Pamlico Apartments- FOR SALE BY OWNER

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Address: 1300 Pamlico St, Charlotte, North Carolina, US
Created date: August 13, 2023
Date last updated: December 11, 2023

Great neighborhood lined with Million dollars homes on the same block.

Property Description

FOR SALE BY OWNER: Well-maintained property managed by an owner located in a great area. Selling due to health reasons. Rent Restriction (LIHTC), Senior complex; the restriction will end in 2029. The complex includes a laundry room, community room, and library. Each unit is 1 bedroom and 1 bath; 32 units. Buyers, please conduct your own research. I can provide further financial information as needed. Buyer's agent can contact me for their commission. The building is priced at $5,950,000.00 and the vacant land value is also added to the price. Both are in one parcel but have two different addresses: 1300 Pamlico Street and 1248 Louise Avenue ( this is the vacant land). The property is priced below the current market value due to restrictions. This is a perfect 1031 Exchange property.

Key Property Information

Listing Status: Available
Listing Type: Highest & best offer
Multifamily type: Senior Housing
Price: $5,900,000
No. of Units: 32
Cap Rate: 7%
Average Occupancy: 100.00
Year Built: 1999
Building Size: 24,360 Sq ft
Lot Size: 2.25 Sq ft
No. of Stories: 1
Zoning Code: R17
Opportunity Zone: No
Price per unit: $184,375
Address: 1300 Pamlico St

Unit mix

Description No. of Units Sq ft. Avg. Monthly Rent
All 1 Bedroom/ 1 bath 32 600.00 0.00

FINANCIAL DETAILS

Income/expense info: Actual

Additional contacts

Full name Phone number Email address
Pj Sehdev 704-904-5427 [email protected]

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