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656 Dr Martin Luther King Jr Boulevard, Kinston, NC 28501

$689,500
Property Type: Comm Sale or Lease Square Footage: 7,056 Lot Size (sq. ft.): 12,197 Status: Active
Current Price: $689,500 List Date: 7/24/2025 Last Modified: 7/25/2025

Description

🔥 Turnkey 10-Unit Value-Add Opportunity - Kinston, NC 🔥 This well-located 10-unit multifamily property in the heart of Kinston presents a compelling investment for both seasoned and emerging investors. The 7,056 SF building is comprised of nine spacious 2-bedroom units and one 1-bedroom unit. Extensive renovations have already been completed, including updated flooring, new countertops, and stainless steel appliances — delivering modern, durable interiors that attract quality tenants. Major capital improvements include a new roof, and HVAC systems are being replaced as new tenants are secured. The property is professionally managed with a focus on tenant retention and long-term lease stabilization. Tenants are responsible for all utilities except landscaping, keeping your operating costs lean and predictable. Located just minutes from Downtown Kinston and Grainger Stadium, this property sits in a high-demand rental corridor with future upside. Leasing efforts are ongoing to maximize occupancy and rental income, offering the potential for strong cash flow and long-term appreciation. 📈 Whether you're looking for a fully renovated turnkey asset, a cash-flowing addition to your portfolio, or a value-add opportunity in a growing market, this property checks all the boxes.

More Information MLS# 100521025

Contract Info

Available Date: 2025-07-25 Status: Active Delayed Marketing?: No Marketing Start Date: 2025-01-31 Sub-Type: Multi Family Garage: N/A Sale/Lease: Sale Listing Price: 689500 Current Price: $689,500 List Price/SqFt: 97.72 Stipulation of Sale: Standard

Location Information

Street #: 656 Street Name: Dr Martin Luther King Jr Street Suffix: Boulevard County: Lenoir State/Province: NC Zip Code: 28501 City Limits: Yes Marketing City: Kinston Subdivision: Not In Subdivision Secondary Subdivision: N/A Geo Lat: 35.267338 Geo Lon: -77.572288

Remarks and Showing

Directions to Property: From US 70 E, Use the left 2 lanes to turn slightly left onto US-258 BUS S/US-70 BUS E/W Vernon Ave. Continue to follow W Vernon Ave and Pass by Pizza Hut (on the right in 1.6 mi). Turn right onto Dr Martin Luther King Jr Blvd. Destination will be on the right Sign on Property: Yes

Building Info

New Construction: No

BuildingExt Features

SqFt - Heated (Primary): 7056

Legal and Taxes

Tax Assessed Value: 82434 Deed Book: 2005 Deed Page: 496 Legal: 656 DR MLK JR BL Broker Owner: No PID: 452511651249 Tax Identifier: 452511651249 Plat Book: P7 Plat Page: 388 Total Real Estate Property Taxes: 1331.31 Special Assessments: none Tax Year: 2024 Year Built: 1921 Zoning: I1 Cobra Zone: No

Property Features

Basement: None Exterior Finish: Brick Parking Features: Gravel; Off Street; On Site; Parking Lot Lot Description: Corner Lot Current Use: Multi-Family Heating System Fuel Source: Electric
Listing Office: Fathom Realty NC, LLC Cary
Last Updated: July - 25 - 2025
656 Dr Martin Luther King Jr Boulevard, Kinston, NC 28501- MLS# 100521025
Copyright 2024 NCRMLS. All rights reserved. North Carolina Regional Multiple Listing Service, (NCRMLS), provides content displayed here (“provided content”) on an “as is” basis and makes no representations or warranties regarding the provided content, including, but not limited to those of non-infringement, timeliness, accuracy, or completeness. Individuals and companies using information presented are responsible for verification and validation of information they utilize and present to their customers and clients. NCRMLS will not be liable for any damage or loss resulting from use of the provided content or the products available through Portals, IDX, VOW, and/or Syndication. Recipients of this information shall not resell, redistribute, reproduce, modify, or otherwise copy any portion thereof without the expressed written consent of NCRMLS.
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© Copyright 2023. NCRMLS. All rights reserved. North Carolina Regional Multiple Listing Service, (NCRMLS), provides content displayed here (“provided content”) on an “as is” basis and makes no representations or warranties regarding the provided content, including, but not limited to those of noninfringement, timeliness, accuracy, or completeness. Individuals and companies using information presented are responsible for verification and validation of information they utilize and present to their customers and clients. NCRMLS will not be liable for any damage or loss resulting from use of the provided content or the products available through Portals, IDX, VOW, and/or Syndication. Recipients of this information shall not resell, redistribute, reproduce, modify, or otherwise copy any portion thereof without the expressed written consent of NCRMLS.