Investment Overview

Marcus & Millichap is pleased to present the exclusive opportunity to acquire the Hawksridge Apartments located at 239 13th Ave Pl NW, in Hickory, NC. Comprised of 26 units, built in 1982, the community has an attractive unit mix with a variety of two-bedroom floorplans in a premier location within the Hickory submarket. The unit mix includes Fifteen, two-bedroom and one-and-one-half-bathroom floorplans, Nine, two-bedroom and one-and-one-half-bathroom floorplans with a basement and garage, and Two, two-bedroom and one-bathroom units. This community offers an investor the opportunity to continue to capitalize on proven in place value-add renovations to the interior of the units in the rapidly growing market. 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 Hawksridge Apartments are perfectly positioned to leverage this growth opportunity moving forward.