22-Unit Apartment
For Sale
$3,000,000
2479 Julia Avenue, Charlotte, NC 28206
Multifamily community with completed roof, HVAC, and substantial unit improvements.
Property Size17,222 SF
Price / SF$174.20
Days on Market272
Property Features for 2479 Julia Avenue
General Information
Standard status
Active
Size
17,222 SF
Property subtype
Multi-Family
Occupancy
64%
Additional Details
Multifamily Units
22
Amenities
No
47
In Unit
17222
City
2.28
Parking Lot
Asphalt,Paved
Crawl Space
Publicly Maintained Road
Building Details
Building Size
17,222 SF
Year Built
1960
Listing Agency:
Keller Williams Mtn Partners, LLC
(864) 226-8100
Listed By:
Jessica Brock
(352) 562-1108
Source:
Cdanjoyner
Added: Jan 22
Changed: Oct 21
Last Checked: Oct 20 at 6:29PM
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 Keller Williams Mtn Partners, LLC
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Investment Insights
Based on property information with market context.
This 22-unit apartment property combines completed capital work with additional leasing upside. The community is approximately 64% occupied, and most apartments have been renovated. Vacant units are largely rent-ready, while the clubhouse/SFR unit and one additional apartment remain unrenovated. Improvements include new roofs, updated HVAC systems, and extensive interior renovations across the unit inventory.
The clubhouse dates to 1940, while the apartment buildings were constructed in 1960. The property is located in North Charlotte near Camp North End and within a 10-minute drive of Uptown Charlotte. Its existing improvements, current occupancy, and remaining renovation scope provide a clear picture of the physical condition and leasing status.
The clubhouse dates to 1940, while the apartment buildings were constructed in 1960. The property is located in North Charlotte near Camp North End and within a 10-minute drive of Uptown Charlotte. Its existing improvements, current occupancy, and remaining renovation scope provide a clear picture of the physical condition and leasing status.
Key Highlights
- 22‑unit multifamily community
- Approximately 64% occupied
- Most apartment units renovated
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$208,382
Cap Rate
6.95%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,167,640
$4.2M
Cap Rate 7%
$2,976,886
$3.0M
Cap Rate 9%
$2,315,356
$2.3M
Market Conditions
NOI Build-Up for 17,222 SF
Gross rent
$400.9K $23.28/SF
− Vacancy
−$22.1K −$1.28/SF
EGI
$378.9K $22.00/SF
− OpEx
−$170.5K −$9.90/SF
NOI
$208.4K $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%
$4,167,640
Cap Rate 7%
$2,976,886
Cap Rate 9%
$2,315,356
Alternative Uses
Best Use
Apartment 5plus
$2.98M
$2.60M – $3.47M
NOI $208,382 @ 7.0% cap · market cap 6.95%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.73M
$5.02M – $6.69M
NOI $401,447 @ 7.0% cap · market cap 13.38%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
22
Residential units
64%
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
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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 - Multifamily community with completed roof, HVAC, and substantial unit improvements.
Where is this apartment building located?
The property is located at 2479 Julia Avenue Charlotte, NC.
What is the asking price?
The asking price for this property is $3,000,000.
What are key features of this property?
This property features: 22‑unit multifamily community; Approximately 64% occupied; Most apartment units renovated
