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100% Occupied | 10-Unit Apartment Complex 2611 Holton Ave 10 Unit Apartment Building $1,315,000 ($131,500/Unit) Charlotte, NC 28208
Investment Highlights
- 10 Class B 1 bedroom, 1 bathroom apartments located within a short distance of tens of thousands of jobs
- Average household income growth of 6.4% year over year, Population growth: 1.5% annually
- Limited supply of like kind of apartments
- Current in place rents below market
- Vacancy rate within 2.2 miles of 2611 Holton Ave: 2.2%
- Bull Realty NC license number C17910
Executive Summary
This proposed acquisition of 10 one bedrooms, one bathroom Class B apartments located just 2.2 miles west of Charlotte’s central business in a high growth, high demand, near-zero vacancy market is positioned to deliver immediate cash flow and appreciation due to market dynamics that strongly favor landlords: near-zero vacancies, rising household incomes, limited new supply, and accelerating population growth.
Property Facts
| Price | $1,315,000 | Lot Size | 0.58 AC |
| Price Per Unit | $131,500 | Building Size | 6,000 SF |
| Sale Type | Investment | Average Occupancy | 100% |
| No. Units | 10 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1985 |
| Property Subtype | Apartment | Parking Ratio | 1.67/1,000 SF |
| Apartment Style | Garden | Opportunity Zone |
Yes
|
| Building Class | B | ||
| Zoning | A500 - Residential Multi-Family | ||
| Price | $1,315,000 |
| Price Per Unit | $131,500 |
| Sale Type | Investment |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | B |
| Lot Size | 0.58 AC |
| Building Size | 6,000 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1985 |
| Parking Ratio | 1.67/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | A500 - Residential Multi-Family |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 10 | - | - |
1 1
Property Taxes
| Parcel Number | 061-027-02 | Improvements Assessment | $452,200 |
| Land Assessment | $63,400 | Total Assessment | $515,600 |
Property Taxes
Parcel Number
061-027-02
Land Assessment
$63,400
Improvements Assessment
$452,200
Total Assessment
$515,600
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100% Occupied | 10-Unit Apartment Complex | 2611 Holton Ave
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