1702 Newland Road
Charlotte, NC 28216
46 bd · 23 ba · 16,012 sqft · $183/sqft
Highlights
About This Home
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.
Property Details
Interior Details
- Heating
- Central
- Forced Air
- Flooring
- Carpet
- Linoleum
- Vinyl
- Vinyl
- Wood
- Roomother
- Bedroom(s)
- Bathroom(s)
- Kitchen
- Living Room
- Dining Area
- Sqftother
- 1136
- Half Bathrooms
- 0
- Window Features
- Insulated Window(s)
- Laundry Features
- Electric Dryer Hookup
- Inside
- Washer Hookup
- Other - See Remarks
- Mainlevelgarageyn
- 0
- Sqftunheatedbasement
- 0
Dwelling And Structure
- Architectural Style
- Ranch
Square Footage And Levels
- Above Grade Finished Area
- 16012
- Below Grade Finished Area
- 0
Parking And Garage
- Carport Spaces
- 0
- Parking Features
- Driveway
- On Street
- Open Parking Spaces
- 0
Exterior Features
- Roof
- Shingle
- Exterior Features
- Lawn Maintenance
- Construction Materials
- Brick Full
- Brick Partial
- Patio And Porch Features
- Covered
- Front Porch
Lot And Land
- Lot Features
- Cul-De-Sac
- Rolling Slope
- Lot Size Units
- Acres
- Lot Size Dimensions
- Irregular
Basement And Foundation
- Foundation Details
- Crawl Space
Utilities
- Sewer
- Public Sewer
- Utilities
- Electricity Connected
- Gas
- Water Source
- City
Financial Information
- Citytaxespaidto
- Charlotte
Zoning And Restrictions
- Zoningspecification
- R12 M F
Multi Unit Details
- Total Number Of Units
- 23
Listed by Jim Townsend (704-614-1474) · Latria Incorporated (704-614-1474)
Location
- Address
- 1702 Newland Road
- City
- Charlotte, NC 28216
- Community
- Lincoln Heights
Schools
- Elementary
- Bruns Avenue
- Middle
- Ranson
- High
- West Charlotte
School assignments may change. Contact the school district to confirm.
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