1422 Nottingham Road, Kannapolis, NC 28081
sale
$3,525,000
|
Other
Courtesy Of Andrew Reed Properties, LLC
The Townhomes at Cannon Mills located at 1422 Nottingham Dr., Kannapolis, NC, is a renovated 24-unit townhome community on +/-2.22 acres, comprised of two-story 2BR/1.5BA units with back porches in a quiet residential neighborhood. The property offers durable in-place cash flow with a clear path to additional revenue through continued rent optimization toward prevailing submarket levels, including the opportunity to further modernize remaining interiors with upgraded finishes to support premium rent positioning. A recent +/-$500,000 capital improvement program materially reduces near-term CapEx and supports long-term performance, including an exterior overhaul (painted brick, metal awnings, shutters, upgraded lighting, gutters), new concrete patios and railings, new windows, upgraded electrical panels, utility optimization, a new asphalt parking lot with wheel bumpers, and targeted HVAC replacements. These improvements enhance curb appeal, operating efficiency, and durability. Kannapolis has emerged as a growth market anchored by the 350-acre North Carolina Research Campus, along with expanding healthcare and advanced manufacturing. The asset is located approximately 2.5 miles from Downtown Kannapolis, less than 5 miles from Atrium Health Cabarrus, and offers convenient access to I-85. It is approximately 25 miles to Uptown Charlotte, providing strong regional demand drivers with a favorable cost-of-living profile. For investors, Townhomes at Cannon Mills combines suburban stability with Charlotte-metro connectivity. It is an upgraded, well-located, income-producing asset positioned for continued performance in a market benefiting from sustained population and income growth. Do not disturb residents.
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Property Features
- Age: Over 50 Years Old
- Amenities: Porch
- Building Units: 24
- Cooling System: Electric
- Cooling System: Central Air
- Exterior Type: Brick Full
- Floor Covering: Vinyl
- Heating System: Electric (Heating)
- Legal Description: LTS 48-51 & P/O 47 SHERWOOD FOREST & LT 52 & P/O 53 SHERWOOD FOREST
- MLSID: 4341255
- Parking Spaces: 48
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