1701 Remount Rd - Apartments FOR SALE


Charlotte, NC 28208
$2,250,000 USD
704-831-4633
1701 Remount Rd, Charlotte, NC for Sale
$2,250,000 USD
Apartments - FOR SALE
1/3
null | Request Cap Rate

1701 Remount Rd
Charlotte, NC 28208


HIGHLIGHTS

  • Significantly Below Market Rents
  • Rapidly Transitioning Neighborhood minutes from South End
  • Organic Rent Growth
  • Conveniently Located 5 Miles from Charlotte Douglas Airport, 2.8 miles from Uptown, 1.7 miles from Southend
  • Potential Redevelopment Path
  • Opportunity Zone

OVERVIEW

Marcus & Millichap is pleased to present the Fountain Hill Apartments in Charlotte, NC. The property is a 20-unit garden-style community, built in 1966, situated on 1.09 +/- acres, consists of nine, 1BD x 1B units and eleven, 2BD x 2B units, located at 1701 Remount Rd in a rapidly developing neighborhood minutes from the heart of South End. Conveniently located 1.7 miles from South End, 2.8 from Center City Uptown, 5 miles from Charlotte Douglas Airport, and adjacent to the redeveloped Westover Shopping Center. This property positions its residents’ minutes from all major employment, retail, restaurants, and entertainment that Charlotte has to offer. This asset offers a new investor the opportunity to implement an exterior and interior renovation program to achieve significant premiums in addition to stabilization and organic rent growth. With strong growth within the Charlotte market, the rent growth potential coupled with its location in this rapidly developing corridor of Charlotte, further adds to the attractiveness of this investment opportunity.

FOR SALE DETAILS

PRICE

$2,250,000 USD

PRICE/SF

$149 USD /SF

# OF UNITS

20

PRICE/UNIT

$112,500

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Fountain Hill Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1966

PARKING SPACES

21

LAND DETAILS

LAND ACRES

1.09 AC

LAND SF

47,350 SF

ZONING

R22MF

APN/PARCEL ID

117-023-07

ASK ABOUT THIS PROPERTY

Jeff ShugartsMarcus & MillichapMore Info
704-831-4633

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Jeff ShugartsMarcus & MillichapMore Info
704-831-4633

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