NoDa Quad

1121 N Myers St,
Charlotte, NC 28206

 

$1,550,000
Price
4
Number of Units
$387,500
Price Per Unit
2,494
Building SF
4.72%
Cap Rate
10,149
Land SF
$1,550,000
Price
4
Number of Units
$387,500
Price Per Unit
2,494
Building SF
4.72%
Cap Rate
10,149
Land SF

  • We are pleased to present a distinguished investment opportunity in the thriving NoDa district of Charlotte, NC. Making the list for "19 Hottest AirBnB's in Charlotte NC" (TripstoDiscover.com) This meticulously managed four-unit multifamily quadplex offers a compelling proposition for discerning investors and visionary developers alike. Our holistic approach takes into account the prevailing market trends and the neighborhood's upward trajectory. As the area continues its journey of appreciation, the concept of bulldozing for new income-producing ventures is a prudent consideration for the future. Our intuitive insight suggests that this property holds the promise of becoming a cornerstone for refined urban living in NoDa.

Property Highlights

  • Prime Location: Nestled within the dynamic NoDa neighborhood, this quadplex is strategically situated to leverage the district's burgeoning growth and development.
  • Revenue Potential: Demonstrating its profitability, the property currently generates an impressive average monthly revenue of approximately $9.5K through short-term rentals.
  • Expansion Possibilities: The expansive lot provides ample space for potential expansion or innovative redevelopment, ensuring the property's adaptability to evolving market trends.
  • Strategic Enhancement: Our comprehensive approach to management highlights the potential for increased occupancy rates and enhanced rental returns through targeted upgrades.

Flourishing Urban Lifestyle in NoDa

  • Nestled within the vibrant NoDa district of Charlotte, this quadplex enjoys proximity to a wealth of attractions, making it a prime destination for both residents and visitors. Optimist Hall: A stone's throw away from the renowned Optimist Hall, an expansive food hall and entertainment complex, providing an eclectic mix of dining, shopping, and cultural experiences.

Location Highlights

  • The property is located in the highly desirable neighborhood of NoDa in Charlotte, NC, known for its vibrant arts and entertainment scene. It is a hub for local artists, musicians, and performers, with various art galleries, live music venues, theaters, and festivals taking place throughout the year.
  • NoDa is home to a wide range of trendy restaurants, bars, and cafes, catering to diverse culinary tastes. Notable establishments include Cabo Fish Taco, Smelly Cat Coffeehouse, and Heist Brewery, offering a mix of international cuisines, craft beers, and specialty coffee.
  • The neighborhood offers a plethora of recreational opportunities, with several parks and green spaces nearby. The North Davidson Park is a popular spot for residents to enjoy outdoor activities such as picnicking, walking trails, and community events. Additionally, the nearby Cordelia Park features a playground, basketball courts, and a swimming pool.
  • NoDa is well-connected to other parts of Charlotte, with convenient access to major highways like I-85 and I-77. The Lynx Blue Line light rail station is within walking distance, providing easy transportation options for residents and visitors alike.
  • The area has experienced significant growth and revitalization in recent years, with numerous new residential developments, including apartments and townhomes, being built. This indicates a strong demand for housing in the neighborhood, which can potentially benefit the property's rental potential and overall value.
FOR MORE DETAILS CONTACT
Jim Pryor
Managing Partner
(704) 620-8745
jim@ardorcre.com
NC 300373 SC 105555
Thomas Lewis
Multi-Family Advisor
(980) 347-9229
tlewis@ardorcre.com
339469
Jack McDermott
Multi-Family Advisor
(704) 420-4031
jmcdermott@ardorcre.com
NC#322616