917-362-1485
650 E Brooklyn Village Ave, Charlotte, NC for Sale
Apartments - FOR SALE
1/25
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650 E Brooklyn Village Ave
Charlotte, NC 28202
Second Ward


HIGHLIGHTS

  • 20% rent to income ratio offers affordable luxury and rental pricing power.
  • Market supply cliff strengthens rent fundamentals — 68% YoY delivery decrease within two mile radius.
  • Historically low basis at a discount to replacement cost — 27% below 2022 peak year average.
  • Cyclical trough NOI with a clear path to recovery — ±10% projected NOI increase, with rents 5.2% below 2023 peaks.
  • ±50,000 Fortune 500 HQ jobs and robust education pipeline drive long-term rental demand.
  • Competitive set suggests additional rent upside achievable — rent PSF 6.3% below competitive set average.

OVERVIEW

Avison Young, as exclusive agent, is pleased to present Savoy Apartments, a 302-unit, Class A multifamily community with four ground-floor retail units located in the heart of Uptown Charlotte’s Second Ward. Delivered in 2018, this six-story, institutional-quality asset offers turnkey product with a best-in-class amenity package and walkable access to top-tier dining, the Spectrum Center, Bank of America Stadium, and Uptown’s corporate employment base. A stabilized, recently constructed asset with diversified income, Savoy offers investors reliable cash flow in a market ranked among the nation’s best for job, income, and population growth – positioned to capture outsized upside as supply continues to tighten.

FOR SALE DETAILS

PRICE

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# OF UNITS

302

CAP RATE

Request Cap Rate

% LEASED

99%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Savoy

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

6

YEAR BUILT

2018

PARKING SPACES

319

LAND DETAILS

LAND ACRES

2.64 AC

LAND SF

115,069 SF

ZONING

UMUD

APN/PARCEL ID

125-171-02

ASK ABOUT THIS PROPERTY

James NelsonAvison YoungMore Info
917-362-1485

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James NelsonAvison YoungMore Info
917-362-1485

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