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208 Basin Ave 8 Unit Apartment Building Offered at $1,910,150 CAD at a 8.55% Cap Rate Kannapolis, NC 28083
Executive Summary
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!
Additional addresses - 200 Basin, 210 Basin, 132 & 134 Basin, 220 Basin, 517 & 519 Denver
Additional addresses - 200 Basin, 210 Basin, 132 & 134 Basin, 220 Basin, 517 & 519 Denver
Property Facts
| Price | $1,910,150 CAD | Property Type | Multifamily |
| Price Per Unit | $238,769 CAD | Lot Size | 0.17 AC |
| Sale Type | Investment | Building Size | 1,160 SF |
| Cap Rate | 8.55% | No. Stories | 1 |
| No. Units | 8 | Year Built | 1940 |
| Price | $1,910,150 CAD |
| Price Per Unit | $238,769 CAD |
| Sale Type | Investment |
| Cap Rate | 8.55% |
| No. Units | 8 |
| Property Type | Multifamily |
| Lot Size | 0.17 AC |
| Building Size | 1,160 SF |
| No. Stories | 1 |
| Year Built | 1940 |
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Fairly walkable
40/100
Very drivable
80/100
Limited public transit
30/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Number | 5613-99-4537-0000 | Improvements Assessment | $86,047 CAD |
| Land Assessment | $55,568 CAD | Total Assessment | $141,615 CAD |
Property Taxes
Parcel Number
5613-99-4537-0000
Land Assessment
$55,568 CAD
Improvements Assessment
$86,047 CAD
Total Assessment
$141,615 CAD
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208 Basin Ave
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