June 18, 2022

Dual Investment and Restoration Opportunity in Historic Fulton Heights! Multiplex Arts & Crafts Apartment Houses FOR SALE!


This investment opportunity is extra special! It's not often you'll find not one but TWO handsome 2-story, all-brick early 1900s apartment buildings in a beautiful historic district for sale! Realtor® Greg Rapp with Salisbury Real Estate LLC is the agent to call - 704.213.6846 - to secure this dual investment and restoration opportunity in Historic Fulton Heights in Salisbury, North Carolina - this special 8-plex property!

Welcome to the stately Hanford House at 1102 S. Fulton Street! 

The two brick apartment buildings here sit on a single parcel in the desirable Fulton Heights Neighborhood of Salisbury, North Carolina. One building faces Fulton Street, the other faces Elm Street. 

1102 Fulton Street, listed in the National Registry of Historic Places as The Hanford House, is a massive example of circa 1903-1909 brick Arts & Crafts architecture, boasting a fascinating roof line, two beautiful offset covered porches with handsome square brick columns, two formal entries - one facing Fulton Street and the second facing Elm Street, and a decorative metalwork balcony. Many of the original 12-over-1 windows are intact! This beautiful building, characterized by its groupings of three windows, was originally constructed as an apartment building. The beautiful historic Chestnut Hill Cemetery is across the street.

The (103) Elm Street structure is also solid brick but in the Colonial Revival style with a charming front columned portico.  This building's 9-over-one windows are largely intact. This structure, listed in the Fulton Heights Historic District National Registry, was built at a later date ~ circa 1940. 

Each building includes (4) 1-bedroom units each, for a total of (8) 1-bedroom apartments with  consistent rental histories at $4200 per month total (with room for modification). All units are occupied.

The 1102 Fulton building has a shared water meter. The Elm Street building has 4 separate water meters. All units have their own electric meter, plus one common-area meter at 1102. Two units were refurbished in 2019, and exterior trim is all freshly painted 2022. The properties are bordered by a charming, short granite retaining wall that increases in height as you move from Fulton Street to Elm Street.

Some TLC is needed here, but this single-parcel, double-building investment property will make a solid start or addition to your rental portfolio. 

Both structures are located in the Fulton Heights Historic District and listed on the National Registry of Historic Places, but do not fall under City of Salisbury HPC oversight for exterior changes.  This property is in a neighborhood known for its friendly grid of sidewalks, charming historic bungalows, and its own community park. The vibrant downtown district of Historic Salisbury - with unique shops, restaurants, public library, and two microbreweries - is just blocks away. The beautiful Bell Tower Green city central park is also nearby.

An investment like this does not come along every day!  Give Realtor® Greg Rapp with Salisbury Real Estate LLC a shout today to secure your offer on this 8-plex property, and start cashing in!

1102 Fulton Street 
Salisbury, NC 28144 

Greg Rapp 

Salisbury Real Estate LLC 
704 213 6846 Mobile 

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