10-Unit Townhome-Style Apartment
New
For Sale
$1,500,000
2336 Julia Ave, Charlotte, NC 28206
Multifamily property with two-bedroom layouts, private townhome-style configuration, and proximity to Charlotte employment and entertainment districts.
Property Size9,180 SF
Price / SF$163.40
Days on Market3
Property Features for 2336 Julia Ave
General Information
Standard status
Active
Size
9,180 SF
Property subtype
Multi-Family
Occupancy
90%
Units
Unit Mix
10 x 2BR/1.5BA
Multifamily Units
10
Building Details
Year Built
1965
Listing Agency:
Britt Commercial Real Estate, LLC
Listed By:
Zach Britt · License #315119
(615) 971-1553
Source:
Highperformancerea
Added: Sep 9
Changed: Sep 10
Last Checked: Sep 10 at 2:42PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Britt Commercial Real Estate, LLC
Investment Insights
Based on property information with market context.
This 10-unit apartment property contains townhome-style residences with two bedrooms and 1.5 bathrooms per unit. Each home averages approximately 918 SF, while the property totals 9,180 SF. The configuration offers consistent unit layouts across the asset and was constructed in 1965.
Located at 2336 Julia Ave in Charlotte, the property is minutes from Camp North End and less than 10 minutes from Uptown Charlotte. Its setting places the apartments near established urban destinations and the broader activity of central Charlotte. The asset is classified as an apartment building and presents a straightforward multifamily configuration for ownership or operation.
Located at 2336 Julia Ave in Charlotte, the property is minutes from Camp North End and less than 10 minutes from Uptown Charlotte. Its setting places the apartments near established urban destinations and the broader activity of central Charlotte. The asset is classified as an apartment building and presents a straightforward multifamily configuration for ownership or operation.
Key Highlights
- 10‑unit apartment property totaling 9,180 SF
- All units feature 2BR/1.5BA townhome‑style layouts
- Average unit size is approximately 918 SF
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$111,076
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.41%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,221,520
$2.2M
Cap Rate 7%
$1,586,800
$1.6M
Cap Rate 9%
$1,234,178
$1.2M
Market Conditions
NOI Build-Up for 9,180 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$213.7K $23.28/SF
− Vacancy
−$11.8K −$1.28/SF
EGI
$202.0K $22.00/SF
− OpEx
−$90.9K −$9.90/SF
NOI
$111.1K $12.10/SF
Area
Charlotte, NC
Vacancy
5.50%
Lease Rate
$23.28 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,221,520
Cap Rate 7%
$1,586,800
Cap Rate 9%
$1,234,178
Alternative Uses
Best Use
Apartment 5plus
$1.59M
$1.39M – $1.85M
NOI $111,076 @ 7.0% cap · market cap 7.41%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.06M
$2.67M – $3.57M
NOI $213,987 @ 7.0% cap · market cap 14.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
10
Residential units
90%
Occupancy
Location Intelligence
Trade Area within ½ mile
219
Businesses Nearby
Explore this area
Business Placement
Demographics for 28206, NC
14,053
Population
7,094
Households
2
Avg Household Size
33
Median Age
32%
College-Educated
83%
High-School Grad
7.0 sq mi
ZIP Area
2,008
Density / Sq Mi
$51,456
Median Household Income
$42,186
Median Earnings
$1,225
Median Rent
$239,700
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Multifamily property with two-bedroom layouts, private townhome-style configuration, and proximity to Charlotte employment and entertainment districts.
Where is this apartment building located?
The property is located at 2336 Julia Ave Charlotte, NC.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: 10‑unit apartment property totaling 9,180 SF; All units feature 2BR/1.5BA townhome‑style layouts; Average unit size is approximately 918 SF
