Current Use by Public Records
- Apartment buildings
Property Details for 1075 7Th Ave
- Property type
- Apartment buildings
Description
This stabilized Class B apartment building, located at 1075 7th Ave NW in Hickory, NC 28601, presents a compelling investment opportunity. The property boasts eight units, each a two-bedroom, one-bathroom apartment, totaling 5,632 square feet of net rentable space. Currently operating at 100% occupancy, generating a Net Operating Income (NOI) of $72,000, and offering a 6.67% capitalization rate, this property provides immediate cash flow. The asking price is $1,080,000, or $135,000 per unit. The building features all-brick construction and a recently replaced roof, ensuring long-term durability and minimizing maintenance costs. Its prime location in Hickory, near the new Riverwalk and other significant community developments, promises strong rental demand and future appreciation potential. This turnkey investment is ideal for those seeking a stable, high-yield asset in a rapidly growing area. The property is situated in Catawba County and offers a strong return on investment. This is a fully leased property with a solid rent roll, making it an attractive option for investors seeking immediate income generation.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Hickory
- County
- Catawba
- State
- North Carolina
- Longitude
- -81.3573
- Latitude
- 35.7429
