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Glendale Apartments 229 W Glendale Ave 11 Unit Apartment Building $1,590,000 ($144,545/Unit) 8% Cap Rate Mount Holly, NC 28120
INVESTMENT HIGHLIGHTS
- Great Location close to Charlotte, CLT airport, Belmont, New Caramont hospital and the Whitewater Center
- Walkable to schools and downtown Mount Holly
- Mostly Renovated
EXECUTIVE SUMMARY
**Turnkey, Stabilized 11-Unit Townhome Community in Growing Mount Holly**
Glendale Oaks is a professionally renovated 11-unit townhome property featuring **7 fully updated units** with quartz counters, stainless appliances, and LVP flooring. **Four inherited legacy tenants remain. Four long-tenured tenants remain.**
Community upgrades include **new asphalt parking**, refreshed exterior paint/siding, landscaping, and adjacency to **Ransom Hunter Park** with **walkability to Downtown Mount Holly** and schools. Minutes to I-85/I-485, Uptown Charlotte, CLT Airport, and the new CaroMont Hospital.
**Buy stabilized cash flow with some rental upside in a high-growth suburb — turnkey from day one.**
Glendale Oaks is a professionally renovated 11-unit townhome property featuring **7 fully updated units** with quartz counters, stainless appliances, and LVP flooring. **Four inherited legacy tenants remain. Four long-tenured tenants remain.**
Community upgrades include **new asphalt parking**, refreshed exterior paint/siding, landscaping, and adjacency to **Ransom Hunter Park** with **walkability to Downtown Mount Holly** and schools. Minutes to I-85/I-485, Uptown Charlotte, CLT Airport, and the new CaroMont Hospital.
**Buy stabilized cash flow with some rental upside in a high-growth suburb — turnkey from day one.**
DATA ROOM Click Here to Access
- Offering Memorandum
- Operating and Financials
PROPERTY FACTS
| Price | $1,590,000 | Building Class | C |
| Price Per Unit | $144,545 | Lot Size | 0.84 AC |
| Sale Type | Investment | Building Size | 14,134 SF |
| Cap Rate | 8% | Average Occupancy | 91% |
| No. Units | 11 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1971/2025 |
| Property Subtype | Apartment | Parking Ratio | 1.77/1,000 SF |
| Apartment Style | Townhome | ||
| Zoning | APT02 | ||
| Price | $1,590,000 |
| Price Per Unit | $144,545 |
| Sale Type | Investment |
| Cap Rate | 8% |
| No. Units | 11 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Townhome |
| Building Class | C |
| Lot Size | 0.84 AC |
| Building Size | 14,134 SF |
| Average Occupancy | 91% |
| No. Stories | 2 |
| Year Built/Renovated | 1971/2025 |
| Parking Ratio | 1.77/1,000 SF |
| Zoning | APT02 |
AMENITIES
- Smoke Detector
UNIT AMENITIES
- Air Conditioning
- Cable Ready
- Dishwasher
- Washer/Dryer Hookup
- Heating
- Ceiling Fans
- Range
- Tub/Shower
- Carpet
- Attic
- Family Room
- Pantry
- Vinyl Flooring
- Quartz Countertops
SITE AMENITIES
- Private Bathroom
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 6 | $1,265 | 935 |
| 2+1.5 | 5 | $1,295 | 985 |
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PROPERTY TAXES
| Parcel Number | 124153 | Improvements Assessment | $557,330 |
| Land Assessment | $0 | Total Assessment | $557,330 |
PROPERTY TAXES
Parcel Number
124153
Land Assessment
$0
Improvements Assessment
$557,330
Total Assessment
$557,330
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Basecamp Real Estate
Glendale Apartments | 229 W Glendale Ave
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