1234 Saratoga Dr Charlotte, NC 28208-2075
Property profile & analytics
1234 Saratoga Dr Charlotte, NC 28208-2075
- Garden apartment buildings
- 4,308 SF
- 1.09 lot acres
Property ID
US53-5745191
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Location Intelligence
Current Use by Public Records
- Garden apartment buildings
Property Details for 1234 Saratoga Dr
- Year built
- 1989
- Lot size
- 1.09 lot acres
- Property size
- 4,308 SF
- Zone code
- R22MF
- Property type
- Garden apartment buildings
- APN
- 6305342
- APU
- 6305342
Description
This exceptional 20-unit apartment building, situated on 1.68 acres in Charlotte, NC, presents a compelling investment opportunity. Built in 1989, the property boasts 14,500 square feet and offers a desirable mix of fifteen 2-bedroom/1-bathroom and five 3-bedroom/1-bathroom units. Currently generating a strong NOI of $143,923 and a 6.40% cap rate, the asking price is $2,250,000. Located at 1234 Saratoga Dr, 28208, this property enjoys a prime location, less than 5 miles from Uptown Charlotte and Charlotte Douglas Airport, with easy access to I-85. The property's proximity to major employment centers, retail, restaurants, and entertainment enhances its appeal to residents. Below-market rents offer significant potential for value-add through renovations and organic rent growth, promising substantial returns for the astute investor. The property's current average rent per unit is $1,022. This is a rare opportunity to acquire a well-positioned multifamily asset in a rapidly growing area of West Charlotte.
Value Estimations
based on Realmo’s proprietary methodology
-
AI approach
- Method
- Estimation
- Statistic approach
- $1,920,000
- ML approach
- $1,925,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $2,271,000
Market price range: $803k - $3.66M -
Alternative Use
- Use
- Estimation
- APARTMENT HOUSE (5+ UNITS)
- $1,925,000 Current use
- COMMERCIAL (GENERAL)
- $2,975,000 Change: +54% Conversion: Moderate
- MEDICAL BUILDING
- $1,735,000 Change: -10% Conversion: Moderate
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Charlotte
- County
- Mecklenburg
- State
- North Carolina
- Longitude
- -80.8998
- Latitude
- 35.2559
- CBSA code
- 16740
- CBSA name
- CHARLOTTE-CONCORD-GASTONIA, NC-SC METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$8,087
$363,500
$739,000
$1,102,500
-
$363,500
$739,000
$1,102,500
