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-- Baths0.0 Sq 7,276

Monthly Estimate*

$ 10,360

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Multi-Family Home for sale in Newton, NC

for $1,500,000. This 7,276 square foot home 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 commercial MLS# 4430429

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Multi-Family Active

Price

$ 1,500,000

Property Type

Multi-Family

Taxes

$ 0

Style

Lot Size

1.33

Year Built

1975

Town/City

Newton

County/Region

Catawba

MLS | Web ID

4430547

Features
General
Living Area 7276
Sewer Public Sewer
Heating Natural Gas
Cooling Central Air
Utilities Electricity Connected Natural Gas
Roof Architectural Shingle
Appliances Gas Range Refrigerator
Development Status Completed
Garage Spaces 0
Construction Materials Brick Full
Pets Allowed No
Year Built 1975
Stories Count 2
Property Subtype Apartment
Parcel Number 3730208280420000
County Catawba
New Construction N
Property Type Residential Income
HOA N
Garage Y/N N
High School Newton Conover
City Newton
Senior Community Y/N N
Number Of Units Total 11
Lot Size Units Acres
Carport Y/N N
Elementary School South Newton
Middle/Junior High School Newton Conover
Additional Parcels 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
Lot Size Area 1.33
Foundation Details Slab
Building Area Total 7276
Road Surface Type Asphalt Paved
Road Responsibility Publicly Maintained Road
Main Level Garage YN N
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Interior
Basement (Y/N) N
Above Grade Finished Area 7276
Laundry Features None
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
293893 Elementary School
293897 Middle School
Newton Conover 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 Multi-Family Home for sale at $1,500,000 with 7,276 sqft and a lot size of 1.33. 402 S Ashe Avenue has 0.0 baths and was built in 1975. The property's zip code is 28658 which is in Newton, NC