208 S 3rd Street, Albemarle, NC 28001
Local realty services provided by:CENTURY 21 Rucker Real Estate
Listed by: daniel fisher, rebecca fisher
Office: fisher herman realty llc.
MLS#:4358248
Source:CH
208 S 3rd Street,Albemarle, NC 28001
$387,500
- 8 Beds
- 4 Baths
- - sq. ft.
- Multi-family
- Sold
Sorry, we are unable to map this address
Price summary
- Price:$387,500
About this home
Stabilized, high-margin 3,600sf multifamily asset in the heart of Albemarle’s Revitalized Core offers a rare combination of immediate cash flow and a zero-drag operational model. Property has no common areas, effectively eliminating the unbillable utility costs, cleaning requirements, and management friction typical of corridor-style buildings. The configuration features four 900 SF 2BR/1BA units, each with its own covered front porch, independent exterior entry and a similar layout.
Every unit is separately metered for electric and water and offers a functional two-level layout with full kitchens, dining and living areas on the main floor, bedrooms and updated bath elements upstairs. Flooring is typically durable LVP or laminate with carpet on the stairs. Modern energy-efficient HVAC systems and ceiling fans keep tenant utility costs low; wood-burning fireplaces are currently sealed closed. The vinyl exterior, street parking, and minimal landscaping keep landlord maintenance negligible. Unfinished basement provides emergency egress and contains storm water control infrastructure, possible storage income, STR bike parking.
Significant value-add potential exists through light cosmetic improvements and the flexible Central Business District zoning, which allows easy, by-right conversion to high-yield Short-Term Rental (STR) or Mid-Term Rental (MTR) use. The independent direct-entry layouts are perfect for contactless check-in, appealing to both occasional and corporate guests. Market data for the downtown core supports a projected STR ADR of $180–$215, offering a pathway to significantly outpace traditional long-term rents. The property is well-positioned to capture stable demand from traveling medical professionals and staff at Atrium Health Stanly, Pfeiffer University Health Sciences campus visitors, Albemarle Business Center employees, brewery tourists, and outdoor adventurers heading to Uwharrie National Forest. Guests are steps from the vibrant walkable downtown, including local shops, cafes, Brewing Company, wineries, street festivals, and art walks.
Investment Highlights:
• Zoning: CBD (Central Business District) – maximum use flexibility
• Layout: Four units with individual exterior entries and no common area/operational drag.
• Infrastructure: individually metered electric and water
• Location: 100% walkable to downtown amenities & Uwharrie Brewing. In AE flood zone. Pfeiffer University, Atrium Health Stanly and the Albemarle Business Center provides a base of short, medium and long term renters
• Low Overhead: No landlord utility expense and minimized maintenance scope.
Unit 208 ($950/mo rent) is currently being held vacant and is available for immediate showings. Remaining occupied units are in similar condition and available for interior inspection after accepted contract execution. This property is the cleanest, most versatile management model in the current market — perfect for the self-managed investor. Strong rental history, light cosmetic upside, and multiple income strategies (LTR, STR, or hybrid) provide both stability and significant yield potential. Come see it today....
Contact an agent
Home facts
- Year built:1918
- Listing ID #:4358248
- Updated:July 21, 2026 at 10:58 AM
Rooms and interior
- Bedrooms:8
- Total bathrooms:4
- Full bathrooms:4
- Flooring:Carpet, Laminate
- Kitchen Description:Electric Range, Refrigerator
- Basement:Yes
Heating and cooling
- Cooling:Central Air
- Central air:Yes
Structure and exterior
- Roof:Composition
- Year built:1918
- Lot Features:Corner Lot, Flood Plain/Bottom Land, Level
- Architectural Style:Traditional
- Construction Materials:Vinyl
- Foundation Description:Basement
Schools
- High school:Albemarle
- Elementary school:East Albemarle
Utilities
- Sewer:Public Sewer
Finances and disclosures
- Price:$387,500
Features and amenities
- Amenities:Attic Other
Parking
- Parking description:On Street
New listings near 208 S 3rd Street
- New
$215,000Active3 beds 1 baths1,152 sq. ft.1034 Patton Avenue, Albemarle, NC 28001
MLS# 4406057Listed by: RED DOOR REALTY & ASSOCIATES - New
$325,000Active3 beds 2 baths1,471 sq. ft.806 New Castle Court, Albemarle, NC 28001
MLS# 4405714Listed by: MARK SPAIN REAL ESTATE - New
$264,900Active3 beds 2 baths1,562 sq. ft.3209 Greenwood Park Circle, Albemarle, NC 28001
MLS# 4406124Listed by: FOUR SEASONS REALTY ALBEMARLE - New
$229,900Active3 beds 2 baths1,072 sq. ft.1341 E Cannon Avenue, Albemarle, NC 28001
MLS# 4405005Listed by: EXP REALTY LLC BALLANTYNE - New
$229,000Active2 beds 1 baths1,119 sq. ft.705 Parker Street, Albemarle, NC 28001
MLS# 4405548Listed by: EXP REALTY LLC - New
$189,900Active2 beds 1 baths1,112 sq. ft.803 Long Street, Albemarle, NC 28001
MLS# 4403245Listed by: LIVE AND GIVE REALTY GROUP - New
$295,000Active3 beds 2 baths1,353 sq. ft.641 Knollwood Circle, Albemarle, NC 28001
MLS# 4405399Listed by: EXP REALTY LLC BALLANTYNE - Coming Soon
$849,000Coming Soon3 beds 4 baths36079 Ridge Street, Albemarle, NC 28001
MLS# 4404880Listed by: SHELTON REAL ESTATE CENTER LLC - New
$131,000Active2 beds 1 baths951 sq. ft.1607 W Main Street, Albemarle, NC 28001
MLS# 4405353Listed by: CENTRAL PIEDMONT PROPERTIES - New
$335,000Active3 beds 3 baths1,543 sq. ft.1028 Speight Road, Albemarle, NC 28001
MLS# 4405298Listed by: HOMETOWN REALTY PROS LLC