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$ 1,500,000
Est. payment /mo
New
402 S Ashe AVE Newton, NC 28658
1.33 Acres Lot
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID 4430429
Construction Status Completed
Year Built 1975
Lot Size 1.330 Acres
Acres 1.33
Property Description
Rare investment opportunity in the heart of Newton! This 11-unit brick apartment complex is situated on approximately 1.33 acres and consists of two buildings with ample on-site parking. Conveniently located within walking distance of Downtown Newton, the library, parks, shopping, restaurants, and more, the property offers an attractive combination of location, unit mix, and value-add potential.
The complex features a diverse unit mix, including seven 2-bedroom/1.5-bath units, two 3-bedroom/1.5-bath units, and two single-level 2-bedroom/1-bath units.
Currently, seven of the eleven units are vacant, giving the next owner a unique opportunity to immediately implement their own leasing strategy, complete desired updates, and position the units to maximize future rental potential. The remaining occupied units provide existing rental income while the property is repositioned.
Whether you're looking to expand an existing multifamily portfolio or take advantage of a value-add investment opportunity in a highly convenient location, this 11-unit property offers tremendous potential in vibrant Downtown Newton.
Listing also found under multi-family residential MLS# 4430547.
The complex features a diverse unit mix, including seven 2-bedroom/1.5-bath units, two 3-bedroom/1.5-bath units, and two single-level 2-bedroom/1-bath units.
Currently, seven of the eleven units are vacant, giving the next owner a unique opportunity to immediately implement their own leasing strategy, complete desired updates, and position the units to maximize future rental potential. The remaining occupied units provide existing rental income while the property is repositioned.
Whether you're looking to expand an existing multifamily portfolio or take advantage of a value-add investment opportunity in a highly convenient location, this 11-unit property offers tremendous potential in vibrant Downtown Newton.
Listing also found under multi-family residential MLS# 4430547.
Location
State NC
County Catawba
Zoning R-7
Interior
Heating Natural Gas
Cooling Central Air
Inclusions Building, Land
Exterior
Utilities Available Electricity Connected, Natural Gas
Roof Type Architectural Shingle
Street Surface Paved
Building
Dwelling Type Site Built
Foundation Slab
Sewer Public Sewer
Water City
Structure Type Brick Full
New Construction false
Construction Status Completed
Others
Senior Community false
Restrictions No Restrictions
Acceptable Financing Cash, Conventional, Exchange
Listing Terms Cash, Conventional, Exchange
Special Listing Condition None
© 2026 Listings courtesy of Canopy MLS as distributed by MLS GRID. All Rights Reserved.
Listed by Jairo Betancourt-Uribe • RU4 Real Estate, Inc. • jairo@ru4realestatenc.com