1917 Pegram St - Apartments FOR SALE


Charlotte, NC 28205- Villa Heights
$1,175,000 USD
704-575-1993
1917 Pegram St, Charlotte, NC for Sale
$1,175,000 USD
Apartments - FOR SALE
1/11
null | Request Cap Rate

1917 Pegram St
Charlotte, NC 28205
Villa Heights


OVERVIEW

Nestled in the heart of Charlotte’s vibrant Villa Heights neighborhood, 1917 Pegram Street presents a rare and compelling investment opportunity. This multifamily property is a quadraplex. Just a short walk from the bustling NODA district, residents enjoy immediate access to Charlotte’s premier nightlife, restaurants, breweries, and the Lynx Blue Line, making this location highly desirable for both short-term and long-term tenants. The building underwent a complete renovation in 2020, transforming it into a modern, turnkey set of residences. Each unit is thoughtfully outfitted with a full appliance package, including stackable washer/dryer units, ensuring convenience and comfort for tenants. The interiors are fully furnished, reflecting the properties’ history as corporate short term rentals for the past five years. This setup allows a new owner to seamlessly continue short-term operations or pivot to long-term leasing strategies. The exterior spaces are equally appealing, featuring green space shaded by mature trees and a fenced-in dog/play park, enhancing the livability and charm of the community. With all units intentionally made vacant by the end of October 2025, the quadraplex offers a clean slate for investors to place vetted tenants on their own terms, maximizing rental income and operational control. The valuation of this portfolio is based on a Pro Forma financial model, which outlines the income potential and projected returns. Given the properties’ proximity to downtown Charlotte, and the ever-growing popularity of NODA, there is significant upside potential. Whether continuing with furnished short-term rentals or transitioning to long-term leases, this quadraplex is a strategic acquisition for investors seeking growth, flexibility, and location-driven value. 1917 has total building size of 3,584 sf. Linens and towels come with each unit.

FOR SALE DETAILS

PRICE

$1,175,000 USD

PRICE/SF

$577 USD /SF

# OF UNITS

4

PRICE/UNIT

$293,750

CAP RATE

Request Cap Rate

% LEASED

0%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Villa Heights Area of Charlotte Multi-Family

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1968

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.26 AC

LAND SF

11,326 SF

ZONING

N1-C

APN/PARCEL ID

083-096-14

ASK ABOUT THIS PROPERTY

Peter RiekeColdwell Banker Commercial RealtyMore Info
704-575-1993

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.

Peter RiekeColdwell Banker Commercial RealtyMore Info
704-575-1993

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.