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1357 Sharon Rd W
Charlotte, NC 28210
Sharon West · Multifamily Property For Sale
·
72 Units
INVESTMENT HIGHLIGHTS
- Capture $128+ rent premiums with renovated units. Light upgrades ease a second-phase value-add. Upside: submetering, water billing, and w/d hookups.
- Walking Distance to LYNX Light Rail Stop
- Sharon West, with $1M+ in improvements since 2023, needs no exterior CapEx, offering turnkey stability and potential for interior renovations.
- With 7% rent growth and 95% occupancy, Sharon West excels despite supply pressure, showcasing strong demand, management, and community appeal.
- With under 1% bad debt in 12 months, this property outperforms Charlotte peers. High renewal rates ensure stable cash flow from Day 1.
- Prime location near retail, dining, Carolina Pavilion. Close to major employers like Snyder’s-Lance, Amazon, Microsoft, offering great convenience.
EXECUTIVE SUMMARY
Berkadia is excited to present Sharon West, a 72-unit property in south Charlotte. For the first time in 50+ years, this asset is being publicly listed for sale. Sharon West offers a prime value-add investment opportunity with strong market fundamentals and impressive performance. It has significant income growth potential through a second-phase renovation plan. The current owner purchased directly from the original development family and has made extensive capital improvements in the last two years, leaving minimal exterior capital needs but plenty of unit upside for the next investor. Conveniently located 100 yards from a light rail station along the main South Boulevard artery, it offers excellent access to major employers and amenities in Charlotte.
PROPERTY FACTS
| Sale Type | Investment | Lot Size | 4.67 AC |
| No. Units | 72 | Building Size | 76,578 SF |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1987 |
| Apartment Style | Garden | Parking Ratio | 1.92/1,000 SF |
| Building Class | C | ||
| Zoning | R17MF - Multifamily Residential | ||
| Sale Type | Investment |
| No. Units | 72 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 4.67 AC |
| Building Size | 76,578 SF |
| No. Stories | 2 |
| Year Built | 1987 |
| Parking Ratio | 1.92/1,000 SF |
| Zoning | R17MF - Multifamily Residential |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Balcony
- Cable Ready
- Dishwasher
- Disposal
- Microwave
- Washer/Dryer Hookup
- Heating
- Ceiling Fans
- Kitchen
- Ice Maker
- Refrigerator
- Oven
- Range
- Carpet
- Wi-Fi
- Freezer
- Patio
- Vinyl Flooring
SITE AMENITIES
- 24 Hour Access
- Laundry Facilities
- Picnic Area
- Pool
- Property Manager on Site
- Grill
- Smoke Free
- Sundeck
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 14 | - | 675 |
| 2+1.5 | 22 | - | 915 |
| 3+2 | 20 | - | 1,127 |
| 3+1.5 | 16 | - | 1,320 |
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $10,780,511 CAD | |
| Land Assessment | $4,655,023 CAD | Total Assessment | $15,435,533 CAD |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$4,655,023 CAD
Improvements Assessment
$10,780,511 CAD
Total Assessment
$15,435,533 CAD
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