Kannapolis Multifamily Investment
220 Basin Avenue, Kannapolis, NC 28083
MULTI_FAMILY - Kannapolis, NC
Lot size:
1.50 Acres- Added:
- Apr 15, 2026
- Days on Market:
- 33
- Last Refresh:
- May 17 at 4:06 pm
Property Features for 220 Basin Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 10
- Bathrooms
- 8
- Rooms
- Bathroom 3, Bathroom 1, Bedroom 9, Bedroom 7, Bathroom 4, Bathroom 8, Bedroom 8, Bedroom 4, Bedroom 1, Bedroom 6, Bathroom 2, Bedroom 10, Bathroom 5, Bathroom 6, Bathroom 7, Bedroom 5, Bedroom 3, Bedroom 2
- 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, Electric, Ceiling Fan(s), Central Air
Building Details
- Year built
- 1940
- Number of units
- 8
- Building materials
- Hardboard Siding, Vinyl, Wood
Listing agent Logan Abrams License #230121 (704) 239-8763
Listing office Realty One Group Revolution 8035 Providence Rd Ste 350, Indian Trail, NC (704) 659-4409
Listing date Apr 15, 2026
MLS# 4370322
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 CAP Rate: Portfolio boasts over an 8% CAP rate, offering a strong return on investment.
- Guaranteed Rental Income: Over 60% of rents are guaranteed, providing stable and reliable cash flow.
- New Roofs: 4 out of 5 homes have new roofs installed in 2024, minimizing near‑term maintenance costs.
- Rapidly Appreciating Market: Located in downtown Kannapolis, a market experiencing rapid appreciation and new development.
- Recently Renovated Units: 3 units feature new kitchens with granite counters, enhancing tenant appeal.
- High Demand & Low Vacancy: Units are re‑rented quickly (under 30 days) with long‑term tenants.
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
Insight Report
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- Kannapolis
- County
- Cabarrus
- State
- North Carolina
- Longitude
- -80.6150893
- Latitude
- 35.4969606
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - Portfolio of 8 units with guaranteed rents in Kannapolis.
Where is this apartment building located?
The property is located at 220 Basin Avenue Kannapolis, NC.
What is the asking price?
The asking price for this property is $1,375,000.
What are key features of this property?
This property features: High CAP Rate: Portfolio boasts over an 8% CAP rate, offering a strong return on investment.; Guaranteed Rental Income: Over 60% of rents are guaranteed, providing stable and reliable cash flow.; New Roofs: 4 out of 5 homes have new roofs installed in 2024, minimizing near‑term maintenance costs.
