402 S Ashe Avenue Newton, NC $ 1,500,000
402 S Ashe Avenue
$ 1,500,000
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402 S Ashe Avenue

Newton, NC, 28658
$ 1,500,000
Bedrooms-- Baths--

Monthly Estimate*

$ 10,360

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Commercial Property for sale in Newton, NC

for $1,500,000. This building was built in 1975 on a lot size of 1.33.

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, three 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.

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Commercial Active

Price

$ 1,500,000

Property Type

Commercial

Taxes

$ 0

Style

N/A

Lot Size

1.33

Year Built

1975

Town/City

Newton

County/Region

Catawba

MLS | Web ID

4430429

Features
General
Sewer Public Sewer
Heating Natural Gas
Cooling Central Air
Utilities Electricity Connected Natural Gas
Roof Architectural Shingle
Development Status Completed
Construction Materials Brick Full
Year Built 1975
Stories Count 2
Property Subtype N/A
Parcel Number 3730208280420000
County Catawba
New Construction N
Property Type Commercial Sale
HOA N
Possible Use Multi-Family Residential
City Newton
Senior Community Y/N N
Number Of Units Total 11
Lot Size Units Acres
Carport Y/N N
Number of Units Leased 11
Additional Parcels Y/N N
Lease Considered Y/N N
Standard Status Active
Construction Type Site Built
Restrictions No Restrictions
Tax Assessed Value 938200
Listing Terms Cash Conventional Exchange
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Exterior
Parking Features Assigned Parking Lot Parking Space(s)
Water Source City
Inclusions Building Land
Lot Size Area 1.33
Foundation Details Slab
Number of Buildings 2
Road Surface Type Paved
Road Responsibility Publicly Maintained Road
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Interior
Basement (Y/N) N
Below Grade Finished Area 0
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Internal Only
Street Number 1 402
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* Excluded Features
List By
Ru4 Real Estate, Inc.

Broker

Affordability Calculator

$10,360
Per Month
100%
0%
0%
Monthly Principal & Interest
$10,360
Monthly Property Taxes
--
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 7.375% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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Nearby
294628 Elementary School
294724 Middle School
Unknown High School High School
Pricing History
DatePricePrice ChangeDescription
10/1/2026$1,500,000 Listed Price

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402 S Ashe Avenue, Newton, NC, 28658 is a Commercial Property for sale at $1,500,000 with a lot size of 1.33. 402 S Ashe Avenue was built in 1975. The property's zip code is 28658 which is in Newton, NC