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 multi-family residential MLS# 4430547.
- Heating System:
- Natural Gas
- Cooling System:
- Central Air
- Parking:
- Assigned, Parking Lot, Parking Space(s)
- Sewer:
- Public Sewer
- Utilities:
- Electricity Connected, Natural Gas
- Country:
- US
- State:
- NC
- County:
- Catawba
- City:
- Newton
- Zipcode:
- 28658
- Street:
- Ashe
- Street Number:
- 402
- Street Suffix:
- Avenue
- Longitude:
- W82° 46' 26.3''
- Latitude:
- N35° 39' 30.8''
- Street Dir Prefix:
- S
- Office Name:
- RU4 Real Estate, Inc.
- Agent Name:
- Jairo Betancourt-Uribe
- TaxAnnualAmount:
- $0
- TaxAssessedValue:
- $0
- AssociationFee:
- $0
- Construction Materials:
- Brick Full
- Foundation Details:
- Slab
- Number Of Units Total:
- 11
- Possible Use:
- Multi-Family,Residential
- Stories:
- 2
- Water Source:
- City
- Co List Agent Full Name:
- Leslie Betancourt
- Co List Agent Mls Id:
- R57908
- Co List Office Mls Id:
- 13708
- Co List Office Name:
- RU4 Real Estate, Inc.
- List Agent Mls Id:
- cv71723
- List Office Mls Id:
- 13708
- Listing Term:
- Cash,Conventional,Exchange
- Mls Status:
- Active
- Modification Timestamp:
- 2026-10-05T17:11:50Z
- Originating System Name:
- Canopy
- Special Listing Conditions:
- None
- Status Change Timestamp:
- 2026-10-01T18:48:42Z
Commercial Sale For Sale
402 S Ashe Avenue, Newton, North Carolina 28658
- Property Type :
- Commercial Sale
- Listing Type :
- For Sale
- Listing ID :
- 4430429
- Price :
- $1,500,000
- Year Built :
- 1975
- Status :
- Active
- Property Sub Type :
- N/A
- Roof:
- Architectural Shingle
