BEDS24
BATHS12 full 12 partial
SQUARE FEET9,947
MLS#4365281
STATUSActive Under Contract
PROPERTY TYPEMulti Unit - Multiple
Property Description
This opportunity represents a well-maintained and fully occupied, 12-unit townhome community in Stanley, NC, offering immediate in-place cash flow with upside at an attractive basis of $125,000/unit. 118-120 Ethel Dr consists of twelve 2BR/1.5BA units (~780 SF), with meaningful capital improvements already completed, including a new roof, siding, numerous HVAC replacements, and interior renovations to 10 units between 2020?2024.Current rents average $973 providing ~$177/unit in upside to $1,150 for MTM agreements and as leases turn through 2026?2027, along with additional NOI growth through remaining renovations and the potential to own the washers and dryers in the common laundry. Located just 18 miles northwest of Uptown Charlotte with easy access to I-485 and I-85, Stanley continues to benefit from strong renter demand driven by its affordability and proximity to major employment hubs.
Property Features
Property Type: Multi Unit - Multiple
Heating: Central
Lot Size: 0.78 Acres
Year Built: 1973
Feature Descriptions
Appliances: Electric Range, Refrigerator
Days on Site: 110
Exterior: Brick Partial, Vinyl
Foundation: Crawl Space
Laundry: Common Area
Parcel#: 134284
Parking: Parking Space(s)
Pets Allowed: Conditional
Sewer: Public Sewer
Units: 12
Water: City
Local Schools
High School: East Gaston
Middle School: Stanley
Elementary School: Springfield
Listed By / Shown By
Listed By
Agency Name: Britt Commercial Real Estate, LLC
Agency Contact: zbritt@brittcre.com
Shown By
Agency Title: Lake Norman Realty
Agency Phone: 704-450-1175
Estimate Your Payment
Estimated Payment
$ 0.00 per month $0.00 Principal & Interest $0.00 Property Tax (data not provided by mls) $0.00 Homeowner's Insurance
118 Ethel Drive | MLS# 4365281
This multi-family property located at 118 Ethel Drive, Stanley, NC 28164 is currently listed for sale with an asking price of call for price. Search Stanley real estate on www.lakenormanrealty.com today.