This community offers a diversified and competitive unit mix comprised of 4 studio units with approximately 400 ft2 of living space, and 38 two-bedroom units with approximately 1,000 ft2 of living space and 4 three-bedroom and 1.5-bathroom apartment homes. Shaker House was built in 1968 and has been well maintained over the years with mature trees and landscaping. Currently Shaker House is operating at 96% physical occupancy and for many years has maintained this level of performance. Perhaps even more impressive than this asset’s occupancy is the improved rents ownership is achieving on renewals and new leases. The property’s rents are significantly below market. The complex has maintained outstanding historical occupancy in recent years, requiring only minimal management oversight from ownership. Further, IPO has projected an NOI going forward of $272,150based on lease expirations and T12 expenses. Current average rent across the units is $840. However, when the complex is brought up to market, average rent increases to $959. Shaker House represents a well-located asset in Charlotte, poised for new ownership with a value-add mentality. Contact IPO to set up a confidential tour before it’s gone.