315 Hamilton Dr | 315 Hamilton Dr NE
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315 Hamilton Dr 315 Hamilton Dr NE
8 Unit Apartment Building $1,695,000 ($211,875/Unit) 5.70% Cap Rate Concord, NC 28025
Investment Highlights
- Excellent Location
- Recently Rehabbed Units
- Town Home Style Units
Executive Summary
Excellent opportunity to acquire a recently rehabbed 8 plex near the heart of Concord. 7 of 8 units have been recently leased, with one remaining unit that is currently listed on the market for lease. Great performing income potential once all units are occupied. Turn-key Property Management Firm in place if buyer wants to continue with services. Water/sewer usage is billed back to the tenants through a sub-meter tracking system for each unit. Trash/Landscaping is Landlord cost. Electric/Water/Sewer tenant is tenant cost.
Financial Summary (Pro forma - 2024) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$125,640
|
$16.73
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$125,640
|
$16.73
|
| Net Operating Income |
-
|
-
|
Financial Summary (Pro forma - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $125,640 |
| Annual Per SF | $16.73 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $125,640 |
| Annual Per SF | $16.73 |
| Net Operating Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
Property Facts
| Price | $1,695,000 | Building Class | C |
| Price Per Unit | $211,875 | Lot Size | 0.65 AC |
| Sale Type | Investment | Building Size | 7,508 SF |
| Cap Rate | 5.70% | Average Occupancy | 88% |
| No. Units | 8 | No. Stories | 1 |
| Property Type | Multifamily | Year Built/Renovated | 1973/2024 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Townhome |
| Price | $1,695,000 |
| Price Per Unit | $211,875 |
| Sale Type | Investment |
| Cap Rate | 5.70% |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Townhome |
| Building Class | C |
| Lot Size | 0.65 AC |
| Building Size | 7,508 SF |
| Average Occupancy | 88% |
| No. Stories | 1 |
| Year Built/Renovated | 1973/2024 |
| Opportunity Zone |
Yes |
Unit Amenities
- Air Conditioning
- Dishwasher
- Heating
- Granite Countertops
- Refrigerator
- Vinyl Flooring
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1.5 | 8 | $1,323 | 939 |
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315 Hamilton Dr | 315 Hamilton Dr NE
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