Description
This 12-unit multifamily asset presents a strong value-add investment opportunity in one of the Southeast’s most resilient rental markets. The property has already undergone partial renovation, with 5 out of 12 units fully remodeled, providing a clear path for continued upside through unit upgrades. 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.
Address
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Address: 421 Honeywood Avenue
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City: Charlotte
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State/county: NC
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Zip/Postal Code: 28216
Details
Updated on June 8, 2026 at 6:27 pm-
Property ID 4361372
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Price $1,750,000
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Property Size 10682 m²
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Bedrooms 24
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Bathrooms 12
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Year Built 1969
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Property Type Apartment, Residential Income
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Property Status Pending, For Sale
Additional details
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Listing Terms Cash, Conventional, Exchange
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Roof Architectural Shingle
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Utilities Electricity Connected
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Sewer Public Sewer
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Cooling Ductless, Window Unit(s)
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Heating Baseboard, Ductless
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Flooring Vinyl, Wood
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County Mecklenburg
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Property Type Residential Income
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Parking Parking Space(s)
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Elementary School Unspecified
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Middle School Unspecified
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High School Unspecified
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Down Payment
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Loan Amount
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Monthly Mortgage Payment
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Property Tax
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Home Insurance
Contact Information
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