Closed

$1,187,500

1704-1732 Newland Rd, Charlotte, NC 28216

16beds

5,568sqft

Multi Family

Built in 1962

-- sqft lot

$1,158,700 Zestimate^®

$213/sqft

$1,258 Estimated rent

Home value

$1,158,700

$1.03M - $1.31M

$1,258/mo

Zestimate^® history

Owner options

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$1,258/mo

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$1,258/mo

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$7,027/mo

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$7,027/mo

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What's special

8 identical income producing side-by-side single family units (sold as an 8-plex) on a corner lot with over an acre in the well known up and coming Lincoln Heights community! 5 minutes from uptown Charlotte, close to major attractions like Bank of America Stadium, Spectrum Center, and Truist Baseball Field. Also conveniently close to Plaza Midwood, Noda, Optimist Hall.. All roofs replaced in 2012, all new low-e windows (with exception of unit 1732) were replaced around 2018. Unit 1732 has a new HVAC installed in 2021, unit 1728 - new HVAC installed 5-6 years ago. Same tenants in all units for over 5 years, all on a month-to-month for a long time. Tenants currently pay utility bills and lawn services. Great buy and hold opportunity. The front of all units has newer paint to give a nice matching pattern. City of Charlotte charges $46 (total for all 8 units) for stormwater services. This 8-plex is also sold under RESIDENTIAL on the MLS# 4159829.

Facts & features

Interior

Bedrooms & bathrooms

Bedrooms: 16
Bathrooms: 8
Full bathrooms: 8

Heating

Central, Forced Air, Natural Gas

Cooling

Central Air

Appliances

Included: Oven, Refrigerator
Laundry: Laundry Room

Features

Flooring: Carpet, Tile
Windows: Insulated Windows
Has basement: No

Interior area

Total structure area: 5,568
Total interior livable area: 5,568 sqft
Finished area above ground: 5,568
Finished area below ground: 0

Property

Parking

Total spaces: 2
Parking features: Assigned, Driveway
Uncovered spaces: 2

Features

Patio & porch: Covered
Waterfront features: None

Lot

Size: 1.19 Acres
Features: Corner Lot, Level

Details

Additional parcels included: 077-061-09
Parcel number: 07706111
Zoning: RE-5
Special conditions: Standard

Construction

Type & style

Home type: MultiFamily
Property subtype: Multi Family

Materials

Brick Full, Vinyl
Foundation: Crawl Space

Condition

New construction: No
Year built: 1962

Utilities & green energy

Sewer: Public Sewer
Water: City

Community & HOA

Community

Features: None
Subdivision: Lincoln Heights

Location

Region: Charlotte

Financial & listing details

Price per square foot: $213/sqft
Tax assessed value: $1,025,600
Date on market: 6/14/2024
Cumulative days on market: 45 days
Exclusions: N/A
Tenant pays: All Utilities
Road surface type: Concrete

Price history

Date	Event	Price
10/26/2024	Listing removed	$1,100
Source: Zillow Rentals Report a problem
10/23/2024	Listed for rent	$1,100
Source: Zillow Rentals Report a problem
8/12/2024	Sold	$1,187,500-8.6%$213/sqft
Source: Canopy MLS as distributed by MLS GRID #4150129 Report a problem
7/29/2024	Pending sale	$1,299,000$233/sqft
Source: Canopy MLS as distributed by MLS GRID #4150129 Report a problem
7/25/2024	Price change	$1,299,000-3.8%$233/sqft
Source: Canopy MLS as distributed by MLS GRID #4150129 Report a problem
6/14/2024	Listed for sale	$1,350,000$242/sqft
Source: Canopy MLS as distributed by MLS GRID #4150129 Report a problem