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421 Honeywood Ave 12 Unit Apartment Building $2,433,515 CAD ($202,793 CAD/Unit) Charlotte, NC 28216
Investment Highlights
- Value Add
- New patios
- 5 remolded units
- Market rent $1500
Executive Summary
This 12-unit multifamily asset presents a strong value-add investment opportunity in one of the Southeast’s most resilient rental markets. The property has already undergone partial renovation, with 5 out of 12 units fully remodeled, providing a clear path for continued upside through unit upgrades.
Recent leasing activity supports the repositioning strategy, with the latest lease achieving $1,500/month, indicating strong rental demand and the potential to push rents across the remaining units.
Charlotte continues to experience sustained population growth, job expansion, and housing demand, making it a highly attractive market for multifamily investors. The combination of in-place income, proven rent comps, and remaining renovation upside positions this asset for both cash flow growth and long-term appreciation.
Investment Highlights:
12-unit multifamily property
5 renovated units completed
Proven rent benchmark at $1,500/month
Significant remaining value-add potential
Located in a high-growth rental market
Opportunity to increase NOI through continued upgrades
This is an ideal opportunity for an investor seeking a partially stabilized asset with immediate upside in a strong Charlotte submarket.
Recent leasing activity supports the repositioning strategy, with the latest lease achieving $1,500/month, indicating strong rental demand and the potential to push rents across the remaining units.
Charlotte continues to experience sustained population growth, job expansion, and housing demand, making it a highly attractive market for multifamily investors. The combination of in-place income, proven rent comps, and remaining renovation upside positions this asset for both cash flow growth and long-term appreciation.
Investment Highlights:
12-unit multifamily property
5 renovated units completed
Proven rent benchmark at $1,500/month
Significant remaining value-add potential
Located in a high-growth rental market
Opportunity to increase NOI through continued upgrades
This is an ideal opportunity for an investor seeking a partially stabilized asset with immediate upside in a strong Charlotte submarket.
Data Room Click Here to Access
- Operating and Financials
Property Facts
| Price | $2,433,515 CAD | Lot Size | 0.94 AC |
| Price Per Unit | $202,793 CAD | Building Size | 11,417 SF |
| Sale Type | Investment | Average Occupancy | 98% |
| No. Units | 12 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1969 |
| Property Subtype | Apartment | Parking Ratio | 1.49/1,000 SF |
| Apartment Style | Low-Rise | Opportunity Zone |
Yes
|
| Building Class | C | ||
| Zoning | R17MF | ||
| Price | $2,433,515 CAD |
| Price Per Unit | $202,793 CAD |
| Sale Type | Investment |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.94 AC |
| Building Size | 11,417 SF |
| Average Occupancy | 98% |
| No. Stories | 2 |
| Year Built | 1969 |
| Parking Ratio | 1.49/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | R17MF |
Amenities
Unit Amenities
- Air Conditioning
- Washer/Dryer
- Washer/Dryer Hookup
- Heating
- Refrigerator
- Range
- Vinyl Flooring
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 12 | - | 900 |
Somewhat walkable
30/100
Exceptionally drivable
100/100
Limited public transit
30/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Number | 069-133-12 | Improvements Assessment | $1,466,006 CAD |
| Land Assessment | $281,903 CAD | Total Assessment | $1,747,909 CAD |
Property Taxes
Parcel Number
069-133-12
Land Assessment
$281,903 CAD
Improvements Assessment
$1,466,006 CAD
Total Assessment
$1,747,909 CAD
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421 Honeywood Ave
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