238 Unit Apartment Complex
Location North Carolina,United States
Asking Price Range $10.0M - $20.0M
Gross Revenues $1650000
Net Profit / Cash Flow $1120000
Cash Flow Type EBITDA
Seller Finance Not Disclosed
Year Established 1971
Number of Employees 4 - 5
Relocatable No
Number of Employees 4 - 5
Real Estate Owned
Description PRICE REDUCED NEAR $1.50 MILLION! 238 lovely units 3 miles from downtown Charlotte Central Business District. The apartment complex is running perfectly with only potential of having huge upside in property value and rental income.
CAP RATE will increase to near 8.50% in the short term just by increasing rents to market rates.
The property lies on just less than 20 acres of luscious landscaping and rolling hills. In addition, surrounding apartment complexes are all well maintained. In the very near vicinity, there are upper end commercial plazas with high traffic counts. The roofs are Pitched with Asphalt Shingles and 95% of the roofs in the complex have been replaced over the last few years. 28 Two Story Buildings in total. Beautifully maintained combination for exterior finish of brick veneer and vinyl siding. Over 220,000SF. Price: $14,000,000. CAP: 8.00%. Contact for more information on this Apartment Complex for sale.
Click Here To Contact Seller
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