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100% Occupied | 10-Unit Apartment Complex 56 Tribune St 10 Unit Apartment Building $1,425,000 ($142,500/Unit) Concord, NC 28025
Investment Highlights
- 10 Class B 2 bedroom, 1 bathroom apartments located within walking distance of vibrant downtown Concord
- Population growth: 1.8% annually
- Limited supply of like kind of apartments
- Current in place rents below market, Vacancy rate of Concord/Kannapolis market: 2.1%
- Average household income for Cabarrus County $ 112,653 increasing 6% year over year
- Bull Realty NC license number C17910
Executive Summary
This proposed acquisition of 10 two bedrooms, one bathroom Class B apartments in this high growth, high demand, near-zero vacancy market of the Charlotte suburb of Concord 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 | $1,425,000 | Building Class | B |
| Price Per Unit | $142,500 | Lot Size | 0.32 AC |
| Sale Type | Investment | Building Size | 7,808 SF |
| No. Units | 10 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1999 |
| Apartment Style | Low-Rise | Parking Ratio | 1.54/1,000 SF |
| Zoning | RC - Residential | ||
| Price | $1,425,000 |
| Price Per Unit | $142,500 |
| Sale Type | Investment |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.32 AC |
| Building Size | 7,808 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1999 |
| Parking Ratio | 1.54/1,000 SF |
| Zoning | RC - Residential |
Amenities
Unit Amenities
- Air Conditioning
- Wheelchair Accessible (Rooms)
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1.5 | 10 | - | - |
1 1
Property Taxes
| Parcel Number | 5630-04-7520-0000 | Improvements Assessment | $571,160 |
| Land Assessment | $50,000 | Total Assessment | $621,160 |
Property Taxes
Parcel Number
5630-04-7520-0000
Land Assessment
$50,000
Improvements Assessment
$571,160
Total Assessment
$621,160
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100% Occupied | 10-Unit Apartment Complex | 56 Tribune St
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