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Colony Apartments 48708 Us Highway 52 N 24 Unit Apartment Building $2,460,492 CAD ($102,521 CAD/Unit) Richfield, NC 28137
Investment Highlights
- Great Location
- Single Level Brick Construction
Executive Summary
Seller Financing Available!! With the following terms. $1,800,000 purchase price, $500k down. Finance $1,300,000 at 7% on 20 year amortization with 5 year ballon. Makes their payment to us 10k per month. Buyers easily cash flow with these terms.
Financial Summary (Actual - 2024) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$290,715
|
$17.50
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$290,715
|
$17.50
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$140,046
|
$8.43
|
| Net Operating Income |
$150,670
|
$9.07
|
Financial Summary (Actual - 2024)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $290,715 |
| Annual Per SF | $17.50 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $290,715 |
| Annual Per SF | $17.50 |
| Taxes (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses (CAD) | |
|---|---|
| Annual | $140,046 |
| Annual Per SF | $8.43 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $150,670 |
| Annual Per SF | $9.07 |
Property Facts Under Contract
Amenities
Unit Amenities
- Air Conditioning
- Storage Space
- Washer/Dryer Hookup
- Heating
- Ceiling Fans
- Kitchen
- Tub/Shower
- Double Pane Windows
- Vinyl Flooring
Site Amenities
- Courtyard
About 48708 US HIGHWAY 52 N , RICHFIELD, NC 28137
12 All brick buildings with 23 apartment units, approximately 21,900 heated square feet, on 8 acres, zoned Highway Business, average yearly operating income $212,676, average yearly expenses $102,452.58, average net income $110,223. 16 of the 23 units have been renovated with heat pumps, replacement windows, LVP flooring, paint, & fixtures. There's room to build additional buildings & units if desired. Property is serviced by public water supply & on site private sewer treatment system. Great location right on Highway 52 just outside Phifer University & near Hwy 49 with quick commute to Kannapolis, Concord, & Charlotte NC.
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 12 | - | - |
| 2+1 | 12 | - | - |
1 1
Property Taxes
| Parcel Number | 6613-03-44-8640 | Improvements Assessment | $1,021,577 CAD (2025) |
| Land Assessment | $251,517 CAD (2025) | Total Assessment | $1,273,094 CAD (2025) |
Property Taxes
Parcel Number
6613-03-44-8640
Land Assessment
$251,517 CAD (2025)
Improvements Assessment
$1,021,577 CAD (2025)
Total Assessment
$1,273,094 CAD (2025)
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Colony Apartments | 48708 Us Highway 52 N
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