Listing by: Jim Townsend, Latria Incorporated, jim@townsendrealtygroup.com

46 Beds

23 Full baths

16,012SqFt

Closed

ATTENTION INVESTORS! Here's your chance to own a turn-key 23 unit apartment complex in Charlotte, NC. Lincoln Heights Apartments consists of 14 buildings on a 2.01 acre cul-de-sac. Located in an Opportunity Zone (for those interested in tax advantages), this area near Uptown Charlotte is prime for future development. While currently enjoying great cash flow, there is still more post-covid opportunities to increase rents. Each unit consists of 2 bed / 1 bath and is individually metered so tenants pay for their own gas, electric, and water utilities. Owner is responsible for nominal Duke Energy outside lighting and city sewer expenses. Roofs were replaced in 2012 with 30-year architectural shingles. New vinyl windows were installed in 2020-21. Most units (19 of 23) have also been gently updated within the last 24 months. Adjacent to I-77 and just minutes from Uptown, buy and hold until the next big development push and/or reposition these class C apartments for even higher rents.

Property Details
Price $3,000,000
Close Price $3,000,000
Bedrooms 46
Full Baths 23
Half Baths 0
Property Style Ranch
Lot Size irregular
Lot Size Area 2.012
Lot Size Area Units Acres
Property Type MultiFamily
Sub type Apartment
MLS Sub type Apartment
Stories 1
Exterior Features Lawn Maintenance
Year Built 1964
Subdivision Lincoln Heights
Roof Shingle
Heating Central, Forced Air
Foundation Crawl Space
Lot Description Cul-De-Sac, Rolling Slope
Laundry Features Electric Dryer Hookup, Inside, Washer Hookup, Other - See Remarks
Parking Description Driveway, On Street
Garage spaces 0
Geographic Data
County Mecklenburg
Latitude 35.264077
Longitude -80.844334
Address Information
Address 1702 Newland Road, Charlotte, NC 28216
Postal Code 28216
City Charlotte
State NC
Country United States
Listing Information
Listing Office Latria Incorporated
Listing Office Phone 704-614-1474
Listing Agent Jim Townsend
Listing Agent Phone 704-614-1474
Sub Agency Compensation Type %
Buyer Agency Compensation 2
Attribution Contact jim@townsendrealtygroup.com
Sub Agency Compensation 0
Buyer Agency Compensation Type %
Compensation Disclaimer The offer of compensation is made only to participants of the MLS where the listing is filed.
Special listing conditions Subject to Lease
Terms Cash, Conventional, Exchange
School Information
Elementary School Bruns Avenue
Middle School Ranson
High School West Charlotte
MLS Information
Days on market 0
MLS Status Closed
Listing Date Dec 27, 2023
Listing Last Modified Feb 15, 2024
Tax ID 077-061-10
MLS # CAR4095808

Map View


Listings courtesy of Canopy MLS as distributed by MLS GRID.

Based on information submitted to the MLS GRID as of 2025-07-06T20:08:24.753058Z. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.

The Digital Millennium Copyright Act of 1998, 17 U.S.C. § 512 (the “DMCA”), provides recourse for copyright owners who believe that material appearing on the Internet infringes their rights under U.S. copyright law. If you believe in good faith that any content or material made available in connection with our website or services infringes your copyright, you (or your agent) may send us a notice requesting that the content or material be removed, or access to it blocked. Notices must be sent in writing by email to: info@cbbh.com.

“The DMCA requires that your notice of alleged copyright infringement include the following information: (1) description of the copyrighted work that is the subject of claimed infringement; (2) description of the alleged infringing content and information sufficient to permit us to locate the content; (3) contact information for you, including your address, telephone number and email address; (4) a statement by you that you have a good faith belief that the content in the manner complained of is not authorized by the copyright owner, or its agent, or by the operation of any law; (5) a statement by you, signed under penalty of perjury, that the information in the notification is accurate and that you have the authority to enforce the copyrights that are claimed to be infringed; and (6) a physical or electronic signature of the copyright owner or a person authorized to act on the copyright owner’s behalf. Failure to include all of the above information may result in the delay of the processing of your complaint.