402 S Ashe Avenue, Newton, NC
$1,500,000 · 7,276 sq ft · built 1975
Listing courtesy of RU4 Real Estate, Inc. (Jairo Betancourt-Uribe). Listing data provided by Canopy MLS, deemed reliable but not guaranteed.
About the home
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
Price in context
- Asking $206 per square foot.
- That is 21% below the $262 median across 7 active $1.5M+ homes in Newton.
- 2nd highest asking price of 7 active $1.5M+ homes in Newton.
- 2nd largest by living area of the 6 with a recorded size.
- No price changes since it was listed.
- 4 days on the market, listed 2026-10-01.
- County tax assessment $938,200; the asking price is 1.60× the assessed value.
Location
Straight-line distances
- Charlotte Douglas International Airport: 34.6 mi
- Wilson Air Center (private aviation, CLT): 35.3 mi
- Uptown Charlotte: 36.8 mi
- Charlotte Country Club: 39.1 mi
- SouthPark Mall: 41.4 mi
- Quail Hollow Club: 43.6 mi
Assigned schools
- Elementary: South Newton
- Middle: Newton Conover
- High: Newton Conover
School assignments come from the listing and can change; confirm with the district.
Features
- Construction
- Brick Full
- Roof
- Architectural Shingle
- Kitchen & appliances
- Gas Range, Refrigerator
- Heating
- Natural Gas
- Cooling
- Central Air
- Parking
- Assigned, Parking Lot, Parking Space(s)
- County
- Catawba
Comparable homes on the market
- 53 E 13th Street, Newton — $1,000,000, 10 bd, 5,350 sq ft, 1.2 mi away
- 1670 Southwest Boulevard, Newton — $1,800,000, 5 bd, 8,705 sq ft, 1.3 mi away
- 1164 Harper Lee Drive, Newton — $1,225,000, 4 bd, 3,584 sq ft, 2.3 mi away
- 3336 Startown Road, Newton — $1,499,999, 4 bd, 2,231 sq ft, 2.4 mi away
- 3336 Startown Road, Newton — $1,499,999, 2.4 mi away
- 406 Rock Barn Road Ne, Conover — $1,100,000, 3.4 mi away
See it privately
Nicholas and Miriam Peters show every home personally. Peters & Associates, 4401 Barclay Downs Dr #132, Charlotte, NC 28209. Office 704-264-4572. Request a private showing.