Multifamily
University Northside Apartments
9517 Newell Hickory Grove Rd, Charlotte, NC 28215
Listing Price: $4,250,000
Investment Overview
Marcus & Millichap is pleased to present University Northside Apartments, a 29-unit multifamily community situated on approximately 1.72 acres. Built in 1989, the property offers a desirable mix of studio, one-bedroom, and two-bedroom floorplans, appealing to a broad tenant base. The low-density layout provides ample green space and a neighborhood-style setting, which continues to resonate with renters seeking affordability and convenience.
The asset presents a stable investment opportunity with the potential for incremental revenue growth through interior upgrades and improved operational efficiencies. University Northside is ideally positioned within the University submarket of Charlotte, one of the city's fastest-growing and most dynamic areas. Supported by the presence of UNC Charlotte and a strong employment base, the submarket continues to benefit from population growth and consistent rental demand.
University Northside Apartments
Investment Highlights
- Water Metering Billback: Billback program launches May 15, eliminating out-of-pocket utility expenses for ownership.
- Existing Tax Abatement: In-place tax abatement materially reduces carrying costs and supports stable cash flow.
- Diverse Unit Mix: Studio, one-bedroom, and two-bedroom floorplans appeal to a broad tenant base.
- Value-Add Upside: Strategic interior renovations offer a clear path to rental rate growth.
- University Submarket: Positioned in one of Charlotte's fastest-growing submarkets near UNC Charlotte.
- Charlotte Fundamentals: Sustained in-migration, job growth, and a diverse, expanding economy.
Listing Price: $4,250,000
Investment Highlights
- Water Metering Billback: Billback program launches May 15, eliminating out-of-pocket utility expenses for ownership.
- Existing Tax Abatement: In-place tax abatement materially reduces carrying costs and supports stable cash flow.
- Diverse Unit Mix: Studio, one-bedroom, and two-bedroom floorplans appeal to a broad tenant base.
- Value-Add Upside: Strategic interior renovations offer a clear path to rental rate growth.
- University Submarket: Positioned in one of Charlotte's fastest-growing submarkets near UNC Charlotte.
- Charlotte Fundamentals: Sustained in-migration, job growth, and a diverse, expanding economy.
Investment Overview
Marcus & Millichap is pleased to present University Northside Apartments, a 29-unit multifamily community situated on approximately 1.72 acres. Built in 1989, the property offers a desirable mix of studio, one-bedroom, and two-bedroom floorplans, appealing to a broad tenant base. The low-density layout provides ample green space and a neighborhood-style setting, which continues to resonate with renters seeking affordability and convenience. The asset presents a stable investment opportunity with the potential for incremental revenue growth through interior upgrades and improved operational efficiencies. University Northside is ideally positioned within the University submarket of Charlotte, one of the city's fastest-growing and most dynamic areas. Supported by the presence of UNC Charlotte and a strong employment base, the submarket continues to benefit from population growth and consistent rental demand.
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