Multifamily
Northridge Apartments
460 14th Ave NE, Hickory, NC 28601
Listing Price: $2,000,000
Investment Overview
Marcus & Millichap is pleased to present the exclusive opportunity to acquire the Northridge Apartments located at 460 14th Ave NE Hickory, NC, 2 miles from the Hickory Central Business District. This property is comprised of 16 units, built in 1981, that includes 16, two-bedroom and two-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 Northridge Apartments are perfectly positioned to leverage this growth opportunity moving forward.
Northridge Apartments
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
- Location: Located 2 Miles from Hickory's Central Business District with Easy Accessibility to the Region's Top Economic Generators, Retail, Restaurants, Interstates, and Schools.
- Unit Mix: Attractive Two-Bedroom Unit Floorplans with Spacious Closed in Exterior Balconies
- 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.
- 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: $2,000,000
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
- Location: Located 2 Miles from Hickory's Central Business District with Easy Accessibility to the Region's Top Economic Generators, Retail, Restaurants, Interstates, and Schools.
- Unit Mix: Attractive Two-Bedroom Unit Floorplans with Spacious Closed in Exterior Balconies
- 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.
- 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 Northridge Apartments located at 460 14th Ave NE Hickory, NC, 2 miles from the Hickory Central Business District. This property is comprised of 16 units, built in 1981, that includes 16, two-bedroom and two-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 Northridge Apartments are perfectly positioned to leverage this growth opportunity moving forward.
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