Northway at Sedgefield 908 Hampton St 77 Unit Apartment Building For Sale Shelby, NC 28152

???????Northmarq is pleased to present the exclusive listing of Northway at Sedgefield, a 1973-vintage townhome community strategically located near Downtown Shelby, North Carolina. Current ownership has completed the majority of the value-add renovations, positioning the Property as a stabilized, cash-flowing asset delivering a low-6% in-place cap rate supported by consistent operating performance. Renovated units have achieved rent premiums of $152+ per month over classic units, illustrating sustained demand at those rent levels with minimal loss-to-lease across recent leasing activity. Additionally, the next owner has the opportunity to restrict 100% of units at 80% AMI to ensure the Property qualifies for North Carolina’s tax abatement program, offering the opportunity to reduce property tax expense and further enhance long-term cash flow durability and overall return profile.
Northway at Sedgefield benefits from proximity to Downtown Shelby’s amenities, along with strong regional connectivity via US-74 and I-85, providing convenient access to major employment hubs across the Carolinas. Continued economic development initiatives led by the Cleveland County Economic Development Partnership, representing over $100 million in recent investment activity, combined with PPG’s announced $380 million expansion, reinforce the area’s expanding manufacturing and industrial base. Supported by durable workforce demand drivers and strengthening economic fundamentals, the Property is well-positioned to sustain long-term housing demand.
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