New Listing
$1,500,000
 $8,052 est/mo Sourced by Back At You

402 S Ashe Avenue,Newton, NC 28658

Newton, NC 28658

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Description

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, seven 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

Details

MLS #4430547
Listing TypeFor Sale
Sub-TypeResale
StatusActive
Year1975
Days On Site2
Listing Provided ByRU4 Real Estate, Inc. | Jairo Betancourt-Uribe

Features

SQ Feet7,276
Story(s)2
Units11
Acreage1.33

Interior

CoolingCentral Air
HeatingNatural Gas
AppliancesGas Range, Refrigerator

Exterior

RoofArchitectural Shingle
Construction MaterialsBrick Full
Foundation DetailsSlab

Parking

Garage Yes / NoNo
Parking FeaturesAssigned, Parking Lot, Parking Space(s)

Utilities

UtilitiesElectricity Connected, Natural Gas

Other

List AorCatawba Valley Association of Realtors

Taxes

Property938200

Area Information

StateNC
CountyCatawba
CityNewton
Zip Code28658
AreaCatawba
School DistrictNewton Conover
Elementary SchoolSouth Newton
High SchoolNewton Conover
Listing VS Median (in 28658)
Price:
$1,500,000
low | high
Med:
$320,980
100% of Average
sqft:
7,276
low | high
Med:
2,100
100% of Average
$ / sqft:
$206
low | high
Med:
$153
75.858714920635% of Average
On site:
2
low | high
Med:
151
2% of Average
Sourced by Back At You

Market Activity 28658

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 Listings courtesy of Canopy MLS as distributed by MLS GRID.

Based on information submitted to the MLS GRID as of October 3, 2026 at 2:39:05 AM PDT All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.

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Learn More About This Property

StateNC
CountyCatawba
CityNewton
Zip Code28658
AreaCatawba
School DistrictNewton Conover
Elementary SchoolSouth Newton
High SchoolNewton Conover
Listing VS Median (in 28658)
Price:
$1,500,000
low | high
Med:
$320,980
100% of Average
sqft:
7,276
low | high
Med:
2,100
100% of Average
$ / sqft:
$206
low | high
Med:
$153
75.858714920635% of Average
On site:
2
low | high
Med:
151
2% of Average
Sourced by Back At You
Listing Updated: October 1, 2026 at 3:24:01 PM PDT