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118 Ethel Drive, Stanley, NC 28164

Stanley
Local realty services provided by:CENTURY 21 Rucker Real Estate
Listed by: zach britt
Office: britt commercial real estate, llc.
MLS#:4365281
Source:CH
118 Ethel Drive,Stanley, NC 28164
$1,500,000
  • 24 Beds
  • 24 Baths
  • 9,947 sq. ft.
  • Multi-family
  • Active

Price summary

  • Price:$1,500,000
  • Price per sq. ft.:$150.8

About this home

This opportunity represents a well-maintained and fully occupied, 12-unit townhome community in Stanley, NC, offering immediate in-place cash flow with upside at an attractive basis of $125,000/unit. 118-120 Ethel Dr consists of twelve 2BR/1.5BA units (~780 SF), with meaningful capital improvements already completed, including a new roof, siding, numerous HVAC replacements, and interior renovations to 10 units between 2020–2024. Current rents average $973 providing ~$177/unit in upside to $1,150 for MTM agreements and as leases turn through 2026–2027, along with additional NOI growth through remaining renovations and the potential to own the washers and dryers in the common laundry. Located just 18 miles northwest of Uptown Charlotte with easy access to I-485 and I-85, Stanley continues to benefit from strong renter demand driven by its affordability and proximity to major employment hubs.

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Home facts

  • Year built:1973
  • Listing ID #:4365281
  • Updated:April 05, 2026 at 01:21 PM

Rooms and interior

  • Bedrooms:24
  • Total bathrooms:24
  • Full bathrooms:12
  • Half bathrooms:12
  • Kitchen Description:Electric Range, Refrigerator
  • Living area:9,947 sq. ft.

Heating and cooling

  • Cooling:Central Air
  • Central air:Yes

Structure and exterior

  • Year built:1973
  • Building area:9,947 sq. ft.
  • Lot area:0.78 Acres
  • Construction Materials:Vinyl
  • Foundation Description:Crawl Space

Schools

  • High school:East Gaston
  • Elementary school:Springfield

Utilities

  • Sewer:Public Sewer

Finances and disclosures

  • Price:$1,500,000
  • Price per sq. ft.:$150.8

Features and amenities

  • Laundry features:Common Area
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