118 Ethel Drive, Stanley, NC 28164 (MLS # 4365281)

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PRICE $1,500,000 dsIDX morgage calculator
BEDS 24
BATHS 18
HOME SIZE 9,947 sqft
LOT SIZE 33,977 sqft
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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.

YEAR BUILT 1973 COUNTY Gaston
STATUS Active PROPERTY TYPE(S) Multi Family

SCHOOLS
Elementary School Springfield
Jr. High School Stanley
High School East Gaston


ADDITIONAL DETAILS
AIR Central Air
AIR CONDITIONING Yes
APPLIANCES Electric Range, Refrigerator
BASEMENT Crawl Space
HEAT Central
LOT 0.78 acre(s)
LOT DIMENSIONS 0.78
MLS STATUS Active
SEWER Public Sewer
STORIES 2
MORTGAGE CALCULATOR
   

TOTAL MONTHLY PAYMENT

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Listed with Britt Commercial Real Estate, LLC
Date last updated: 4/3/26 4:08 AM PDT

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