1702 Newland Rd

Charlotte, NC 28216

$2,925,000
Last Sold Price
46
Beds
16,012 Sq. Ft.
$183 / Sq. Ft.
16,012
Sq. Ft.
$183
per Sq. Ft.
Get preapproved with Rocket Mortgage1
Closed 2/15/24
Closed 2/15/24
a picture of a rug
a view of a park with trees
a view of a backyard with large trees
a view of road with a barbeque and large trees
a view of a door and an outdoor space
an empty room with wooden floor and windows
an empty room with wooden floor and windows
an empty room with wooden floor and windows
a bathroom with a sink toilet and window
a close view of sink
a view of small space with wooden floor
a view of a small space with wooden floor and a window
an empty room with wooden floor and windows
an empty room with wooden floor and windows
an empty room with wooden floor
a view of a door and an umbrella
an entryway with wooden floor and a window
a bathroom with a toilet and a bathtub
a view of a room with wooden floor and window
a view of an empty room with wooden floor and a window
a view of hallway with closet and wooden floor
a kitchen with a sink cabinets and window
an empty room with wooden floor and window
a view of a hallway with wooden floor
a bathroom with a sink and a toilet
a view of a room has wooden floor and windows
a view of an empty room with wooden floor and a window
a view of a small space
a kitchen with white cabinets and white appliances
a view of an empty room with wooden floor

Description

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...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.
  1. Listed by Jim Townsend • Latria Incorporated
    P: (704)-614-1474 C: (704)-614-1474 jim@townsendrealtygroup.com

Property Details for 1702 Newland Road

Architectural Style
Ranch
Parking Features
Driveway, On Street
Subdivision Name
Lincoln Heights
LISTING UPDATED: 02/15/2024 05:32 PM

Property Details for 1702 Newland Road

StatusClosed
MLS #4095808
Days on Market1
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income / Apartment
Year Built1964
Lot Size2.01 AC / 87,642 SF
CountyMecklenburg County
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Location

Listing Courtesy of Latria Incorporated

Sold By Fathom Realty

Add your commute

Building Information for 1702 Newland Road

Stories-Residences-Year Built1964Building Size-Lot Size2.01 AC / 87,642 SF

Payment Calculator

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$16,232 per month

30 year fixed, 6.46% Interest

Principal and Interest

$14,729

Property Taxes

$1,503

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

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Property Information for 1702 Newland Road

Summary
Location and General Information
  • Longitude: -80.844334
  • Zoning: R12MF
  • Latitude: 35.264077
Taxes and HOA Information
  • HOA Subject To: None
  • Tax Assessed Value: $1,869,600.00
  • Parcel Number: 077-061-10
  • City Taxes Paid To: Charlotte
School Information
  • Middle Or Junior School: Ranson
  • High School: West Charlotte
  • Elementary School: Bruns Avenue
Parking
  • Parking: Open Spaces: 0.0
  • Parking: Open Parking YN: No
  • Parking: Carport Spaces: 0.0
  • Parking: Carport YN: No
  • Garage Spaces: 0.0
  • Garage YN: No
  • Garage Main Level YN: No
  • Parking: Assigned Spaces: 0
Property
Lot Information
  • Above Grade Finished Area: 16012.0
  • Below Grade Finished Area: 0.0
  • Sq Ft Unheated Basement: 0
  • Sq Ft Other: 1136.0
  • Lot Features: Cul-De-Sac, Rolling Slope
  • Lot Size Dimensions: irregular
  • Lot Size Units: Acres
  • Property Type: Residential Income
  • Property Sub Type Additional: Garden
Property and Assessments
  • Geocode Confidence: High
  • New Construction YN: No
  • Photos Count: 34
  • Road Responsibility: Publicly Maintained Road
  • Construction Type: Site Built
  • Assumable: No
  • Senior Community YN: No
Utilities
  • Sewer: Public Sewer
  • Utilities: Electricity Connected, Gas
  • Water Source: City
Interior and Exterior Features
Exterior Features
  • Exterior Features: Lawn Maintenance
  • Construction Materials: Brick Full, Brick Partial
  • Patio And Porch Features: Covered, Front Porch
  • Road Surface Type: Asphalt, Paved
  • Roof: Shingle
Interior Features
  • Appliances: Electric Oven, Electric Water Heater, Gas Water Heater, Refrigerator
  • Cooling: Varies by Unit
  • Heating: Central, Forced Air
  • Laundry Features: Electric Dryer Hookup, Inside, Washer Hookup, Other - See Remarks
  • Fireplace YN: No
  • Window Features: Insulated Window(s)
  • Flooring: Carpet, Linoleum, Vinyl, Wood
  • Foundation Details: Crawl Space
  • Basement YN: No
  • Stories: 1
Multi Family
Multi-Family Information
  • Unit Type: 2 Bedroom
  • Unit Room Type: Kitchen, Living Room, Bedroom(s), Bathroom(s), Dining Area
  • Number Of Units Total: 23
Rental
Rent Information
  • Tenant Pays: All Utilities
  • Pets Allowed: No

Property History for 1702 Newland Road

DateEvent & SourcePriceAppreciation
Feb 15, 2024

Closed

CANOPY #4095808

$2,925,000—
Dec 27, 2023

Listed (Active)

CANOPY #4095808

$3,000,000—
Nov 28, 2007

Closed

CANOPY #706621

$700,000—
Nov 28, 2007

Under Contract-No Show

CANOPY #706621

—
Aug 21, 2007

Listed (Active)

CANOPY #706621

$736,000—
DateEvent & SourcePrice
02/15/2024

Closed

CANOPY #4095808

$2,925,000
12/27/2023

Listed (Active)

CANOPY #4095808

$3,000,000
11/28/2007

Closed

CANOPY #706621

$700,000
11/28/2007

Under Contract-No Show

CANOPY #706621

—
08/21/2007

Listed (Active)

CANOPY #706621

$736,000

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 1702 Newland Road

Taxable ValueLand$399,100Additions$1,470,500Total$1,869,600
Tax Record2023$18,042 ($1,503 / month)
Home Facts
Total Finished SqFt2,092 SqFtAbove Grade Finished SqFt2,092 SqFtStories1Lot Size87,817 SqFtStyleMulti-Family Dwelling (2-4)Year Built1964ZoningR12MFCountyMECKLENBURGAPN07706110Fireplace TypeHas Fireplace

Schools near 1702 Newland Road

This home is within Charlotte-Mecklenburg School District.
Rating
School
Type
Grades
Distance
Bruns Avenue Elementary
Public - PK to 5
Ranson Middle
Public - 6 to 8
West Charlotte High
Public - 9 to 12
New Secondary Montessori @ Jt Williams
Public - 7 to 12
Rating
School
Distance
Bruns Avenue Elementary
PublicPK to 5

Ranson Middle
Public6 to 8

West Charlotte High
Public9 to 12

New Secondary Montessori @ Jt Williams
Public7 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass, Inc., its subsidiaries, affiliates and their agents and associated third parties expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Latria Incorporated

Based on information submitted to the MLS GRID as of 02/15/2024 05:32 PM. 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. Properties displayed may be listed or sold by various participants in the MLS. IDX information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data is deemed reliable but is not guaranteed by MLS GRID. Use of the MLS GRID data may be subject to an end user license agreement prescribed by the applicable MLS of the Member Participant, if any, and as amended from time to time.