Three-Unit
829 4th Avenue SW, Hickory, NC 28602
For Sale
New
$315,000
Each apartment has two bedrooms and one bathroom, with shared laundry space available in the basement.
Property Size1,960 SF
Price / SF$145.36
Days on Market4
Property Features for 829 4th Avenue SW
General Information
Standard status
Size
Property subtype
Units
Unit Mix
Multifamily Units
Amenities
Architectural Shingle
Public Sewer
Additional parcels description:, Parcel Number: 3702051870200000, Assessed Value: $176,400
Central Air
Forced Air
Listing ID: CAR4442267, Standard Status: Active, MLS Status: Active, Property Subtype: Triplex, 1 day on market, Special Conditions: None
Driveway
Elementary School: Unspecified, Middle School: Unspecified, High School: Unspecified
Apartment
6 total bedrooms
Built in 1960, Living area: 2167, Construction Materials: Brick Full
County/Parish: Catawba
3 full bathrooms
Water Source: City
Basement
Allowed: Conditional
Road Responsibility: Publicly Maintained Road, Road Surface: Gravel
Gas Oven, Gas Range, Refrigerator
Building Details
Building Size
Year Built
Listing Agency:
Premier Rental Property
(828) 267-5990
Listed By:
Julie Correll · License NC #292672
(828) 381-3272
Source:
Blackstreaminternational
Added: Nov 10
Changed: Nov 12
Last Checked: Nov 12 at 2:30PM
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 Premier Rental Property
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Investment Insights
Based on property information with market context.
This 2,167-square-foot triplex contains three two-bedroom, one-bathroom apartments. All three units are vacant. The two upper apartments have hardwood flooring and fresh paint; the lower apartment has new paint and vinyl plank flooring. A basement area is available for shared laundry, while the apartments have no in-unit laundry hookups.
Built in 1960, the property has two upper units and a lower unit with a separate back entrance.
Built in 1960, the property has two upper units and a lower unit with a separate back entrance.
Key Highlights
- Three 2‑bedroom, 1‑bath apartments; all are currently vacant
- 2,167 square feet; built in 1960
- Upper apartments feature hardwood floors and fresh paint
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,573
Cap Rate
6.21%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$391,460
$391.5K
Cap Rate 7%
$279,614
$279.6K
Cap Rate 9%
$217,478
$217.5K
Market Conditions
NOI Build-Up for 2,167 SF
Gross rent
$29.9K $13.80/SF
− Vacancy
−$1.9K −$0.90/SF
EGI
$28.0K $12.90/SF
− OpEx
−$8.4K −$3.87/SF
NOI
$19.6K $9.03/SF
Area
Catawba County, NC
Vacancy
6.50%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$391,460
Cap Rate 7%
$279,614
Cap Rate 9%
$217,478
Alternative Uses
Best Use
Multifamily LT 5
$279.6K
$244.7K – $326.2K
NOI $19,573 @ 7.0% cap · market cap 6.21%
Second Best
Apartment 5plus
$259.8K
$227.4K – $303.1K
NOI $18,188 @ 7.0% cap · market cap 5.77%
Theoretical Best
Office A
$633.0K
$553.9K – $738.5K
NOI $44,311 @ 7.0% cap · market cap 14.07%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
878
Businesses Nearby
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Business Placement
Demographics for 28602, NC
29,184
Population
12,941
Households
2.3
Avg Household Size
42
Median Age
18%
College-Educated
87%
High-School Grad
70.7 sq mi
ZIP Area
413
Density / Sq Mi
$56,031
Median Household Income
$36,519
Median Earnings
$830
Median Rent
$180,300
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Triplex - Each apartment has two bedrooms and one bathroom, with shared laundry space available in the basement.
Where is this triplex located?
The property is located at 829 4th Avenue SW Hickory, NC.
What is the asking price?
The asking price for this property is $315,000.
What are key features of this property?
This property features: Three 2‑bedroom, 1‑bath apartments; all are currently vacant; 2,167 square feet; built in 1960; Upper apartments feature hardwood floors and fresh paint
