126-unit for sale near Charlotte - Off Market

[Aristotle Kumpis]

We are selling this 126-unit located near Charlotte. Asking price is $2.1M. Off market. All buildings have new roofs as of a few years ago. This is a value add property. The previous owner started doing some upgrades and work, but only got about 10% done. There is a mix of 1bd/1ba, 2bd/2ba, and 3bd/2ba units. Currently, only 20% occupied.

Depending on the investor, we estimate putting about $5K-$8K per unit for rehab. This will put the property at market rents, and add equity into the property. We also project that when rehabbed and stabilized, this property will be valued at around $3.5M or higher. 

This deal is for the investor who wants to re-position a property, and build equity. If you want more information, please contact me. Serious inquires only. No buyer reps allowed.