Multifamily
Beaver Run
414 11th St SW, Hickory, NC 28602
Listing Price: $1,900,000
Investment Overview
Marcus & Millichap is pleased to present the exclusive opportunity to acquire the Beaver Run Apartments located at 414 11th St SW, 1.8 miles from the newly opened Appalachian State Graduate Campus, in Hickory, NC. This property is comprised of 24 units, built in 2001, that include 24, one-bedroom and one-bathroom floorplans. This property offers an investor the opportunity to continue to capitalize on proven in place value-add renovations to the interior of the units and increase rents to submarket levels.
The Hickory multifamily market has experienced significant growth over the last several years, fueled by its proximity to Charlotte and residents seeking an economical alternative to higher priced rental rates seen within surrounding markets. This growth is projected to continue as Hickory’s economy has been influenced by similar patterns, rapidly transforming from a smaller, separate economy to a popular Charlotte submarket alternative for manufacturing, communication, data, and logistics. As the Hickory market continues to expand and gain national investor prominence, the Beaver Run Apartments are perfectly positioned to leverage this growth opportunity moving forward.
Beaver Run
Investment Highlights
- Proven In Place Value-Add: Numerous Upside Opportunities Through Increasing Rents to Submarket Levels and Continuation of Proven In Place Value-Add Initiative
- Economic Generators: Catawba County is home to Apples largest Data Center and Microsoft Broke Ground this Year on One of Four Planned Data Centers in Catawba County.
- Unit Mix: Attractive One-Bedroom Unit Floorplans with Exterior Balconies
- Location: Located 1.8 miles from the newly opened Appalactian State Graduate Campus and 1.5 miles from the Hickory Central Business District with Easy Accessibility to the Region's Top Economic Generators, Retail, Restaurants, Interstates, and Schools.
- Rapid Employment Growth & Affordability in the Hickory Market has Made it an Attractive Market for Investors: Hickory's proximity and easy accessibility to Charlotte has driven substantial growth within the market. This growth and affordability when compared to other cities in the Carolina's has made it an attractive market for investors looking to acquire assets in the Carolina's.
Listing Price: $1,900,000
Investment Highlights
- Proven In Place Value-Add: Numerous Upside Opportunities Through Increasing Rents to Submarket Levels and Continuation of Proven In Place Value-Add Initiative
- Economic Generators: Catawba County is home to Apples largest Data Center and Microsoft Broke Ground this Year on One of Four Planned Data Centers in Catawba County.
- Unit Mix: Attractive One-Bedroom Unit Floorplans with Exterior Balconies
- Location: Located 1.8 miles from the newly opened Appalactian State Graduate Campus and 1.5 miles from the Hickory Central Business District with Easy Accessibility to the Region's Top Economic Generators, Retail, Restaurants, Interstates, and Schools.
- Rapid Employment Growth & Affordability in the Hickory Market has Made it an Attractive Market for Investors: Hickory's proximity and easy accessibility to Charlotte has driven substantial growth within the market. This growth and affordability when compared to other cities in the Carolina's has made it an attractive market for investors looking to acquire assets in the Carolina's.
Investment Overview
Marcus & Millichap is pleased to present the exclusive opportunity to acquire the Beaver Run Apartments located at 414 11th St SW, 1.8 miles from the newly opened Appalachian State Graduate Campus, in Hickory, NC. This property is comprised of 24 units, built in 2001, that include 24, one-bedroom and one-bathroom floorplans. This property offers an investor the opportunity to continue to capitalize on proven in place value-add renovations to the interior of the units and increase rents to submarket levels. The Hickory multifamily market has experienced significant growth over the last several years, fueled by its proximity to Charlotte and residents seeking an economical alternative to higher priced rental rates seen within surrounding markets. This growth is projected to continue as Hickory’s economy has been influenced by similar patterns, rapidly transforming from a smaller, separate economy to a popular Charlotte submarket alternative for manufacturing, communication, data, and logistics. As the Hickory market continues to expand and gain national investor prominence, the Beaver Run Apartments are perfectly positioned to leverage this growth opportunity moving forward.
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