Listing by: Jeff Shugarts Jr, Andrew Reed Properties, LLC, jshugarts@usdevelopments.com
0 Beds
n/a Full bath
26,000SqFt
Active
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 Details | ||
|---|---|---|
| Price | $3,075,000 | |
| Lot Size Area | 2.27 | |
| Lot Size Area Units | Acres | |
| Property Type | MultiFamily | |
| Sub type | Apartment | |
| MLS Sub type | Apartment | |
| Year Built | 1966 | |
| Heating | Electric | |
| Foundation | Crawl Space | |
| Laundry Features | Common Area | |
| Parking Description | Parking Lot | |
Geographic Data | ||
| County | Catawba | |
| Latitude | 35.754451 | |
| Longitude | -81.330432 | |
Address Information | ||
| Address | 386 17th Avenue NE, Hickory, NC 28601 | |
| Postal Code | 28601 | |
| City | Hickory | |
| State | NC | |
| Country | United States | |
Listing Information | ||
| Listing Office | Andrew Reed Properties, LLC | |
| Listing Office Phone | 704-576-4322 | |
| Listing Agent | Jeff Shugarts Jr | |
| Listing Agent Phone | 832-515-1289 | |
| Attribution Contact | jshugarts@usdevelopments.com | |
| Web Url | https://listings.lighthousevisuals.com/sites/lnvajko/unbranded | |
| Compensation Disclaimer | The offer of compensation is made only to participants of the MLS where the listing is filed. | |
| Special listing conditions | None | |
| Terms | Cash, Conventional | |
School Information | ||
| Elementary School | Viewmont | |
| Middle School | Northview | |
| High School | Hickory | |
MLS Information | ||
| Days on market | 0 | |
| MLS Status | Active | |
| Listing Date | Feb 23, 2026 | |
| Listing Last Modified | Feb 23, 2026 | |
| Tax ID | 370308876623 | |
| MLS # | CAR4346637 | |
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Listings courtesy of Canopy MLS as distributed by MLS GRID.
Based on information submitted to the MLS GRID as of 2026-03-09T19:08:56.090742Z. 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.
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