This 22-unit multifamily community offers a strong lease-up and stabilization opportunity in North Charlotte with limited remaining execution risk as the improvements have been made! The property is currently ~64% occupied, with the majority of units renovated and remaining vacant units largely rent-ready, allowing for immediate NOI growth through leasing. Only the clubhouse/SFR unit and one additional unit remain unrenovated, while significant capital improvements, including new roofs, updated HVAC systems, and extensive unit renovations, have already been completed. Clubhouse built 1940, apartments are 1960. Located minutes from Camp North End and less than 10 minutes from Uptown Charlotte, the asset sits within an active growth corridor supported by durable rental demand.
Property Features
Bedrooms
Appliances
- Dishwasher
- Electric Range
- Microwave
- Refrigerator
- Laundry Features: In Unit
Heating and Cooling
- Cooling Features: Central Air
- Heating Features: Central
- Heating: Yes
Bathrooms
Land Info
- Additional Parcels: No
- Lot Size Acres: 2.28
- Lot Size Square Feet: 99317
Exterior and Lot Features
- Road Responsibility: Publicly Maintained Road
- Road Surface Type: Asphalt, Paved
Garage and Parking
- Open Parking: No
- Parking Features: Parking Lot
Homeowners Association
- Association: No
- Calculated Total Monthly Association Fees: 0
- Pets Allowed: Conditional
School Information
- Elementary School: Unspecified
- High School: Unspecified
- Middle School: Unspecified
Multi-Unit Info
- Number of Units: 22
- Bedrooms in Unit-1: 2
- Bedrooms in Unit-2: 5
- Total Bathrooms in Unit-1: 1
- Total Bathrooms in Unit-2: 2
- Full Bathrooms in Unit-1: 1
- Full Bathrooms in Unit-2: 2
- Unit-1 Square Feet: 732
- Unit-2 Square Feet: 1850
Rental Info
- Tenant Pays: All Utilities
Other Property Info
- Source Listing Status: Active
- County: Mecklenburg
- Source Property Type: Residential Income
- Parcel Number: 077-052-49
- Postal Code Plus 4: 1034
- Zoning Description: N2-B
- Property Subtype: Apartment
Building and Construction
- Year Built: 1960
- Above Grade Finished Area: 17222
- BelowGradeFinishedArea: 0
- Building Area Total: 17222
- Construction Materials: Brick Full
- Foundation Details: Crawl Space
- Property Age: 66
- Structure Type: Site Built
- Total Above Grade Sqft Area: 17222
Utilities
- Sewer: Public Sewer
- Water Source: City