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902 Culbreth Ave 6 Unit Apartment Building $797,807 CAD ($132,968 CAD/Unit) 5.38% Cap Rate Thomasville, NC 27360
Investment Highlights
- Full brick construction with metal roof and vinyl windows for long-term durability.
- Each unit includes central HVAC and washer/dryer connections for tenant convenience.
- Positioned near major Triad cities with easy access to highway corridors.
- Six units with individual utility metering, reducing owner expenses.
- Located on 0.43 acres with asphalt parking and well-maintained landscaping.
- Opportunity for income growth through rent adjustments and light improvements.
Executive Summary
This 6-unit apartment complex at 902 Culbreth Avenue in Thomasville, NC presents a compelling investment opportunity in the heart of the North Carolina Triad. The property consists of five 2-bedroom/1-bath units and one 3-bedroom/1.5-bath unit, totaling nearly 6,000 square feet. Each unit is individually metered for utilities and features central HVAC, washer/dryer connections, and modern finishes, ensuring operational efficiency and tenant appeal.
Constructed in 2004 with a full brick exterior, metal roof, and vinyl windows, the property offers durability and minimal long-term capital expenditures. The site spans 0.43 acres and includes an asphalt parking lot and attractive landscaping. With pro forma rents of $900 for 2-bedroom units and $1,050 for the 3-bedroom unit, the property is positioned for immediate income growth and value-add potential through modest updates.
Located within easy reach of Winston-Salem, Greensboro, and High Point, the property benefits from strong regional connectivity and access to major highways. This stabilized, low-maintenance asset offers investors a rare combination of current income and upside potential in a growing market.
Constructed in 2004 with a full brick exterior, metal roof, and vinyl windows, the property offers durability and minimal long-term capital expenditures. The site spans 0.43 acres and includes an asphalt parking lot and attractive landscaping. With pro forma rents of $900 for 2-bedroom units and $1,050 for the 3-bedroom unit, the property is positioned for immediate income growth and value-add potential through modest updates.
Located within easy reach of Winston-Salem, Greensboro, and High Point, the property benefits from strong regional connectivity and access to major highways. This stabilized, low-maintenance asset offers investors a rare combination of current income and upside potential in a growing market.
Property Facts
| Price | $797,807 CAD | Building Class | C |
| Price Per Unit | $132,968 CAD | Lot Size | 0.43 AC |
| Sale Type | Investment | Building Size | 5,868 SF |
| Cap Rate | 5.38% | Average Occupancy | 100% |
| No. Units | 6 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 2004 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise | ||
| Zoning | R6 - Residential | ||
| Price | $797,807 CAD |
| Price Per Unit | $132,968 CAD |
| Sale Type | Investment |
| Cap Rate | 5.38% |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.43 AC |
| Building Size | 5,868 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 2004 |
| Opportunity Zone |
Yes |
| Zoning | R6 - Residential |
1 1
Fairly walkable
40/100
Exceptionally drivable
90/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Number | 16-060-0-00A-0067-0-0-0 | Improvements Assessment | $0 CAD |
| Land Assessment | $0 CAD | Total Assessment | $481,749 CAD |
Property Taxes
Parcel Number
16-060-0-00A-0067-0-0-0
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$481,749 CAD
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902 Culbreth Ave
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