HRC Partners, LLC
Listed by HRC Partners, LLC
$2,550,000
Karen Court Apartments
Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 9,250
Units 12
Beds 2
Cap Rate 6.24%
NOI $159,168
Occupancy 100%
Tenancy Multi
Year Built 1972
Year Renovated 2023, 2025
Buildings 2
Acreage 0.878
Zoning R-7
Parking Spaces spaces
Investment Type Value Add
Sale Condition N/A
Multifamily | 6.24% CAP | 12 Units
Marketing description
Rare opportunity to acquire a 100% occupied 12-unit apartment community in the highly desirable Pineville, NC market community consisting of 4 two-bedroom units and 8 one-bedroom units. The property has benefited from major capital improvements and offers investors immediate cash flow with significant upside potential.
Ownership has successfully increased rents on six units, while the remaining six units provide a clear value-add opportunity through future rent growth. Conveniently located near Charlotte's major employment centers, shopping, and transportation corridors, this asset combines stable income with long-term appreciation potential.
PLEASE DO NOT DISTURB TENANTS
Investment highlights
- Major Capital Improvements Completed
- 100% Occupied
- Strong In-Place Cash Flow
- Value-Add Opportunity
- 6 Units Remaining for Rent Increases
- Prime Pineville Location
Listing Contacts
HRC Partners, LLC
Listed by HRC Partners, LLC
Valuation Calculator
Login or Sign up to see Valuation Metrics
Sign up for Crexi to see valuation metrics for this property
Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$159,168.00
$13,264.00/mo
Valuation Metrics
0
DSCR
6.24%
Cap Rate
6.24%
ROI
Map
Broker Selected Comps View More Comps
Property History
Tax History
Similar Properties
Additional Information
Name
License
Brokerage
Brokerage Phone
Title
Is there information that looks off?
