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506 E Marion St 5 Unit Apartment Building $899,203 CAD ($179,841 CAD/Unit) 7.53% Cap Rate Shelby, NC 28150
EXECUTIVE SUMMARY
Discover this beautifully renovated, turnkey investment opportunity in the heart of Shelby. This multi-unit property features five units, three of which are already leased, providing immediate income potential. Ideally located just a short drive from the vibrant downtown area, this investment gem is ready for its next owner. Renovated in 2022, the property boasts modern updates, including new wiring, HVAC systems, kitchens, appliances, and more. With all the hard work already done, this property is primed and ready for its new owner to start collecting rent. Don’t miss the chance to make this exceptional investment yours!
All units are currently occupied, but Unit 4 will be vacant and available for showings. Please do not disturb any of the tenants. Square footage is from tax records and has not yet been verified. Please contact agent for further details. Some upgrades were permitted as part of the renovations. Listing agent is also the property manager.
All units are currently occupied, but Unit 4 will be vacant and available for showings. Please do not disturb any of the tenants. Square footage is from tax records and has not yet been verified. Please contact agent for further details. Some upgrades were permitted as part of the renovations. Listing agent is also the property manager.
FINANCIAL SUMMARY (PRO FORMA - 2025) Click Here to Access |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
-
|
-
|
FINANCIAL SUMMARY (PRO FORMA - 2025) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
PROPERTY FACTS
| Price | $899,203 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $179,841 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 1.18 AC |
| Cap Rate | 7.53% | Building Size | 4,980 SF |
| No. Units | 5 | No. Stories | 3 |
| Property Type | Multifamily | Year Built/Renovated | 1950/2022 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | RO | ||
| Price | $899,203 CAD |
| Price Per Unit | $179,841 CAD |
| Sale Type | Investment |
| Cap Rate | 7.53% |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 1.18 AC |
| Building Size | 4,980 SF |
| No. Stories | 3 |
| Year Built/Renovated | 1950/2022 |
| Opportunity Zone |
Yes |
| Zoning | RO |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Cable Ready
- Dishwasher
- Microwave
- Washer/Dryer
- Heating
- Kitchen
- Refrigerator
- Stainless Steel Appliances
- Range
- Tub/Shower
- Island Kitchen
- Vinyl Flooring
- Large Bedrooms
SITE AMENITIES
- 24 Hour Access
- Tenant Controlled HVAC
- Individual Locking Bedrooms
- Private Bathroom
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 5 | $1,747 CAD | 850 - 950 |
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506 E Marion St
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