402 S Ashe Avenue, Newton, North Carolina 28658

  • $1,500,000

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, 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

  • Address: 402 S Ashe Avenue, Newton, North Carolina 28658
  • City: Newton
  • State/county: NC
  • Zip/Postal Code: 28658

Details

Updated on October 5, 2026 at 5:11 pm
  • Property ID 4430547
  • Price $1,500,000
  • Property Size 7276 m²
  • Year Built 1975
  • Property Type Apartment, Residential Income
  • Property Status Active, For Sale

Additional details

  • Listing Terms Cash, Conventional, Exchange
  • Roof Architectural Shingle
  • Utilities Electricity Connected, Natural Gas
  • Sewer Public Sewer
  • Cooling Central Air
  • Heating Natural Gas
  • County Catawba
  • Property Type Residential Income
  • Parking Assigned, Parking Lot, Parking Space(s)
  • Elementary School South Newton
  • Middle School Newton Conover
  • High School Newton Conover

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Contact Information

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The Simpson Group Realty
  • The Simpson Group Realty

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