University Northside Apartments
About This Property for Sale
Marketing description
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.
Investment highlights
- Water Metering Billback: Billback program launched May 15, eliminating out-of-pocket utility expenses for ownership.
- Existing Tax Abatement: Opportunity to benefit from an in-place tax abatement that may help reduce carrying costs and support cash flow.
- Diverse Unit Mix: Studio, one-bedroom, and two-bedroom floorplans appeal to a broad tenant base.
- 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.
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