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Flats at 2200 2201 Alma Ct 22 Unit Apartment Building $3,000,000 ($136,364/Unit) Charlotte, NC 28206
INVESTMENT HIGHLIGHTS
- Majority of units renovated
- Directly in path of growth
- Significant Capital Improvements Completed
EXECUTIVE SUMMARY
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 FACTS
| Price | $3,000,000 | Building Class | C |
| Price Per Unit | $136,364 | Lot Size | 2.28 AC |
| Sale Type | Investment | Building Size | 17,222 SF |
| No. Units | 22 | Average Occupancy | 64% |
| Property Type | Multifamily | No. Stories | 1 |
| Property Subtype | Apartment | Year Built | 1964 |
| Apartment Style | Garden | Opportunity Zone |
Yes
|
| Zoning | R22MF - Residential | ||
| Price | $3,000,000 |
| Price Per Unit | $136,364 |
| Sale Type | Investment |
| No. Units | 22 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 2.28 AC |
| Building Size | 17,222 SF |
| Average Occupancy | 64% |
| No. Stories | 1 |
| Year Built | 1964 |
| Opportunity Zone |
Yes |
| Zoning | R22MF - Residential |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Microwave
- Heating
- Refrigerator
- Tub/Shower
SITE AMENITIES
- 24 Hour Access
- Smoke Free
- Walk-Up
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 21 | - | 732 |
| 5+2 | 1 | - | 1,850 |
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $6,654,300 | |
| Land Assessment | $2,465,000 | Total Assessment | $9,119,300 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$2,465,000
Improvements Assessment
$6,654,300
Total Assessment
$9,119,300
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Presented by
Britt Commercial Real Estate LLC
Flats at 2200 | 2201 Alma Ct
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