305 Salem Street
Thomasville, NC 27360
0.94 acres | #1185605
Description
Rare 9-unit in downtown Thomasville! Eight spacious 2 BR/1 BA apartments plus one 3 BR/1 BA and a detached storage building on a corner lot. Eight units boast fresh paint, durable LVP, updated baths, and shaker-cab kitchens—only Unit B left for easy value-add. Stroll 0.3 mi to the brand-new Thomasville Aquatics & Community Center with pool, fitness, and events—an instant resident magnet. Area 2 BR market rents average ~$900/mo; at stabilization, potential gross is ±$97K/yr, projecting an 8 %+ cap at the $900K ask. Separate electric meters, city utilities, and low-maintenance brick keep expenses in check. Proven occupancy delivers steady cash flow from day one, with upside in Unit B and the storage building. DO NOT DISTURB TENANTS. Agents—see Agent-Only Remarks for showings and financials.
Property Details
- Property TypeMulti-Family
- Sewer InformationPublic Sewer
- Property SubtypeApartment
- CountyDavidson
- MLS #1185605
- MLS #1185605
- Utility SourcePublic
- Taxes Annual$7,043
- Cost900000
- Acres0.94
- Year Built1971
Location
Legal
Listings identified with the TRIADMLS IDX logo come from TRIADMLS and are held by brokerage firms other than the owner of this website. The listing brokerage is identified in any listing details. Information is deemed reliable but is not guaranteed.
Last Updated: . Source: TRIADMLS
Listing Courtesy
Listing Agent: Landon Stone (#295454)
Listing Office: Real Broker LLC (#GREALBKR01)
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