|Price/Rent PSF||$ 5,499,000.00|
|SQ. FT. Available||27,638|
Uptown Charlotte is the pulse of the city, considered a premier hospitality and entertainment destination with 11 million visitors annually. Not only is the area home to the Carolina Panthers and the Charlotte Hornets, but it is also filled with venues for large and small events, local dives, acclaimed restaurants, craft breweries, retail and more! Uptown Charlotte was ranked #1 of the 10 busiest submarkets for construction & growth in 2016. And for good reason, as Charlotte metro area is the 22nd largest metro area in the country and the 3rd fastest growing City in the United States. This 18 Home BFR Investment Portfolio offers residents access to great employment hubs, such as Bank of America’s Corporate Headquarters & Wells Fargo’s corporate east coast operations. As well as the Charlotte Douglas International Airport, the 5th busiest in the U.S. & 7th busiest international airport in the world. In 2016 Forbes rated Charlotte the 16th Best Place to have a business or career in America. The Charlotte metro area has been experiencing significant growth in the last 15 years, which bodes well for the continued success of this investment portfolio. Job growth in the area has seen a 5% increase year over year from 2015 to 2016. This should not be surprising considering Charlotte has the 2nd largest financial center in the U.S., as well as NASCAR’s thriving motor sports industry, and 12 of Forbes top 500 companies have their headquarter offices here in Charlotte, contributing to the $125.7 Billion GDP in 2015.
This 18 Home Attached Build For Rent (BFR) Single Family Rental Portfolio in Charlotte, NC is an investment opportunity beginning construction soon and scheduled completion date is August 2018. The rental subdivision is located just 2.5 miles east of the Uptown Charlotte submarket, also used interchangeably with Downtown Charlotte, which has experienced an explosive 107.7% rental growth rate since 2012. The Charlotte Center City area is one of the fastest growing live/work/play metro areas in the country. So close to the action these perfectly located 18 Attached Build For Rent luxury homes for rental investment feature an opportunity for Buyer to purchase homes at Certificate of Occupancy and place tenants prior to completion so the investment is immediately cash flowing. Stabilized Year I Cap Rate of 5.69% has conservatively been modeled given market rents in the area. An investor should realize significant capital growth in the next few years given proximity to Uptown Charlotte, a major University, Fortune 500 companies, and 4.5 million square feet of retail attractions accessible to Uptown residents.
This 18 Home Build For Rent (BFR) portfolio offers almost no capital expenditures for several years after occupancy. The Developer/Builder here is a seasoned Builder throughout the Southeastern United States with vast experience and is well known for quality & integrity. This BFR investment opportunity offers spacious 1640/SF & 1371/SF floor plans throughout, all 3-story homes with 2 & 3 bedroom units with 3 full baths & 1 half bath. Each home has the ability to add additional bedroom downstairs, so they can be easily converted to 3 & 4 bedroom homes. Two bed homes come with a single car garage and 3 bedroom homes come with double car garage. These savvy contemporary homes make a distinct architectural statement with sleek brickwork façade and classic exterior element finishes. The interiors come with a beautiful modern kitchen & baths and private outdoor balcony spaces off the living rooms & bedrooms. Rental rates for stabilized year 1 have been conservatively modeled between $1950-$2200 per month for these beautiful homes. Pre-Leasing can begin once homes are under construction and builder reaches Certificate of Occupancy. The first phase of homes should be delivered in Q2 of 2018, buyer can close escrow and move tenants in asap creating an immediate cash flow and return on your investment from day one!