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2909-2917 Burgess Dr 12 Unit Apartment Building $2,781,160 CAD ($231,763 CAD/Unit) Charlotte, NC 28208
Investment Highlights
- 10/12 Fully Renovated Units
- Two vacant renovated units ready for immediate lease up upside
- 2-3 Miles from LoSo & South End Charlotte
- Two well below-market occupied units at $995 provide a clear runway to capture additional rent growth upon turn
- Highest In-Place Rent $1535
Executive Summary
12-Unit Townhome Community with Immediate Value-Add Upside:
Twelve-unit townhome community comprised entirely of 2-bedroom/1.5-bath units with 10 of 12 units fully renovated to a modern finish level.
Two recently renovated vacant units represent immediate lease-up upside, while two below-market occupied units at $995 provide a clear runway to capture additional rent growth upon turn.
The highest achieving in-place rent of $1,535 establishes a proven rent ceiling with a direct path to full stabilization.
Access to Charlotte's Most Dynamic Destinations:
2 miles from Lower South End (LoSo), Charlotte's emerging hub of breweries, restaurants, retail, and light rail access, home to major employers including Lowe's Tech Hub, USAA, and LendingTree.
2.5 miles from South End, one of Charlotte's most nationally recognized and vibrant live-work-play corridors.
4 miles from Uptown Charlotte, the region's central business district and primary employment core.
4.5 miles from Charlotte Douglas International Airport, the seventh-busiest airport in the world, and a top-three driver of corporate relocation and expansion in the Charlotte region.
Premium Interior Renovation Package:
Renovated units feature granite countertops, LVP flooring, new carpet, new cabinets, new appliances, vanities, updated modern lighting and fixtures, and washer/dryer connections, a finish level that commands premium rents and supports durable tenant retention in the Charlotte workforce housing segment.
Exterior Capital Investment: The property underwent a full exterior refresh in 2023, including a complete siding and trim replacement, which supports strong curb appeal and reduces near-term capital requirements for an incoming investor.
Twelve-unit townhome community comprised entirely of 2-bedroom/1.5-bath units with 10 of 12 units fully renovated to a modern finish level.
Two recently renovated vacant units represent immediate lease-up upside, while two below-market occupied units at $995 provide a clear runway to capture additional rent growth upon turn.
The highest achieving in-place rent of $1,535 establishes a proven rent ceiling with a direct path to full stabilization.
Access to Charlotte's Most Dynamic Destinations:
2 miles from Lower South End (LoSo), Charlotte's emerging hub of breweries, restaurants, retail, and light rail access, home to major employers including Lowe's Tech Hub, USAA, and LendingTree.
2.5 miles from South End, one of Charlotte's most nationally recognized and vibrant live-work-play corridors.
4 miles from Uptown Charlotte, the region's central business district and primary employment core.
4.5 miles from Charlotte Douglas International Airport, the seventh-busiest airport in the world, and a top-three driver of corporate relocation and expansion in the Charlotte region.
Premium Interior Renovation Package:
Renovated units feature granite countertops, LVP flooring, new carpet, new cabinets, new appliances, vanities, updated modern lighting and fixtures, and washer/dryer connections, a finish level that commands premium rents and supports durable tenant retention in the Charlotte workforce housing segment.
Exterior Capital Investment: The property underwent a full exterior refresh in 2023, including a complete siding and trim replacement, which supports strong curb appeal and reduces near-term capital requirements for an incoming investor.
Property Facts
| Price | $2,781,160 CAD | Lot Size | 0.76 AC |
| Price Per Unit | $231,763 CAD | Building Size | 11,448 SF |
| Sale Type | Investment | Average Occupancy | 92% |
| No. Units | 12 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1970/2023 |
| Property Subtype | Apartment | Parking Ratio | 2/1,000 SF |
| Apartment Style | Low-Rise | Opportunity Zone |
Yes
|
| Building Class | C | ||
| Zoning | R-4, County | ||
| Price | $2,781,160 CAD |
| Price Per Unit | $231,763 CAD |
| Sale Type | Investment |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.76 AC |
| Building Size | 11,448 SF |
| Average Occupancy | 92% |
| No. Stories | 2 |
| Year Built/Renovated | 1970/2023 |
| Parking Ratio | 2/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | R-4, County |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1.5 | 12 | - | 922 |
1 1
Somewhat walkable
30/100
Very drivable
80/100
Limited public transit
20/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 145-233-09 | Improvements Assessment | $1,401,844 CAD |
| Land Assessment | $207,196 CAD | Total Assessment | $1,609,040 CAD |
Property Taxes
Parcel Number
145-233-09
Land Assessment
$207,196 CAD
Improvements Assessment
$1,401,844 CAD
Total Assessment
$1,609,040 CAD
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2909-2917 Burgess Dr
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