56 Beds
42 Baths
28,000 SqFt
56 Beds
42 Baths
28,000 SqFt
Key Details
Property Type Condo
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Square Footage 28,000 sqft
Price per Sqft $151
MLS Listing ID 4388531
Bedrooms 56
Full Baths 28
Half Baths 28
Abv Grd Liv Area 28,000
Year Built 1973
Lot Size 1.870 Acres
Acres 1.87
Property Sub-Type Apartment
Property Description
$1.4M IN RECENT CAPITAL IMPROVEMENTS - A property-wide renovation completed in 2025 addressed every major component— exterior and interior — with no near-term capital requirements for a new owner. Improvements include: New parking lot overlay, exterior paint, gutters & downspouts, full HVAC replacement across all units, new windows, sliding glass doors, and smart lock front doors. Add'l Interior upgrades: new cabinets and shelving, granite countertops and backsplash, luxury vinyl plank flooring, and stainless steel appliances. The property also has recently implemented individual water/sewer sub-metering, eliminating a significant landlord expense, and a bundled cable & internet package, generating incremental NOI while offering a convenient service.
PROVEN RENT GROWTH WITH REMAINING UPSIDE - The seller's post-renovation lease-up strategy has produced a current averagein-place rent of $1,314/month, with rents ranging from $1,275 to $1,440 across the property. The $165 spread between the lowest and highest in-place rents— achieved within the same renovated unit type — demonstrates clear market acceptance at the top of the range. A new owner has a straightforward path to capture loss-to-lease as below-market leases roll, with no speculative assumptions required.
MAIN & MAIN LOCATION - The Property sits one block from the heart of downtown Mount Holly — home torestaurants, coffee shops, breweries, and the Carolinas' oldest legal distillery. Convenient access to I-485 connects residents to Uptown Charlotte, Gastonia, and major employment corridors throughout the MSA. Notably, the Olde Mecklenburg Brewery is opening a Beer Garden and Tap Room in downtown Mount Holly in Fall 2026, with planned mixed-use development and an extensive renovation of Veterans Park further cementing the area's trajectory as a destination submarket.
The Property is located within a FEMA-designated flood zone and was impacted by Hurricane Helene in 2024. Ownership undertook landscaping remediation to reducefuture exposure, and the Property carries flood insurance. Buyers should review applicable flood zone designations as part of their due diligence.
Location
State NC
County Gaston
Zoning B-1
Interior
Heating Central, Electric
Cooling Central Air, Electric
Appliance Dishwasher, Electric Range, Electric Water Heater, Microwave, Oven, Refrigerator with Ice Maker, Self Cleaning Oven
Laundry Electric Dryer Hookup, In Unit, Washer Hookup
Exterior
Street Surface Asphalt,Paved
Porch Patio
Garage false
Building
Dwelling Type Site Built
Foundation Slab
Sewer Public Sewer
Water City
Structure Type Brick Partial
New Construction false
Schools
Elementary Schools Rankin
Middle Schools Mount Holly
High Schools Stuart W Cramer
Others
Pets Allowed Yes
Senior Community false
Special Listing Condition None
Nearby Locations
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