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402 S Ashe Avenue, Newton, NC 28658

Newton
Local realty services provided by:CENTURY 21 First Choice Realty
Listed by: jairo betancourt-uribe, leslie betancourt
Office: ru4 real estate, inc.
MLS#:4430547
Source:CH
402 S Ashe Avenue,Newton, NC 28658
$1,500,000
  • - Beds
  • - Baths
  • 7,276 sq. ft.
  • Multi-family
  • Active

Price summary

  • Price:$1,500,000
  • Price per sq. ft.:$206.16

About this home

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...

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Home facts

  • Year built:1975
  • Listing ID #:4430547
  • Updated:October 06, 2026 at 01:29 PM

Rooms and interior

  • Kitchen Description:Gas Range, Refrigerator
  • Living area:7,276 sq. ft.

Heating and cooling

  • Heating:Natural Gas
  • Central air:Yes

Structure and exterior

  • Year built:1975
  • Building area:7,276 sq. ft.
  • Lot area:1.33 Acres
  • Foundation Description:Slab

Schools

  • High school:Newton Conover
  • Elementary school:South Newton

Utilities

  • Sewer:Public Sewer

Finances and disclosures

  • Price:$1,500,000
  • Price per sq. ft.:$206.16

Parking

  • Parking description:Assigned, Parking Lot
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