Charlotte, NC 28216,1702 Newland RD
Charlotte, NC 28216,1702 Newland RD
Charlotte, NC 28216,1702 Newland RD
34
$2,925,000
$3,000,000
2.5%
Est.Price: ?

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46 BD
23 BA
16,012 SqFt

1702 Newland RD Charlotte, NC 28216

Est. payment /mo
SOLD DATE : 02/15/2024

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Key Details

Sold Price $2,925,000

Property Type Condo

Sub Type Apartment

Listing Status Sold

Purchase Type For Sale

Square Footage 16,012 sqft

Price per Sqft $182

Subdivision Lincoln Heights

MLS Listing ID 4095808

Sold Date 02/15/24

Style Ranch

Bedrooms 46

Full Baths 23

Abv Grd Liv Area 16,012

Year Built 1964

Lot Size 2.012 Acres

Acres 2.012

Lot Dimensions irregular

Property Description

ATTENTION INVESTORS! Here's your chance to own a turn-key 23 unit apartment complex in Charlotte, NC. Lincoln Heights Apartments consists of 14 buildings on a 2.01 acre cul-de-sac. Located in an Opportunity Zone (for those interested in tax advantages), this area near Uptown Charlotte is prime for future development. While currently enjoying great cash flow, there is still more post-covid opportunities to increase rents. Each unit consists of 2 bed / 1 bath and is individually metered so tenants pay for their own gas, electric, and water utilities. Owner is responsible for nominal Duke Energy outside lighting and city sewer expenses. Roofs were replaced in 2012 with 30-year architectural shingles. New vinyl windows were installed in 2020-21. Most units (19 of 23) have also been gently updated within the last 24 months. Adjacent to I-77 and just minutes from Uptown, buy and hold until the next big development push and/or reposition these class C apartments for even higher rents.

Location

State NC

County Mecklenburg

Zoning R12MF

Interior

Heating Central, Forced Air

Cooling Varies by Unit

Flooring Carpet, Linoleum, Vinyl, Vinyl, Wood

Fireplace false

Appliance Electric Oven, Electric Water Heater, Gas Water Heater, Refrigerator

Exterior

Exterior Feature Lawn Maintenance

Utilities Available Electricity Connected, Gas

Roof Type Shingle

Parking Type Driveway, On Street

Garage false

Building

Lot Description Cul-De-Sac, Rolling Slope

Foundation Crawl Space

Sewer Public Sewer

Water City

Architectural Style Ranch

Structure Type Brick Full,Brick Partial

New Construction false

Schools

Elementary Schools Bruns Avenue

Middle Schools Ranson

High Schools West Charlotte

Others

Senior Community false

Acceptable Financing Cash, Conventional, Exchange

Listing Terms Cash, Conventional, Exchange

Special Listing Condition Subject to Lease

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Listed by Jim Townsend • Latria Incorporated • jim@townsendrealtygroup.com
Bought with Grainger Gilbert • Fathom Realty

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Roshan Bhula

Broker | License ID: NC 321676, SC 128724

+1(704) 904-0480

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