3516 The PlzCharlotte, NC 28205

Property Details for 3516 The Plz

Year built

1940

Lot size

0.85 AC

Property type

Residential income homes

Description

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.

Location Insight

City

Charlotte

County

Mecklenburg

State

North Carolina

Latitude

35.2436

Longitude

-80.7941

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