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$1,500,000
24 Beds
24 Baths12 full baths + 12 half baths
9,947sqft
118 Ethel Dr, Stanley, NC 28164
$1,500,000
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Apartment
Built in 1973
$-- HOA
0.78 acre lot
$151/sq.ft
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 c...
- Houzeo last checked: 40 Minutes ago
- Listing updated: April 3, 2026 at 12:42 am
- Listing Provided by: Zach Britt (615) 971-1553 | Britt Commercial Real Estate, LLC (615) 971-1553
- Source: Canopy MLS | MLS#: 4365281
Property Details
Status
Active
Type
Multi Family
No. of Stories
2
County
City
Neighborhood
--
Year Built
1973
HOA Fees
-
Finished Area
9,947 sqft
Lot Size
0.78 acre lot
Basement Area
- sqft
MLS Name
Canopy MLS
MLS Number
4365281
MLS Status
Active
Days on Market
65
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