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About This Home
This 10-bedroom, 8-bathroom residential multi family at 220 Basin Avenue in Kannapolis, NC is listed for $1,375,000. Built in 1940, on a 1.50 acres lot.
Pick up a great portfolio consisting of 8 units, 5 homes (3 duplex, 2 SFR) in the rapidly appreciating market of downtown Kannapolis, all on the same block! The nhood features several new construction homes and rising rents. This portfolio represents over an 8% CAP rate which is hard to find, especially when so much of the work has already been done and over 60% of the rents are guaranteed!
3 of the units have new kitchens with granite counters, 4/5 of the homes have new roofs in 2024. These units are in high demand and are re-rented in under 30 days with long term tenants who are backed & guaranteed by a community health program providing very stable rental income. Come see all the new development taking place in/around Kannapolis and prepare to be impressed!
Key Features
- Built in 1940
- 1.50 acre lot
Property Details
Amenities
Monthly Cost Estimate
$7,354/mo
20% down · 6.5% · 30 years
Estimates only. Actual payments may vary.
Location
220 Basin Avenue
Kannapolis, NC 28083
Property Details
Construction
Parking
Heating
Cooling
Appliances
Questions & Answers
This 10-bedroom, 8-bathroom residential multi family at 220 Basin Avenue is listed at $1,375,000. The estimated monthly payment is $5,958 based on 20% down at 6.5% interest.
Key features include: Built in 1940, 1.50 acre lot.
This property is listed by Logan Abrams and can be reached at 7042398763 or logan@charlottesagent.com.