2909-2917 Burgess Dr - Apartments FOR SALE


Charlotte, NC 28208- Reid Park
$2,000,000 USD
832-515-1289
2909-2917 Burgess Dr, Charlotte, NC for Sale
$2,000,000 USD
Apartments - FOR SALE
1/14
null | Request Cap Rate

2909-2917 Burgess Dr
Charlotte, NC 28208
Reid Park


HIGHLIGHTS

  • 10/12 Fully Renovated Units
  • Two well below-market occupied units at $995 provide a clear runway to capture additional rent growth upon turn
  • Two vacant renovated units ready for immediate lease up upside
  • Highest In-Place Rent $1535
  • 2-3 Miles from LoSo & South End Charlotte

OVERVIEW

12-Unit Townhome Community with Immediate Value-Add Upside: Twelve-unit townhome community comprised entirely of 2-bedroom/1.5-bath units with 10 of 12 units fully renovated to a modern finish level. Two recently renovated vacant units represent immediate lease-up upside, while two below-market occupied units at $995 provide a clear runway to capture additional rent growth upon turn. The highest achieving in-place rent of $1,535 establishes a proven rent ceiling with a direct path to full stabilization. Access to Charlotte's Most Dynamic Destinations: 2 miles from Lower South End (LoSo), Charlotte's emerging hub of breweries, restaurants, retail, and light rail access, home to major employers including Lowe's Tech Hub, USAA, and LendingTree. 2.5 miles from South End, one of Charlotte's most nationally recognized and vibrant live-work-play corridors. 4 miles from Uptown Charlotte, the region's central business district and primary employment core. 4.5 miles from Charlotte Douglas International Airport, the seventh-busiest airport in the world, and a top-three driver of corporate relocation and expansion in the Charlotte region. Premium Interior Renovation Package: Renovated units feature granite countertops, LVP flooring, new carpet, new cabinets, new appliances, vanities, updated modern lighting and fixtures, and washer/dryer connections, a finish level that commands premium rents and supports durable tenant retention in the Charlotte workforce housing segment. Exterior Capital Investment: The property underwent a full exterior refresh in 2023, including a complete siding and trim replacement, which supports strong curb appeal and reduces near-term capital requirements for an incoming investor.

FOR SALE DETAILS

PRICE

$2,000,000 USD

PRICE/SF

$175 USD /SF

# OF UNITS

12

PRICE/UNIT

$166,667

CAP RATE

Request Cap Rate

% LEASED

92%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1970

PARKING SPACES

24

LAND DETAILS

LAND ACRES

0.76 AC

LAND SF

33,106 SF

ZONING

R-4, County

APN/PARCEL ID

145-233-09

ASK ABOUT THIS PROPERTY

Jeff ShugartsUS Developments, LLCMore Info
832-515-1289

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Jeff ShugartsUS Developments, LLCMore Info
832-515-1289

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