings contain individually metered apartments with one bedroom and one bathroom per unit.
Property Size8,800 SF
Price / SF$172.73
Days on Market15
Property Features for 1955 1967 Lakeview Rd
General Information
Standard status
Active
Size
8,800 SF
Property subtype
Multi-Family
Units
Unit Mix
16 x 1BR/1BA
Multifamily Units
16
Individually Metered Utilities
electricity
Building Details
Year Built
1980
Buildings
2
Listing Agency:
RE/MAX Executive
Listed By:
Angela Hoke · License #247515
(704) 707-6632
Source:
Lewisandkirk
Added: Oct 16
Changed: Oct 26
Last Checked: Sep 6 at 6:37AM
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 RE/MAX Executive
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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.
The property comprises 16 apartment units across two buildings. Each apartment has one bedroom and one bathroom, and electricity is individually metered by unit. Water is paid by the owner. Both buildings were built in 1980 and are included together in the tax value.
Key Highlights
- 16 apartment units across 2 separate buildings
- Each unit has 1 bedroom and 1 bathroom
- Electricity is individually metered for each apartment
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$70,625
Cap Rate
4.65%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,412,500
$1.4M
Cap Rate 7%
$1,008,929
$1.0M
Cap Rate 9%
$784,722
$784.7K
Market Conditions
NOI Build-Up for 8,800 SF
Gross rent
$135.2K $15.36/SF
− Vacancy
−$6.8K −$0.77/SF
EGI
$128.4K $14.59/SF
− OpEx
−$57.8K −$6.57/SF
NOI
$70.6K $8.03/SF
Area
Randolph County, NC
Vacancy
5.00%
Lease Rate
$15.36 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,412,500
Cap Rate 7%
$1,008,929
Cap Rate 9%
$784,722
Alternative Uses
Best Use
Apartment 5plus
$1.01M
$882.8K – $1.18M
NOI $70,625 @ 7.0% cap · market cap 4.65%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.03M
$2.65M – $3.53M
NOI $211,899 @ 7.0% cap · market cap 13.94%
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
16
Residential units
Location Intelligence
Trade Area within ½ mile
70
Businesses Nearby
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Business Placement
Demographics for 27203, NC
21,869
Population
9,937
Households
2.2
Avg Household Size
37
Median Age
17%
College-Educated
81%
High-School Grad
22.5 sq mi
ZIP Area
972
Density / Sq Mi
$47,506
Median Household Income
$32,900
Median Earnings
$852
Median Rent
$141,100
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Two separate buildings contain individually metered apartments with one bedroom and one bathroom per unit.
Where is this apartment building located?
The property is located at 1955 1967 Lakeview Rd Asheboro, NC.
What is the asking price?
The asking price for this property is $1,520,000.
What are key features of this property?
This property features: 16 apartment units across 2 separate buildings; Each unit has 1 bedroom and 1 bathroom; Electricity is individually metered for each apartment
