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Sold for $850,000 on 08/06/25
  • $850,000

    305 Salem St, Thomasville, NC 27360

    --beds
    --baths
    --sqft
    Apartment, Multi Family
    Built in 1971
    -- sqft lot
    $853,200 Zestimate®
    $--/sqft
    $-- Estimated rent

    Owner options

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    $4,859/mo

    Est. payment

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    $4,859/mo

    Est. payment

    What's special

    Rare 9-unit in downtown Thomasville! Eight spacious 2 BR/1 BA apartments plus one 3 BR/1 BA and a detached storage building on a corner lot. Eight units boast fresh paint, durable LVP, updated baths, and shaker-cab kitchens—only Unit B left for easy value-add. Stroll 0.3 mi to the brand-new Thomasville Aquatics & Community Center with pool, fitness, and events—an instant resident magnet. Area 2 BR market rents average ~$900/mo; at stabilization, potential gross is ±$97K/yr, projecting an 8 %+ cap at the $900K ask. Separate electric meters, city utilities, and low-maintenance brick keep expenses in check. Proven occupancy delivers steady cash flow from day one, with upside in Unit B and the storage building. DO NOT DISTURB TENANTS. Agents—see Agent-Only Remarks for showings and financials.

    Zillow last checked: 7 hours ago

    Listing updated: August 06, 2025 at 01:21pm

    Listed by:

    Landon Stone 336-515-6902,

    Real Broker LLC

    Bought with:

    Tiffany Johnson, 359516

    Joshua Mitchell Real Estate

    Source: Triad MLS,MLS#: 1185605MLS LogoOriginating MLS: Greensboro

    Facts & features

    Interior

    Heating
    • Heat Pump, Electric
    Cooling
    • Central Air
    Appliances
    • Included: Electric Water Heater
    • Laundry: Washer/Dryer Connection
    Features
    • Storage
    • Flooring: Carpet, Tile, Vinyl
    • Has basement: No
    • Has fireplace: No
    Interior area
    • Total structure area: 8,804

    Property

    Parking
    • Parking features: Assigned, Paved, No Garage
    Features
    • Pool features: None
    Lot
    • Size: 0.94 Acres
    Details
    • Parcel number: 16081000C0008000
    • Zoning: R8
    • Special conditions: Owner Sale

    Construction

    Type & style
    • Home type: MultiFamily
    • Property subtype: Apartment, Multi Family
    Materials
    • Brick, Vinyl Siding
    Condition
    • Year built: 1971

    Utilities & green energy

    • Sewer: Public Sewer
    • Water: Public

    Community & neighborhood

    Location
    • Region: Thomasville

    Other

    Other facts
    • Listing agreement: Exclusive Right To Sell
    • Listing terms: Cash,Conventional