Language and Region
Currency

Email*

Please enter a valid email address.

To send this property to multiple individuals, insert a semi-colon between each recipient's email address.

Message

942 characters remaining

Hmm, there seems to have been an error sending your message. Please try again.

Your email has been sent.

Pamlico Apartments 1300 Pamlico St 32 Unit Apartment Building $9,611,700 CAD ($300,366 CAD/Unit) 4.29% Cap Rate Charlotte, NC 28205

.mosaic-column{display:inline-block!important;height:100%!important;width:auto!important}.mosaic-tile i{display:none!important}.mosaic-tile img{height:100%!important;width:auto!important}

Investment Highlights

Great neighborhood lined with Million dollars homes on the same block. Excellent location - Come Visit the Property

Executive Summary

FOR SALE BY OWNER: Perfect 1031 Choice... Well-maintained property managed by the owner; it is located in a great area. (LIHTC) property; the restriction will end in 2029. The current maximum rent is $1265 per unit, which increases yearly. The complex includes a laundry room, community room, and library. Each unit is 1 bedroom and 1 bath; 32 units. Buyers, please conduct your research. I can provide further financial information as needed. Buyer's agent can contact me for their commission. The building is priced at $5,900,000 with the vacant land. The building and lot are on one parcel but have two different addresses: The Building is at 1300 Pamlico Street, and the vacant land is at 1248 Louise Avenue. The property is priced below the current market value due to restrictions. Come visit me and you are welcome to ask anything; my books are open to new buyers.
• Great neighborhood lined with Million-dollar homes on the same block. Excellent location.

Pamlico Apartments Flyer

Financial Summary (Pro Forma - 2024)	Annual (CAD)	Annual Per SF (CAD)
Gross Rental Income	$629,561	$24.45
Other Income	-	-
Vacancy Loss	-	-
Effective Gross Income	$629,561	$24.45
Net Operating Income	-	-

Financial Summary (Pro Forma - 2024)

Gross Rental Income (CAD)
Annual	$629,561
Annual Per SF	$24.45

Other Income (CAD)
Annual	-
Annual Per SF	-

Vacancy Loss (CAD)
Annual	-
Annual Per SF	-

Effective Gross Income (CAD)
Annual	$629,561
Annual Per SF	$24.45

Net Operating Income (CAD)
Annual	-
Annual Per SF	-

Property Facts

Price	$9,611,700 CAD	Apartment Style	Low-Rise
Price Per Unit	$300,366 CAD	Building Class	C
Sale Type	Investment	Lot Size	2.27 AC
Cap Rate	4.29%	Building Size	25,744 SF
Sale Condition	1031 Exchange	Average Occupancy	100%
No. Units	32	No. Stories	2
Property Type	Multifamily	Year Built	1999
Property Subtype	Apartment	Parking Ratio	0.62/1,000 SF
Zoning	N2-B Multifamily - UDO- Zoning- The original plan from 1999, 43 units were allowed, but only 32 were built. The water meter is Master. Electric is Individually metered.

Price	$9,611,700 CAD
Price Per Unit	$300,366 CAD
Sale Type	Investment
Cap Rate	4.29%
Sale Condition	1031 Exchange
No. Units	32
Property Type	Multifamily
Property Subtype	Apartment
Apartment Style	Low-Rise
Building Class	C
Lot Size	2.27 AC
Building Size	25,744 SF
Average Occupancy	100%
No. Stories	2
Year Built	1999
Parking Ratio	0.62/1,000 SF
Zoning	N2-B Multifamily - UDO- Zoning- The original plan from 1999, 43 units were allowed, but only 32 were built. The water meter is Master. Electric is Individually metered.