1075 7th Ave NW

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1075 7th Ave NW

Hickory, NC 28601
Asking Price
$950K
Asset Type
Multifamily
Class
Class B

What's Special

1075 7th Ave NW is a multifamily property situated in the Highland neighborhood of Hickory, North Carolina. The location is approximately one mile north of the city’s central business district, offering proximity to local government offices, dining, and retail centers. The immediate area is primarily residential, characterized by mature trees and established housing. Residents have efficient access to major regional thoroughfares, including U.S. Route 321 and Interstate 40, facilitating commutes to nearby employment hubs and the Frye Regional Medical Center. The property is suited for long-term residential rental use, catering to Hickory’s workforce and healthcare professionals. Its layout is appropriate for tenants seeking a central location with direct access to urban services and public parks. The asset typically serves a demographic profile consisting of individuals or small households employed within the Catawba County area. As a multifamily investment, the site functions well as a value-add opportunity or a stable income-producing holding within a growing secondary market.

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NOI
$80,000
Cap Rate
8.42%
DSCR
1.42
Strong
Cash-on-Cash
8.28%
Monthly Payment
$4,700.082
Annual Cash Flow
$23,599.02

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