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Terri Bias

Operator/Brokerage Owner | Terri Bias and Associates | PLACE

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402 S Ashe Ave , Newton, NC 28658
$1,500,000
Est. Payment: $8,430.05/mo
7276 Sqft
1.33 Acres
Status: active | Days on site: 4
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13708 - cv71723,R57908
By proceeding and clicking the sign up button, you consent to receive calls and texts (SMS/MMS) including marketing and promotional communications, from Terri Bias, its affiliates, and agents or vendors acting on their behalf. These communications may be delivered using an automatic telephone dialing system or by using an artificial or prerecorded voice. Message and data rates may apply. To opt out of text messages, reply STOP. Your consent is not required as a condition of any purchase. By continuing, you also agree to our Terms of Use and Privacy Policy.
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Terri Bias
Operator/Brokerage Owner
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House 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
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Highlights

Listed by Jairo Betancourt-Uribe , 828-449-6941 and Leslie Betancourt , 828-449-6941 RU4 Real Estate, Inc. , 828-449-6941. Canopy MLS mls logo

Property Type

Multi-Family
Lot/Acreage
1.33

Year Built

1975

County

Catawba

Listing ID

4430547

Questions about this listing?

Contact Agent

Interior Features

Appliances:Gas Range, Refrigerator
Air Cond:Central Air
Fireplaces:
Above Ground Sq Ft:7276
Water:City

Exterior Features

Roof:Architectural Shingle
Sewer:Public Sewer
Parking Features:Assigned,Parking Lot,Parking Space(s)
Principal Interest
$8,430
Taxes
$956

Home Price

$1,500,000

Loan Details

30 yrs
7.548%

Down Payment

20%
$300,000
All calculations are estimates and provided by Blueroof360. Today’s Rates provided by Blueroof360. Information and interactive calculators are made available to you only as self-help tools for your independent use and are not intended to provide investment or tax advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.
Monthly Price:
$8,430.05

Principal

Taxes

Principal Taxes HOA Total
Monthly $8,430.05 $956.25 $0.00 $9,386.30
Yearly $101,160.61 $11,475.00 $0.00 $112,635.61
Total $3,034,818.37 $344,250.00 $0.00 $3,379,068.37

Today's Rates

30 Year

7.55%

20 Year

7.5%

15 Year

6.75%

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Market insight data is pulled from the same city as the listing being viewed (Newton, NC).

The schools listed are within a 2-mile radius of the property; however, attendance is not guaranteed. Please contact the local school district to confirm zoning and enrollment options.

Based on information submitted to the MLS GRID as of the date listed below. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
The data relating to real estate on this website derive in part from the Internet Data Exchange program. Brokers make an effort to deliver accurate information, but buyers should independently verify any information on which they will rely in a transaction. All properties are subject to prior sale, change or withdrawal. Neither Terri Bias and Associates | PLACE nor any listing broker shall be responsible for any typographical errors, misinformation, or misprints, and they shall be held totally harmless from any damages arising from reliance upon this data. This data is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties they may be interested in purchasing.
Listings courtesy of Canopy MLS as distributed by MLS GRID

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Data last updated: 2026-10-14T15:52:06.000Z

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