220 Basin AvenueKannapolis, NC 28083

Description

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!

Property Information

Property type

Residential Income

Sub-type

Duplex

Year built

1940

Living area

6,750 Sq Ft

Zoning

Res

Days on market

172

MLS^® Listing#

4370322

Property Features

Appliances

Dishwasher · Electric Cooktop · Electric Oven · Electric Water Heater

Cooling

Ceiling Fan(s) · Central Air · Electric · Varies by Unit

Heating

Baseboard · Central

Basement

Crawl Space

Parking

Driveway

Laundry

In Kitchen

Sewer

Public Sewer

Water source

Public

Schools

Elementary

Unspecified

Middle

Unspecified

High

Unspecified

Financial Details

HOA

None

Parcel number

5613-99-3721-0000