|Price/Rent PSF||$ 19,400,000.00|
|SQ. FT. Available||149,500|
Charlotte metro area is the 22nd largest metro area in the country and the 3rd fastest growing City in the United States, offering residents in this 97 BFR Investment Portfolio 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 worlds 23rd busiest airport. 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 97 Home BFR in Charlotte, NC is a Build For Rent (BFR) investment opportunity consisting of 97 Build For Rent (BFR) Attached Single Family Residential Rental investment properties beginning construction on 1st Phase in January 2018. The rental subdivision is located just 5 miles northeast of Downtown Charlotte and 5.9 miles southwest of University of North Carolina. These quality new build homes for rental investment features 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 6.47% 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 Downtown Charlotte, a major University, and 3 miles north of a new LYNX Blue Line Light Rail Extension.
This 97 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 floor plans throughout, all with 3-story 3 bed & 4 bed units & 2.5 baths. A majority(80%) come with single car garages. Finished with brick, shingle and vinyl exterior cladding, granite kitchen and bathroom counter tops, stainless steel appliances, chrome tapware, and carpet bedrooms. Rental rates for stabilized year 1 have been conservatively modeled at $1510 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 Q3 of 2018, buyer can close escrow and move tenants in asap creating an immediate cash flow and return on your investment from day one!
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