$1,500,000
Est. Payment: $7,710/mo
Adjust down payment, rate & terms
118 Ethel Dr, Stanley, NC 28164
Stanley, NC 28164
24
bedrooms
0
baths
9,947
sq.ft.
$151
price per sf
Presented By
Carnarri Cofield
REALTOR®
About This Property
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.
About the Neighborhood
Homes for sale in 28164 offer buyers a genuinely distinctive Lincoln County lifestyle in Stanley, a small community situated along the South Fork Catawba River approximately 25 miles west of Charlotte via NC-27, defined by its riverfront character, historic Craftsman and ranch home inventory, and the kind of established small-town authenticity increasingly rare within the broader metro commute range. The residential landscape features mid-century brick ranch homes, period Craftsman bungalows, and newer construction on generous lots reflecting the community's measured pace of growth along the South Fork corridor. The South Fork River Trails, a celebrated multi-use greenway system connecting communities along the Catawba watershed. provide kayaking, fishing, and trail access directly tied to Stanley's riverfront positioning. The growing Belmont and Mount Holly commercial corridors are within 15 minutes, delivering expanding dining and retail options, and major employers along the I-85 Gaston County industrial corridor are within easy reach. The 28164 real estate market delivers competitive Lincoln County price points with riverfront access and a manageable NC-27 commute placing Uptown Charlotte approximately 30–35 minutes away.
Property Features
Property Description
- Beds Total: 24
- Half Baths: 12
- Stories: 2
- Year Built: 1973
- Living Area: 9,947 sqft
- New Construction: No
- MLS #: 4365281
Association
- HOA Required: No
Interior Features
- Heating: Central
- Cooling: Central Air
- Common Area
Appliances
- Electric Range
- Refrigerator
Construction Materials
- Brick Partial
- Vinyl
- Foundation: Crawl Space
Cooling
- Central Air
Foundation Details
- Crawl Space
Heating
- Central
Laundry Features
- Common Area
Parking Features
- Parking Space(s)
Pets Allowed
- Conditional
Road
- Road Responsibility: Publicly Maintained Road
- Road Surface Type: Asphalt, Paved
Sewer
- Public Sewer
WaterSource
- City
Location
LISTING COURTESY OF: BRITT COMMERCIAL REAL ESTATE, LLC
zbritt@brittcre.com
$1,500,000
Est. Payment: $7,710/mo
Adjust down payment, rate & terms
Stanley, NC 28164
24
bedrooms
0
baths
9,947
sq.ft.
$151
price per sf
Presented By
Carnarri Cofield
REALTOR®
Listings courtesy of Canopy MLS as distributed by MLS GRID
No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Citadel Cofield, its subsidiaries, affiliates and their agents and associated third parties expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.
Listing Courtesy of Britt Commercial Real Estate, LLC
Properties displayed may be listed or sold by various participants in the MLS. Based on information submitted to the MLS GRID. 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.
$1,500,000
118 Ethel Drive
24 bed, 0 bath