A value-add opportunity located in Charlotte’s Westside.
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Substantial upside in a recently repositioned asset.
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About the property.
This is an off-market opportunity that I am selling on behalf of a repeat client that does exceptional work. This property has undergone a complete exterior renovation and interiors are underway as well.
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About the location.
Located in West Charlotte, this property has a location that can’t be beat. Just 5 minutes to uptown. The immediate neighborhood has planned new multifamily construction as well as new townhomes.
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About the opportunity.
Total upside play and all you need to do is focus on the interiors. Current effective rents are $621 while new rents are $1,100. So you’re looking at roughly a $450 rent bump through minimal interior improvements.
FAQs
Open the links to the right or watch the short video below for quick answers to most of your initial questions.
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Unpriced as this is an off-market transaction, but I would anticipate that the deal plays out around $100k/unit. The challenge here will be in securing debt which will require a bridge loan.
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This is an off-market opportunity so you need to hustle. I’ll get you up to speed, but a tour is a requirement if you want me to advocate for your offer.
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Exteriors are 100% complete. All you need to do are interiors. Demonstrated rental movement from $621 to $1,100 with the majority of residents staying in-place.
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If you’re looking at this page then you’ve already got the info. Dig into my underwriting, let’s have a chat, and plan a tour. Let’s meet up in Charlotte!
CONTACT
Chris Yeagle
EastGate Multifamily
183 Brady Street, Charleston, SC 29492
Cell: 843-860-6908
Email: chris@eastgatemultifamily.com
Licenses: FL: 3010970, GA: 220941, SC: 68049, NC: 299692