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402 S Ashe Avenue, 
Newton, NC 28658

$1,500,000

—

Bed

—

Bath

7,276

Sq Ft

Multi-Family

Active

Listed by

Jairo Betancourt-Uribe

, 

Leslie Betancourt

Ru4 Real Estate, Inc.

Last updated:

October 15, 2026, 02:03 PM

MLS#

4430547

Source:

CH

About This Home

402 S Ashe Avenue

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

Home Facts

Multi-Family

Built in 1975

Price Summary

1,500,000

$206 per Sq. Ft.

MLS #:

4430547

Last Updated:

October 15, 2026, 02:03 PM

Rooms & Interior

Interior

Living Area:

7,276 Sq. Ft.

Structure

Structure

Building Area:

7,276 Sq. Ft.

Year Built:

1975

Lot

Lot Size (Sq. Ft):

57,934

Finances & Disclosures

Finances

Price:

$1,500,000

Price per Sq. Ft:

$206 per Sq. Ft.

MLS Logo
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Contact an Agent

Yes, I would like more information. Please use and/or share my information with a Coldwell Banker ® affiliated agent to contact me about my real estate needs. By clicking Contact, I request to be contacted by phone or text message and consent to being contacted by automated means. I understand that my consent to receive calls or texts is not a condition of purchasing any property, goods, or services. Alternatively, I understand that I can access real estate services by email or I can contact the agent myself.

If a Coldwell Banker affiliated agent is not available in the area where I need assistance, I agree to be contacted by a real estate agent affiliated with another brand owned or licensed by Anywhere Real Estate (BHGRE®, CENTURY 21®, Corcoran®, ERA®, or Sotheby's International Realty®). I acknowledge that I have read and agree to the terms of use and privacy notice.