Kannapolis Multifamily Investment Opportunity

220 Basin Avenue, Kannapolis, NC 28083

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For Sale

$1,299,000

MULTI_FAMILY - Kannapolis, NC

Lot size:

1.50 Acres

HighLights

8‑unit residential portfolio: 5 homes total (3 duplexes and 2 SFR) on the same block in downtown Kannapolis
Over 8% CAP rate reported for the portfolio, with over 60% of rents guaranteed
3 units have new kitchens with granite counters; 4–5 of the homes received new roofs in 2024
Re‑rented in under 30 days per the remarks, with long‑term tenants backed/guaranteed by a community health program
Central heating and cooling plus baseboard heat; ceiling fans and electric cooling listed
Public sewer and driveway parking; year built 1940 with hardboard siding, vinyl, and wood materials

We can help!

Contact an agent

Logan Abrams

For Sale

$1,299,000

MULTI_FAMILY - Kannapolis, NC

Lot size:

1.50 Acres

Added:: Apr 15, 2026
Days on Market:: 81
Last Refresh:: Jul 4 at 3:06 pm

Property Features for 220 Basin Avenue

General Information

Property type: Residential Multi Family
Property subtype: Other
Bedrooms: 10
Bathrooms: 8
Rooms: Bathroom 4, Bedroom 3, Bathroom 5, Bathroom 8, Bathroom 1, Bathroom 2, Bedroom 2, Bathroom 3, Bedroom 9, Bedroom 6, Bedroom 7, Bathroom 6, Bedroom 1, Bedroom 8, Bathroom 7, Bedroom 4, Bedroom 10, Bedroom 5
Parking features: Driveway
Pets allowed: Yes
Appliances: Dishwasher, Electric Cooktop, Electric Oven, Electric Water Heater
Standard status: Active
APN: 5613-99-3721-0000
Lot size: 1.50 Acres

Taxes and HOA fees

Tax Description: Multi

Utilities

Sewer type: Public Sewer
Heating system: Central, Baseboard
Cooling system: Varies by Unit, Ceiling Fan(s), Electric, Central Air

Building Details

Year built: 1940
Number of units: 8
Building materials: Hardboard Siding, Vinyl, Wood

We can help!

Contact an agent

Logan Abrams

Listing agent Logan Abrams License #230121

Listing office Realty One Group Revolution 8035 Providence Rd Ste 350, Indian Trail, NC

Listing date Apr 15, 2026

MLS# 4370322 Listing URL

HighLights

8‑unit residential portfolio: 5 homes total (3 duplexes and 2 SFR) on the same block in downtown Kannapolis
Over 8% CAP rate reported for the portfolio, with over 60% of rents guaranteed
3 units have new kitchens with granite counters; 4–5 of the homes received new roofs in 2024
Re‑rented in under 30 days per the remarks, with long‑term tenants backed/guaranteed by a community health program
Central heating and cooling plus baseboard heat; ceiling fans and electric cooling listed
Public sewer and driveway parking; year built 1940 with hardboard siding, vinyl, and wood materials

Overview

This portfolio consists of 8 units across 5 homes, including 3 duplexes and 2 single-family residences, situated on the same block in downtown Kannapolis. The neighborhood is experiencing rapid appreciation and features new construction homes. The portfolio operates at over an 8% capitalization rate. Three units feature new kitchens with granite counters, and 4 of the 5 homes received new roofs in 2024. The units experience high demand and are re-rented in under 30 days. Long-term tenants are backed and guaranteed by a community health program, providing stable rental income. The property is located in Kannapolis, North Carolina.

Property Profile Location Intelligence

Current Use by Public Records

Duplexes

Suggested Use

Location Insight

Map
Local Demand

City: Kannapolis
County: Cabarrus
State: North Carolina
Longitude: -80.6150893
Latitude: 35.4969606

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For sale
Duplexes
NC
Kannapolis
28083
220 Basin Avenue

What type of property is this?

Duplex - Portfolio of 8 units with guaranteed rents in Kannapolis.

Where is this duplex located?

The property is located at 220 Basin Avenue Kannapolis, NC.

What is the asking price?

The asking price for this property is $1,299,000.

What are key features of this property?

This property features: 8‑unit residential portfolio: 5 homes total (3 duplexes and 2 SFR) on the same block in downtown Kannapolis; Over 8% CAP rate reported for the portfolio, with over 60% of rents guaranteed; 3 units have new kitchens with granite counters; 4–5 of the homes received new roofs in 2024

220 Basin Avenue, Kannapolis, NC 28083

MULTI_FAMILY - Kannapolis, NC

Property Features for 220 Basin Avenue

General Information

Taxes and HOA fees

Utilities

Building Details

We can help!

HighLights

Overview

Current Use by Public Records

Suggested Use

Location Insight

Nearby Similar for Sale

Kannapolis Commercial Space For Sale

Income-Producing Duplex in Growing Kannapolis

Kannapolis Commercial Property For Sale

Kannapolis Retail Property For Sale

Kannapolis Office Building For Sale

Updated Duplex in Revitalized Kannapolis

Versatile Commercial Property For Sale

Kannapolis Church Facility For Sale

Kannapolis Duplex with Mixed Zoning

Medical Office Building Net Leased

Kannapolis Home with Commercial Potential

Kannapolis Retail Opportunity Near Downtown

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