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100% Occupied | 10-Unit Apartment Complex 406 W 9th St 10 Unit Apartment Building $2,500,000 ($250,000/Unit) Charlotte, NC 28202
Investment Highlights
- 10 Class A 1 bedroom, 1 bathroom apartments located within a short distance of hundreds of thousands high paying white collar jobs
- Rare 10 unit apartment building in Uptown Charlotte Generally considered the best apartment market in the U.S.
- Adjoining zip code, 28203, is $159,604
- Current in place rents below market
- Average household income for the property’s zip code, 28202, is $ 135,216
- Bull Realty NC license number C17910
Executive Summary
This proposed acquisition of 10 one bedrooms, one bathroom Class A apartments located in the central business district known as Uptown is walking distance to hundreds of thousands of high paying white collar jobs in a high growth, high demand, near-zero vacancy market and 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 | $2,500,000 | Building Class | A |
| Price Per Unit | $250,000 | Lot Size | 0.15 AC |
| Sale Type | Investment | Building Size | 5,704 SF |
| No. Units | 10 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built/Renovated | 1983/2025 |
| Apartment Style | Low-Rise | Parking Ratio | 1.05/1,000 SF |
| Zoning | UR2 - Residential Multi-Family | ||
| Price | $2,500,000 |
| Price Per Unit | $250,000 |
| Sale Type | Investment |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | A |
| Lot Size | 0.15 AC |
| Building Size | 5,704 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built/Renovated | 1983/2025 |
| Parking Ratio | 1.05/1,000 SF |
| Zoning | UR2 - Residential Multi-Family |
Amenities
Unit Amenities
- Air Conditioning
- Dishwasher
- Disposal
- Microwave
- Ceiling Fans
- Crown Molding
- Refrigerator
- Oven
- Carpet
Site Amenities
- Laundry Facilities
- Smoke Free
- Public Transportation
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 10 | - | - |
1 1
Walk Score®
Walker's Paradise (90)
Transit Score®
Excellent Transit (71)
Property Taxes
| Parcel Number | 078-073-08 | Improvements Assessment | $550,300 |
| Land Assessment | $1,026,200 | Total Assessment | $1,576,500 |
Property Taxes
Parcel Number
078-073-08
Land Assessment
$1,026,200
Improvements Assessment
$550,300
Total Assessment
$1,576,500
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100% Occupied | 10-Unit Apartment Complex | 406 W 9th St
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