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916 Bromley Rd 8 Unit Apartment Building $2,657,853 CAD ($332,232 CAD/Unit) 5.83% Cap Rate Charlotte, NC 28207
Investment Highlights
- Irreplaceable, PRIME, Myers Park Location
- Priced Below Tax Value
- Historic Charm, Modern Appeal
Executive Summary
Nestled within the northern gateway of Myers Park, Charlotte’s most prestigious and enduring neighborhood, this Bromley Road property represents the type of generational asset that rarely reaches the market. The eight-unit, one-bedroom apartment/condominium building sits on nearly half an acre of prime real estate, surrounded by a mature tree canopy. The location is walkable to the very amenities that make Myers Park a perennial draw for residents. The current owner holds all eight condo units, and after completing a thorough renovation in 2016 that included an upgrade of all building systems, has been successfully leasing this high demand property. Combining an irreplaceable location, historic charm with modern updates, in-place income with clear upside and a uniquely flexible exit option, 916 Bromley is a true generational hold in one of Charlotte’s most desirable neighborhoods.
Property Facts
| Price | $2,657,853 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $332,232 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.48 AC |
| Cap Rate | 5.83% | Building Size | 4,800 SF |
| No. Units | 8 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1924 |
| Property Subtype | Apartment | Parking Ratio | 2.08/1,000 SF |
| Zoning | N2-B | ||
| Price | $2,657,853 CAD |
| Price Per Unit | $332,232 CAD |
| Sale Type | Investment |
| Cap Rate | 5.83% |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.48 AC |
| Building Size | 4,800 SF |
| No. Stories | 2 |
| Year Built | 1924 |
| Parking Ratio | 2.08/1,000 SF |
| Zoning | N2-B |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
- Pantry
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 8 | - | - |
1 1
Very walkable
80/100
Very drivable
80/100
Some public transit
40/100
Moderately bikeable
60/100
Property Taxes
| Parcel Numbers | Improvements Assessment | $2,731,627 CAD | |
| Land Assessment | $0 CAD | Total Assessment | $2,731,627 CAD |
Property Taxes
Parcel Numbers
Land Assessment
$0 CAD
Improvements Assessment
$2,731,627 CAD
Total Assessment
$2,731,627 CAD
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916 Bromley Rd
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