3520 Alexandria Pike
Property Description
3CRE Advisors exclusively presents Northern Terrace, a 48-unit, six-story independent living asset (plus basement level) totaling 77,338 SF on 1.997 acres, offered individually or alongside the adjacent Callahan Hall. Featuring uniform, highly functional two-bedroom, two-bathroom floor plans averaging 881 SF, the property presents a premier value-add investment opportunity. A focused cosmetic strategy—upgrading interior cabinetry, hardware, flooring, and finishes alongside exterior façade, landscaping, and parking improvements—positions the asset to capture rising market-rate rents. Moreover, with intact core infrastructure (ceiling-set mini-split HVAC, 3,500-amp three-phase electric, white TPO roof, poured concrete foundation) and R-3 "permitted by right" multifamily zoning, investors can execute capital improvements with low structural risk and minimal capex friction.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| No. of Units: | 48 |
| Opportunity Zone: | No |
| Property Website | Click Here |
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