421 Honeywood AVE Charlotte, NC 28216
24 Beds
12 Baths
10,682 SqFt
UPDATED:
Key Details
Property Type Condo
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Square Footage 10,682 sqft
Price per Sqft $163
MLS Listing ID 4361372
Bedrooms 24
Full Baths 12
Abv Grd Liv Area 10,682
Year Built 1969
Lot Size 0.940 Acres
Acres 0.94
Property Sub-Type Apartment
Property Description
Recent leasing activity supports the repositioning strategy, with the latest lease achieving $1,500/month, indicating strong rental demand and the potential to push rents across the remaining units.
Charlotte continues to experience sustained population growth, job expansion, and housing demand, making it a highly attractive market for multifamily investors. The combination of in-place income, proven rent comps, and remaining renovation upside positions this asset for both cash flow growth and long-term appreciation.
Investment Highlights:
12-unit multifamily property
5 renovated units completed
Proven rent benchmark at $1,500/month
Significant remaining value-add potential
Located in a high-growth rental market
Opportunity to increase NOI through continued upgrades
This is an ideal opportunity for an investor seeking a partially stabilized asset with immediate upside in a strong Charlotte submarket.
Location
State NC
County Mecklenburg
Zoning N2-B
Interior
Heating Baseboard, Ductless
Cooling Ductless, Window Unit(s)
Flooring Vinyl, Wood
Appliance Bar Fridge, Dishwasher, Dryer, Microwave, Refrigerator, Washer
Laundry In Kitchen
Exterior
Fence Back Yard, Privacy, Wood
Utilities Available Electricity Connected
Roof Type Architectural Shingle
Street Surface Asphalt,Paved
Garage false
Building
Dwelling Type Site Built
Foundation Slab
Sewer Public Sewer
Water City
Structure Type Brick Partial,Vinyl
New Construction false
Schools
Elementary Schools Unspecified
Middle Schools Unspecified
High Schools Unspecified
Others
Pets Allowed Yes
Senior Community false
Acceptable Financing Cash, Conventional, Exchange
Listing Terms Cash, Conventional, Exchange
Special Listing Condition None