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Karen Court Apartments 325 Hall Ln 12 Unit Apartment Building $2,550,000 ($212,500/Unit) 6.24% Cap Rate Pineville, NC 28134
Investment Highlights
- Major Capital Improvements Completed
- Strong In-Place Cash Flow
- 6 Units Remaining for Rent Increases
- 100% Occupied
- Value-Add Opportunity
- Prime Pineville Location
Executive Summary
Rare opportunity to acquire a 100% occupied 12-unit apartment community in the highly desirable Pineville, NC market community consisting of 4 two-bedroom units and 8 one-bedroom units. The property has benefited from major capital improvements and offers investors immediate cash flow with significant upside potential.
Ownership has successfully increased rents on six units, while the remaining six units provide a clear value-add opportunity through future rent growth. Conveniently located near Charlotte's major employment centers, shopping, and transportation corridors, this asset combines stable income with long-term appreciation potential.
PLEASE DO NOT DISTURB TENANTS
Ownership has successfully increased rents on six units, while the remaining six units provide a clear value-add opportunity through future rent growth. Conveniently located near Charlotte's major employment centers, shopping, and transportation corridors, this asset combines stable income with long-term appreciation potential.
PLEASE DO NOT DISTURB TENANTS
Property Facts
| Price | $2,550,000 | Apartment Style | Low-Rise |
| Price Per Unit | $212,500 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.88 AC |
| Cap Rate | 6.24% | Building Size | 8,924 SF |
| No. Units | 12 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1972 |
| Zoning | R7 | ||
| Price | $2,550,000 |
| Price Per Unit | $212,500 |
| Sale Type | Investment |
| Cap Rate | 6.24% |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.88 AC |
| Building Size | 8,924 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1972 |
| Zoning | R7 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 12 | - | - |
1 1
Fairly walkable
50/100
Exceptionally drivable
90/100
Minimal public transit
10/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 221-085-04 | Improvements Assessment | $903,900 |
| Land Assessment | $370,000 | Total Assessment | $1,273,900 |
Property Taxes
Parcel Number
221-085-04
Land Assessment
$370,000
Improvements Assessment
$903,900
Total Assessment
$1,273,900
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Presented by
HRC Partners LLC
Karen Court Apartments | 325 Hall Ln
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