208 S 3rd St

Albemarle, NC 28001

$395,000
Price
8
Beds
3,604 Sq. Ft.
$110 / Sq. Ft.
3,604
Sq. Ft.
$110
per Sq. Ft.
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Description

Stabilized, high-margin 3,600sf multifamily asset in the heart of Albemarle’s Revitalized Core offers a rare combination of immediate cash flow and a zero-drag operational model. Property has no common areas, effectively eliminating the unbillable utility costs, cleaning requirements, and management friction typical of corridor-style buildings. The configuration features four 900 SF 2BR/1BA units, each with its own covered front porch, independent exterior entry and a similar layout. Every unit is...Stabilized, high-margin 3,600sf multifamily asset in the heart of Albemarle’s Revitalized Core offers a rare combination of immediate cash flow and a zero-drag operational model. Property has no common areas, effectively eliminating the unbillable utility costs, cleaning requirements, and management friction typical of corridor-style buildings. The configuration features four 900 SF 2BR/1BA units, each with its own covered front porch, independent exterior entry and a similar layout. Every unit is separately metered for electric and water and offers a functional two-level layout with full kitchens, dining and living areas on the main floor, bedrooms and updated bath elements upstairs. Flooring is typically durable LVP or laminate with carpet on the stairs. Modern energy-efficient HVAC systems and ceiling fans keep tenant utility costs low; wood-burning fireplaces are currently sealed closed. The vinyl exterior, street parking, and minimal landscaping keep landlord maintenance negligible. Unfinished basement provides emergency egress and contains storm water control infrastructure, possible storage income, STR bike parking. Significant value-add potential exists through light cosmetic improvements and the flexible Central Business District zoning, which allows easy, by-right conversion to high-yield Short-Term Rental (STR) or Mid-Term Rental (MTR) use. The independent direct-entry layouts are perfect for contactless check-in, appealing to both occasional and corporate guests. Market data for the downtown core supports a projected STR ADR of $180–$215, offering a pathway to significantly outpace traditional long-term rents. The property is well-positioned to capture stable demand from traveling medical professionals and staff at Atrium Health Stanly, Pfeiffer University Health Sciences campus visitors, Albemarle Business Center employees, brewery tourists, and outdoor adventurers heading to Uwharrie National Forest. Guests are steps from the vibrant walkable downtown, including local shops, cafes, Brewing Company, wineries, street festivals, and art walks. Investment Highlights:
• Zoning: CBD (Central Business District) – maximum use flexibility
• Layout: Four units with individual exterior entries and no common area/operational drag. Investment Highlights:
• Zoning: CBD (Central Business District) – maximum use flexibility
• Layout: Four units with individual exterior entries and no common area/operational drag • Infrastructure: individually metered electric and water
• Location: 100% walkable to downtown amenities & Uwharrie Brewing. In AE flood zone. Pfeiffer University, Atrium Health Stanly and the Albemarle Business Center provides a base of short, medium and long term renters
• Low Overhead: No landlord utility expense and minimized maintenance scope. Unit 208 ($950/mo rent) is currently being held vacant and is available for immediate showings. Remaining occupied units are in similar condition and available for interior inspection after accepted contract execution. This property is the cleanest, most versatile management model in the current market — perfect for the self-managed investor. Strong rental history, light cosmetic upside, and multiple income strategies (LTR, STR, or hybrid) provide both stability and significant yield potential. Come see it today.
  1. Listed by Daniel Fisher • Fisher Herman Realty LLC • Daniel@FisherHerman.com
  2. Listed by Rebecca Fisher • Fisher Herman Realty LLC

Property Details for 208 South 3rd Street

Architectural Style
Traditional
Parking Features
On Street
Subdivision Name
None
LISTING UPDATED: 03/25/2026 05:14 AM

Property Details for 208 South 3rd Street

StatusActive
MLS #4358248
Days on Market13
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income / Fourplex
Year Built1918
Lot Size0.17 AC / 7,501 SF
CountyStanly County
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Location

Listing Courtesy of Fisher Herman Realty LLC
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Building Information for 208 South 3rd Street

Stories-Residences-Year Built1918Building Size-Lot Size0.17 AC / 7,501 SF

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$1,917 per month

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$1,917

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Property Information for 208 South 3rd Street

