380 9th Ave Dr NE

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380 9th Ave Dr NE

Hickory, NC 28601
Asking Price
Contact for price
Asset Type
Multifamily
Class
Class B

What's Special

Situated at 380 9th Ave Dr NE, this multifamily property is located in a residential pocket of northeast Hickory, North Carolina. The neighborhood character is established and suburban, characterized by a mix of single-family homes and small apartment complexes. Residents have convenient access to local amenities along Highway 70 and 2nd St NE, including grocery stores, pharmacies, and casual dining options. The site is positioned near Lenoir-Rhyne University and provides efficient transportation access to I-40 and Highway 321, connecting the property to the broader Catawba County area. The location is well-suited for a long-term rental strategy targeting a consistent workforce tenant base. Typical residents likely include healthcare professionals working at nearby medical centers, university faculty or staff, and commuters employed in Hickory’s manufacturing and furniture sectors. Given the proximity to schools and parks, the asset also appeals to small families or individuals seeking a residential atmosphere with proximity to central business districts. The property serves as a functional housing option within a stable, mid-market rental environment.

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NOI
$80,000
Cap Rate
8.00%
DSCR
1.35
Strong
Cash-on-Cash
6.88%
Monthly Payment
$4,947.454
Annual Cash Flow
$20,630.547

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