For Sale
$2,500,000

3516 The PlzCharlotte, NC 28205

10-Unit Redevelopment Opportunity

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional investment opportunity presents a portfolio of ten single-family rental units situated on a 0.85-acre lot in Charlotte, North Carolina. The property, located at 3516 The Plaza, boasts 100 feet of road frontage on The Plaza and is zoned for both office and multi-family use, presenting significant redevelopment potential. Currently comprised of five duplexes, the portfolio is 90% occupied with month-to-month leases, offering immediate cash flow. Built in 1940, the existing structures require deferred maintenance; however, the true value lies in the land itself. The asking price is $2,500,000, or $250,000 per unit. Each unit includes one parking space. The sale includes four parcels: #093-051-02, #093-051-01, #093-051-14, and #093-051-17, which will be sold together. The property's strategic location in Mecklenburg County, near the intersection of The Plaza and Anderson Street, and its substantial lot size make it an ideal candidate for a variety of redevelopment projects. The listed tax value reflects the total for all parcels. This is a rare chance to acquire a significant land holding in a desirable Charlotte location.

Highlights

  • $2,500,000 asking price for a 10-unit multifamily investment opportunity in Charlotte, NC.
  • Property consists of five duplexes on a 0.85-acre lot, zoned for office and multifamily use.
  • Located at the corner of The Plaza and Anderson St, with 100 feet of road frontage on The Plaza.
  • Currently 90% occupied with month-to-month leases; requires deferred maintenance.
  • High redevelopment potential due to land value; tax value reflects all parcels included in the sale.

Property Details for 3516 The Plz

Property type
Residential income homes
Year Built
1940
Buildings
5
Stories
1
Lot Size (sq. ft)
37,026 SF
Units
10

Location Insight

City
Charlotte
County
Mecklenburg
State
North Carolina
Latitude
35.243580270455
Longitude
-80.794077163235
3516 The Plz, Charlotte, North Carolina

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3516 The Plz
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