118 Ethel Drive, Stanley NC
- 24 Bed
- 0.8 ac
For Sale $1,500,000
Remarks:
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.
General Information:
| List Price: | $1,500,000 |
| Status: | For Sale |
| Bedrooms: | 24 |
| Type: | Apartment |
| Parking: | Parking Space(s) |
| MLS Number: | CAR4365281 |
| Year Built: | 1973 |
| Sewer Type: | Public Sewer |
Assigned Schools:
| Elementary: | Springfield |
| Middle: | Stanley |
| High: | East Gaston |
Price & Sales History
| Date | Event | Price | $/SQFT |
| 04-28-2026 | Listed | $1,500,000 | N/A |
| 08-13-2025 | Price Decrease | $725,000-2.68% | N/A |
| 05-22-2025 | Listed | $745,000 | N/A |
Nearby Schools
These schools are only nearby your property search, you must confirm exact assigned schools.
| School Name | Distance | Grades | Rating |
| Lowell Elementary School | 5 miles | KG-05 | 6 |
| Brookside Elementary School | 5 miles | PK-05 | 6 |
| Carr Elementary School | 6 miles | PK-05 | 3 |
| Ida Rankin Elementary School | 6 miles | PK-05 | 6 |
| Pinewood Elementary School | 6 miles | PK-05 | 5 |
| North Belmont Elementary School | 6 miles | PK-05 | 4 |
Source is provided by local and state governments and municipalities and is subject to change without notice, and is not guaranteed to be up to date or accurate.
Properties For Sale Nearby
Mileage is an estimation calculated from the property results address of your search. Driving time will vary from location to location.
| Street Address | Distance | Status | List Price | Days on Market |
| 118 Ethel Drive, Stanley NC | 0 mi | $1,500,000 | days | |
| 138 Walking Horse Run, Stanley NC | 0.3 mi | $389,900 | days | |
| 307 Park Drive, Stanley NC | 0.3 mi | $345,000 | days | |
| 144 Walking Horse Run, Stanley NC | 0.3 mi | $389,900 | days | |
| 310 Main Street, Stanley NC | 0.4 mi | $269,900 | days | |
| 112 Boyd Drive, Stanley NC | 0.4 mi | $439,000 | days |
Sold Properties Nearby
Mileage is an estimation calculated from the property results address of your search. Driving time will vary from location to location.
| Street Address | Distance | Property Type | Sold Price | Property Details |
Commute Distance & Time
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Mortgage Calculator
| Down Payment Amount | $990,000 |
| Mortgage Amount | $3,960,000 |
| Monthly Payment (Principal & Interest Only) | $19,480 |
* Expand Calculator (incl. monthly expenses)
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| H.O.A. / Maintenance |
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| Property Insurance |
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| Total Monthly Payment | $20,941 |
Demographic Data For Zip 28164
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Transportation to Work |
Source is provided by local and state governments and municipalities and is subject to change without notice, and is not guaranteed to be up to date or accurate.
Property Listing Information
A Courtesy Listing Provided By Britt Commercial Real Estate, LLC
118 Ethel Drive, Stanley NC is a ft2 on a 0.780 acres Appraisal lot. This is for $1,500,000. This has 24 bedrooms, baths, and was built in 1973.
Based on information submitted to the MLS GRID as of 2026-04-28 10:01:24 EST. 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. Some IDX listings have been excluded from this website.
Properties displayed may be listed or sold by various participants in the MLS.
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