Closed

$1,550,000

48708 State Highway 52, Richfield, NC 28137

36beds

21,900sqft

Multi Family

Built in 1969

-- sqft lot

$1,542,900 Zestimate^®

$71/sqft

$1,092 Estimated rent

Home value

$1,542,900

$1.27M - $1.88M

$1,092/mo

Zestimate^® history

Owner options

List your home for rent

$1,092/mo

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$1,092/mo

Rent Zestimate^®

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$8,874/mo

Est. payment

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$8,874/mo

Est. payment

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What's special

Heated square feetApartment unitsBrick buildingsLvp flooringReplacement windowsHeat pumps

12 All brick buildings with 23 apartment units, approximately 21,900 heated square feet, on 8 acres, zoned Highway Business, average yearly operating income $212,676, average yearly expenses $102,452.58, average net income $110,223. 16 of the 23 units have been renovated with heat pumps, replacement windows, LVP flooring, paint, & fixtures. There's room to build additional buildings & units if desired. Property is serviced by public water supply & on site private sewer treatment system. Great location right on Highway 52 just outside Phifer University & near Hwy 49 with quick commute to Kannapolis, Concord, & Charlotte NC.

Facts & features

Interior

Bedrooms & bathrooms

Bedrooms: 36
Bathrooms: 24
Full bathrooms: 24

Heating

Forced Air, Heat Pump

Cooling

Central Air

Appliances

Included: Electric Range
Laundry: In Unit

Features

Doors: Insulated Door(s)
Windows: Insulated Windows
Has basement: No

Interior area

Total structure area: 21,900
Total interior livable area: 21,900 sqft
Finished area above ground: 21,900
Finished area below ground: 0

Property

Parking

Total spaces: 36
Parking features: Parking Lot, Parking Space(s)
Uncovered spaces: 36

Features

Stories: 1

Lot

Size: 8 Acres
Features: Cleared, Level

Details

Parcel number: 661303448640
Zoning: H-B
Special conditions: Standard

Construction

Type & style

Home type: MultiFamily
Property subtype: Multi Family

Materials

Brick Full
Foundation: Crawl Space

Condition

New construction: No
Year built: 1969

Utilities & green energy

Sewer: Private Sewer
Water: City
Utilities for property: Electricity Connected, Underground Utilities

Community & HOA

Location

Region: Richfield

Financial & listing details

Price per square foot: $71/sqft
Tax assessed value: $557,834
Date on market: 8/20/2025
Cumulative days on market: 105 days
Listing terms: Cash,Conventional,Owner Financing
Tenant pays: All Utilities
Electric utility on property: Yes
Road surface type: Asphalt, Gravel, Paved

Price history

Date	Event	Price
3/4/2026	Sold	$1,550,000-13.9%$71/sqft
Source: Canopy MLS as distributed by MLS GRID #4293668 Report a problem
8/20/2025	Listed for sale	$1,800,000$82/sqft
Source: Canopy MLS as distributed by MLS GRID #4293668 Report a problem