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!
| MLS # | 4370322 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Year | 1940 |
| Days On Site | 130 |
| Listing Provided By | Realty One Group Revolution | Logan Abrams |
| Bed(s) | 10 |
|---|---|
| Bath(s) | 8 Total |
| SQ Feet | 5,450 |
| Units | 8 |
| Acreage | 1.50 |
| Cooling | Ceiling Fan(s), Central Air, Electric, Varies by Unit |
|---|---|
| Heating | Baseboard, Central, Other - See Remarks |
| Appliances | Dishwasher, Electric Cooktop, Electric Oven, Electric Water Heater |
| Construction Materials | Hardboard Siding, Vinyl, Wood |
|---|---|
| Foundation Details | Crawl Space |
| Garage Yes / No | No |
|---|---|
| Parking Features | Driveway |
| List Aor | Canopy Realtor Association |
|---|
| State | NC |
|---|---|
| County | Cabarrus |
| City | Kannapolis |
| Zip Code | 28083 |
| Area | Cabarrus |
| School District | Unspecified |
| Elementary School | Unspecified |
| High School | Unspecified |
| Listing VS Median (in 28083) | |
Price: $1,299,000 low | high Med: $299,948 sqft: 5,450 low | high Med: 1,423 $ / sqft: $238 low | high Med: $221 On site: 130 low | high Med: 9 | |
| State | NC |
|---|---|
| County | Cabarrus |
| City | Kannapolis |
| Zip Code | 28083 |
| Area | Cabarrus |
| School District | Unspecified |
| Elementary School | Unspecified |
| High School | Unspecified |
| Listing VS Median (in 28083) | |
Price: $1,299,000 low | high Med: $299,948 sqft: 5,450 low | high Med: 1,423 $ / sqft: $238 low | high Med: $221 On site: 130 low | high Med: 9 | |