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 located in the Northwestern segment of Hickory, North Carolina, situated within a established residential neighborhood characterized by mid-century architecture and mature landscaping. The property offers proximity to the central business district and is less than one mile from the Lenoir-Rhyne University campus. Local amenities include several grocers, public parks, and dining options along the nearby Highway 127 corridor. Transportation access is facilitated by immediate connectivity to 2nd Street NW and 12th Street NW, providing efficient routes to Interstate 40 and the greater Unifour region. This multifamily asset is positioned for consistent residential occupancy, serving as a primary housing option for the local workforce and academic community. The location is suited for a diverse tenant profile, including healthcare professionals employed at nearby regional medical centers and administrative staff from downtown offices. Given the proximity to the university, the site also supports demand from faculty and graduate students seeking off-campus housing. The surrounding neighborhood stability and established infrastructure make the property appropriate for a long-term hold strategy focused on steady rental demand within the Hickory 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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