402 Ashe Avenue, Newton NC
- 1.3 ac
For Sale $1,500,000
Remarks:
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
General Information:
| List Price: | $1,500,000 |
| Status: | For Sale |
| Type: | Apartment |
| Parking: | Assigned, Parking Lot, Parking Space(s) |
| MLS Number: | CAR4430547 |
| Year Built: | 1975 |
| Sewer Type: | Public Sewer |
Assigned Schools:
| Elementary: | South Newton |
| Middle: | Newton Conover |
| High: | Newton Conover |
Lane Yates
704-232-7238
Broker In Charge
Price & Sales History
| Date | Event | Price | $/SQFT |
| 10-01-2026 | Listed | $1,500,000 | N/A |
| 01-07-2026 | Listed | $415,000 | N/A |
Nearby Schools
These schools are only nearby your property search, you must confirm exact assigned schools.
| School Name | Distance | Grades | Rating |
| South Newton Elementary | 0 miles | PK-05 | 4 |
| North Newton Elementary | 2 miles | PK-05 | 4 |
| Shuford Elementary | 5 miles | PK-05 | 7 |
| Maiden Elementary | 6 miles | KG-06 | 3 |
| Webb A Murray Elementary | 6 miles | PK-05 | 5 |
| Saint Stephens Elementary | 6 miles | KG-06 | 2 |
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 |
| 402 Ashe Avenue, Newton NC | 0 mi | $1,500,000 | days | |
| 113 D Street, Newton NC | 0.1 mi | $150,000 | days | |
| 614 Ashe Avenue, Newton NC | 0.1 mi | $178,900 | days | |
| 329 F Street, Newton NC | 0.2 mi | $264,900 | days | |
| 309 Main Avenue, Newton NC | 0.2 mi | $220,000 | days | |
| 302 College Avenue, Newton NC | 0.2 mi | $330,000 | 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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| 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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| Total Monthly Payment | $20,941 |
Demographic Data For Zip 28658
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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 RU4 Real Estate, Inc.
402 Ashe Avenue, Newton NC is a ft2 on a 1.330 acres Appraisal lot. This is for $1,500,000. This has bedrooms, baths, and was built in 1975.
Based on information submitted to the MLS GRID as of 2026-10-01 19:35:49 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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Neither Yates Realty nor any listing broker shall be responsible for any typographical errors, misinformation, or misprints, and they shall be held totally harmless from any damages arising from reliance upon this data. This data is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties they may be interested in purchasing.
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