12-Unit Apartment
New
For Sale
$1,275,000
2416 Julia Avenue, Charlotte, NC 28206
Standalone two-bedroom homes have separate utility meters and individual residential layouts.
Property Size8,400 SF
Price / SF$151.79
Days on Market2
Property Features for 2416 Julia Avenue
General Information
Standard status
Active
Size
8,400 SF
Property subtype
Residential Income
Site & Location
Neighborhood
North Inner
Utilities to Site
Yes
Units
Unit Mix
12 x 2BR/1BA
Multifamily Units
12
Individually Metered Utilities
all utilities
Amenities
No
24
Outside
8400
City
0.975
Parking Lot
Asphalt,Paved
Crawl Space
Publicly Maintained Road
Building Details
Building Size
8,400 SF
Year Built
1965
Listing Agency:
(336) 815-4940
Listed By:
Amber Johnson
Source:
Makethemoverealty
Added: Oct 29
Last Checked: Oct 29 at 11:39AM
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 Amber Johnson
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Investment Insights
Based on property information with market context.
The 8,400-square-foot apartment property contains 12 detached homes, each configured with two bedrooms and one bathroom. Heating is provided by baseboard units, with window air conditioning. Built in 1965, the community has eight occupied units; the remaining homes are vacant. Utilities are individually metered for each residence.
Key Highlights
- 12 detached 2BR/1BA homes
- 8,400 square feet of property area
- Eight of 12 units occupied
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$101,638
Cap Rate
7.97%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,032,760
$2.0M
Cap Rate 7%
$1,451,971
$1.5M
Cap Rate 9%
$1,129,311
$1.1M
Market Conditions
NOI Build-Up for 8,400 SF
Gross rent
$195.6K $23.28/SF
− Vacancy
−$10.8K −$1.28/SF
EGI
$184.8K $22.00/SF
− OpEx
−$83.2K −$9.90/SF
NOI
$101.6K $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 Rate 5%
$2,032,760
Cap Rate 7%
$1,451,971
Cap Rate 9%
$1,129,311
Alternative Uses
Best Use
Apartment 5plus
$1.45M
$1.27M – $1.69M
NOI $101,638 @ 7.0% cap · market cap 7.97%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.80M
$2.45M – $3.26M
NOI $195,805 @ 7.0% cap · market cap 15.36%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
12
Residential units
Yes
Utilities to site
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Standalone two-bedroom homes have separate utility meters and individual residential layouts.
Where is this apartment building located?
The property is located at 2416 Julia Avenue Charlotte, NC.
What is the asking price?
The asking price for this property is $1,275,000.
What are key features of this property?
This property features: 12 detached 2BR/1BA homes; 8,400 square feet of property area; Eight of 12 units occupied
