Albemarle Multifamily Investment
208 S 3rd Street, Albemarle, NC 28001
MULTI_FAMILY - Other - Albemarle, NC
Property size:
3,600 SFLot size:
0.17 AcresPrice / SF:
$109/SF- Added:
- Mar 17, 2026
- Days on Market:
- 60
- Last Refresh:
- May 15 at 12:06 pm
Property Features for 208 S 3rd Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- CBD
- Bedrooms
- 8
- Bathrooms
- 4
- Rooms
- Bathroom 4, Basement, Bathroom 3, Bedroom 7, Bedroom 6, Bathroom 1, Bedroom 3, Bedroom 8, Bedroom 5, Bedroom 4, Bedroom 2, Bathroom 2, Bedroom 1
- Parking features
- On Street
- Patio and Porch features
- Porch
- Interior features
- Attic Other
- Fireplace
- 1
- Basement
- Unfinished, Dirt Floor
- Appliances
- Electric Range, Refrigerator
- Standard status
- Active Under Contract
- APN
- 6548-03-33-1795
- Size
- 3,600 SF
- Lot size
- 0.17 Acres
Taxes and HOA fees
- Tax Description
- Lot 5 Map 2 Page 88 of Colonel F.E. Starnes Estate
Utilities
- Utilities
- Cable Available
- Sewer type
- Public Sewer
- Heating system
- Central, Electric (Heating)
- Cooling system
- Attic Fan, Electric, Central Air
Building Details
- Year built
- 1918
- Floors in Building
- 3
- Number of units
- 4
- Flooring type
- Carpet, Laminate
- Building materials
- Vinyl
- Roof type
- Composition
- Architectural style
- Other
- Additional Structures
- Other
Listing agent Daniel Fisher License #228185 (704) 617-3544
Listing office Fisher Herman Realty LLC PO Box 49453, Charlotte, NC (704) 544-5643
Listing date Mar 17, 2026
MLS# 4358248
Listing URL
Copyright © 2026 Canopy MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- High‑income potential with flexible CBD zoning allowing for Short‑Term Rental (STR) conversion, projected ADR of $180-$215.
- Four individual units with separate entrances and no common areas, minimizing operational overhead.
- Prime location in Albemarle's Revitalized Core, 100% walkable to downtown amenities.
- Low‑maintenance design with vinyl exterior and individually metered utilities, resulting in negligible landlord expenses.
- Value‑add opportunity through light cosmetic improvements and potential income via STR bike parking or storage.
- Modern, energy‑efficient HVAC systems and ceiling fans in each unit.
Overview
This stabilized, high-margin 3,600 square foot multifamily property is located in the heart of Albemarle's revitalized core. The configuration features four 900 square foot units, each containing two bedrooms and one bathroom, a covered front porch, and an independent exterior entry. Each unit has a similar layout and is separately metered for electric and water. The functional two-level layout includes full kitchens, dining, and living areas on the main floor, with bedrooms and updated bath elements upstairs. Flooring is typically durable LVP or laminate with carpet on the stairs. Modern energy-efficient HVAC systems and ceiling fans keep tenant utility costs low. The vinyl exterior, street parking, and minimal landscaping keep landlord maintenance negligible. An unfinished basement provides emergency egress and contains storm water control infrastructure. Significant value-add potential exists through light cosmetic improvements and the flexible Central Business District zoning, which allows easy conversion to Short-Term Rental (STR) or Mid-Term Rental (MTR) use. The independent direct-entry layouts are suitable for contactless check-in. The property is positioned to capture stable demand from traveling medical professionals and staff at Atrium Health Stanly, Pfeiffer University Health Sciences campus visitors, Albemarle Business Center employees, brewery tourists, and outdoor adventurers heading to Uwharrie National Forest. Guests are steps from the walkable downtown, including local shops, cafes, a brewing company, wineries, street festivals, and art walks. The property has no common areas, effectively eliminating unbillable utility costs, cleaning requirements, and management friction. Wood-burning fireplaces are currently sealed closed. Located on a 0.1722-acre lot, this property offers a versatile management model, strong rental history, light cosmetic upside, and multiple income strategies. It is located in an AE flood zone.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Quadplexes
Location Insight
- Map
- Local Demand
- City
- Albemarle
- County
- Stanly
- State
- North Carolina
- Longitude
- -80.196594
- Latitude
- 35.3480444
Nearby Similar for Sale
FAQs
What type of property is this?
Quadplex - Stabilized multifamily asset in Albemarle's revitalized core with value-add potential.
Where is this quadplex located?
The property is located at 208 S 3rd Street Albemarle, NC.
What is the asking price?
The asking price for this property is $395,000.
What are key features of this property?
This property features: High‑income potential with flexible CBD zoning allowing for Short‑Term Rental (STR) conversion, projected ADR of $180-$215.; Four individual units with separate entrances and no common areas, minimizing operational overhead.; Prime location in Albemarle's Revitalized Core, 100% walkable to downtown amenities.
