9517 Newell Hickory Grove Rd - Apartments FOR SALE


Charlotte, NC 28215- Eastway
$4,250,000 USD
336-450-4651
9517 Newell Hickory Grove Rd, Charlotte, NC for Sale
$4,250,000 USD
Apartments - FOR SALE
1/7
null | 5.7% Cap Rate

9517 Newell Hickory Grove Rd
Charlotte, NC 28215
Eastway


HIGHLIGHTS

  • Water Metering Billback: Billback program launched May 15, eliminating out-of-pocket utility expenses for ownership.
  • Existing Tax Abatement: Opportunity to benefit from an in-place tax abatement that may help reduce carrying costs and support cash flow.
  • Diverse Unit Mix: Studio, one-bedroom, and two-bedroom floorplans appeal to a broad tenant base.
  • University Submarket: Positioned in one of Charlotte’s fastest-growing submarkets near UNC Charlotte.
  • Charlotte Fundamentals: Sustained in-migration, job growth, and a diverse, expanding economy.

OVERVIEW

Marcus & Millichap is pleased to present University Northside Apartments, a 29-unit multifamily community situated on approximately 1.72 acres. Built in 1989, the property offers a desirable mix of studio, one-bedroom, and two-bedroom floorplans, appealing to a broad tenant base. The low-density layout provides ample green space and a neighborhood-style setting, which continues to resonate with renters seeking affordability and convenience. The asset presents a stable investment opportunity with the potential for incremental revenue growth through interior upgrades and improved operational efficiencies. University Northside is ideally positioned within the University submarket of Charlotte, one of the city's fastest-growing and most dynamic areas. Supported by the presence of UNC Charlotte and a strong employment base, the submarket continues to benefit from population growth and consistent rental demand.

FOR SALE DETAILS

PRICE

$4,250,000 USD

PRICE/SF

$243 USD /SF

# OF UNITS

29

PRICE/UNIT

$146,552

CAP RATE

5.7%

% LEASED

93%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

University Northside Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1989

PARKING SPACES

46

LAND DETAILS

LAND ACRES

1.72 AC

LAND SF

74,923 SF

ZONING

R-17MF

APN/PARCEL ID

097-028-10

ASK ABOUT THIS PROPERTY

Ryan ParrishMarcus & MillichapMore Info
336-450-4651

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Ryan ParrishMarcus & MillichapMore Info
336-450-4651

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