Summary
Location and General Information
  • Longitude: -80.19659404
  • Zoning: CBD
  • Road Frontage Length: 150.0
  • Latitude: 35.34804435
  • Directions: From CHARLOTTE take NC-24 / NC-27 to Albemarle, Exit US-52 BUS N/2nd St. north 0.3 mi towards downtown, RIGHT on S. 2nd St. 0.3 mi, RIGHT on E. South St. / MLK, RIGHT on S. 3rd St. to #208 on RIGHT ****** from CONCORD, take NC 73 to Albemarle, LEFT on W. Main St. 0.5 mi though downtown RIGHT on S 3rd St. 0.2 mi to #208 on RIGHT ****** from SALISBURY, take US-52 to Albemarle LEFT on US 52-BUS/N. 1st St. 1.5 mi through downtown, LEFT W. South St. / MLK 0.2 mi, RIGHT on S. 3rd St. to #208 on RIGHT
Taxes and HOA Information
  • HOA YN: No
  • HOA Subject To: None
  • HOA Subject To Dues: No
  • Tax Assessed Value: $119,513.00
  • Parcel Number: 6548-03-33-1795
  • City Taxes Paid To: Albemarle
School Information
  • Middle Or Junior School: Albemarle
  • High School: Albemarle
  • Elementary School: East Albemarle
Parking
  • Parking: Open Parking YN: No
  • Parking: Other: ample Street Parking (both sides of two streets)
  • Parking: Carport YN: No
  • Garage Spaces: 0.0
  • Garage YN: No
  • Garage Main Level YN: No
Property
Lot Information
  • Elevation: 0
  • Above Grade Finished Area: 3604.0
  • Below Grade Finished Area: 0.0
  • Sq Ft Unheated Basement: 1802
  • Lot Features: Corner Lot, Flood Plain/Bottom Land, Infill Lot, Level, Creek/Stream
  • Lot Size Dimensions: 50x150
  • Lot Size Units: Acres
  • Property Type: Residential Income
  • Property Sub Type Additional: Garden
Property and Assessments
  • Geocode Confidence: High
  • Down Payment Resource YN: Yes
  • New Construction YN: No
  • Photos Count: 32
  • Road Responsibility: Publicly Maintained Road
  • Construction Type: Site Built
  • Assumable: No
  • Senior Community YN: No
  • Plat Book Slide: 2/88
  • Restrictions: Use
  • Restrictions Description: Albemarle CBD zoning
Green Features
  • Green Sustainability: Low VOC Coatings
  • Green Verification Count: 0
Utilities
  • Sewer: Public Sewer
  • Utilities: Cable Available, Electricity Connected, Wired Internet Available
  • Water Source: City
Interior and Exterior Features
Exterior Features
  • Accessibility Features: Door Width 32 Inches or More, Swing In Door(s), Kitchen 60 Inch Turning Radius, Mobility Friendly Flooring
  • Construction Materials: Vinyl
  • Patio And Porch Features: Covered, Front Porch
  • Pool Private YN: No
  • Road Surface Type: None, Paved
  • Roof: Composition
Interior Features
  • Appliances: Electric Range, Refrigerator
  • Cooling: Attic Fan, Central Air, Electric
  • Heating: Central, Electric
  • Interior Features: Attic Other
  • Laundry Features: None
  • Fireplace Features: Living Room, Non-Functional, Wood Burning
  • Door Features: Storm Door(s)
  • Flooring: Carpet, Laminate
  • Foundation Details: Basement
  • Basement YN: Yes
  • Basement Features: Dirt Floor, Unfinished
  • Stories: 3
Multi Family
Multi-Family Information
  • Unit Type: 2 Bedroom
  • Unit Room Type: Bedroom(s), Kitchen, Dining Area, Bathroom(s), Primary Bedroom, Living Room
  • Number Of Units Total: 4
Rental
Rent Information
  • Security Features: Smoke Detector(s)
  • Tenant Pays: All Utilities
  • Pets Allowed: Conditional

Property History for 208 South 3rd Street

DateEvent & SourcePriceAppreciation
Mar 17, 2026

Listed (Active)

CANOPY #4358248

$395,000—
DateEvent & SourcePrice
03/17/2026

Listed (Active)

CANOPY #4358248

$395,000

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Schools near 208 South 3rd Street

This home is within Stanly County School District.
Rating
School
Type
Grades
Distance
East Albemarle Elementary School
Public - K to 5
Albemarle Middle School
Public - 6 to 8
Albemarle High School
Public - 9 to 12
Stanly Academy Learning Center
Public - 8 to 12
Rating
School
Distance
East Albemarle Elementary School
PublicK to 5

Albemarle Middle School
Public6 to 8

Albemarle High School
Public9 to 12

Stanly Academy Learning Center
Public8 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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More information about 208 South 3rd Street, Albemarle, NC 28001

208 South 3rd Street is a multi-family home for sale in Albemarle, NC 28001. This property was listed for sale on March 17, 2026 by Fisher Herman Realty LLC, it's currently listed at $395,000. This listing's school district is Stanly County School District. Nearby schools include East Albemarle Elementary School, Albemarle Middle School and Albemarle High School. 208 South 3rd Street is a 8-bed, 4-bath, 3,604 sqft multi-family home built in 1918.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass, Inc., its subsidiaries, affiliates and their agents and associated third parties expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity. Subject to change at any time. Compass, Inc., its subsidiaries, affiliates and their agents and associated third parties make no guarantee, warranty or representation regarding the accuracy of any waterfront feature, water view or waterfront view.

Listing Courtesy of Fisher Herman Realty LLC

Based on information submitted to the MLS GRID as of 03/25/2026 05:14 AM. 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. Properties displayed may be listed or sold by various participants in the MLS. IDX information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data is deemed reliable but is not guaranteed by MLS GRID. Use of the MLS GRID data may be subject to an end user license agreement prescribed by the applicable MLS of the Member Participant, if any, and as amended from time to time.