BEDS0
BATHS
SQUARE FEET26,000
MLS#4346637
STATUSActive
PROPERTY TYPEMulti Unit - Multiple
Property Description
The Eastmont Apartments, located at 386 17th Ave NE and 1601 4th St NE in Hickory, NC, is a 41-unit multifamily community situated on ±2.27 acres across two contiguous parcels. Built in 1966 and 1982, the property features a diversified, high-utility unit mix of 16 Studios, 10 One-Bedroom x One-Bathroom, and 15 Two-Bedroom x One-Bathroom residences. Eastmont Apartments offers durable in-place cash flow with a clear path to additional revenue through continued interior value-add renovations and rent optimization toward prevailing submarket levels.Hickory is strategically positioned at the crossroads of I-40 and US-321, approximately 58 miles from Charlotte, providing residents and employers with commuter-friendly access to Charlotte's job base, airport connectivity, and amenities while maintaining a more attainable cost profile. The market also benefits from gateway connectivity to Western NC destinations, including Boone, NC, and Asheville, NC, reinforcing a compelling lifestyle draw that supports renter depth.A key differentiator for the submarket is its emergence as a Western Piedmont AI-era digital infrastructure corridor, anchored by hyperscale operators, Apple's expanding $5 Billion Campus, Microsoft's $1 Billion multi-site buildout, and nearby Google's $1.2 Billion Lenoir data center investment, driving sustained infrastructure and capital investment tied to rising AI compute demand. For investors, Eastmont Apartments presents a compelling value-add opportunity with clear upside through continued interior upgrades and rent growth to prevailing market levels. The asset is positioned for long-term NOI expansion in a market supported by Charlotte's proximity and durable economic generators, including healthcare, advanced manufacturing, logistics/distribution, higher education, and AI-era digital infrastructure.
Property Features
Property Type: Multi Unit - Multiple
Heating: Electric
Lot Size: 2.27 Acres
Year Built: 1966
Feature Descriptions
Appliances: Other
Days on Site: 55
Exterior: Brick Partial
Foundation: Crawl Space
Laundry: Common Area
Parcel#: 370308876623
Parking: Parking Lot
Pets Allowed: Yes
Sewer: Public Sewer
Units: 41
Water: City
Local Schools
High School: Hickory
Middle School: Northview
Elementary School: Viewmont
Listed By / Shown By
Listed By
Agency Name: Andrew Reed Properties, LLC
Agency Contact: jshugarts@usdevelopments.com
Shown By
Agent Name: Ed Cashwell
Agent Phone: Cell: (781) 720-9444
Agency Title: Lake Norman Realty
Estimate Your Payment
Estimated Payment
$ 0.00 per month $0.00 Principal & Interest $0.00 Property Tax (data not provided by mls) $0.00 Homeowner's InsuranceChange Payment Information
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386 17th Avenue Ne | MLS# 4346637
This multi-family property located at 386 17th Avenue Ne, Hickory, NC 28601 is currently listed for sale with an asking price of call for price. Search Hickory real estate on edc.lakenormanrealty.com today.