Pavillion Village_Property for Sale
Pavillion Village_Property for Sale

Pavillion Village

131 Gracyn Olivia Drive, Charlotte, NC, 28262, US

Description

JLL, as exclusive advisor, is pleased to present Pavilion Village (the “Property,” the “Community,” or “Pavilion Village”), a 294‑unit, 2015‑vintage, garden‑style multifamily community located in the rapidly expanding Northeast Charlotte / University City submarket. The asset combines suburban convenience with strong regional connectivity benefitting from proximity to employment anchors such as University Research Park, Atrium Health University City, and multiple major corporate campuses. Pavilion Village features a well‑diversified mix of spacious one‑, two‑, and three‑bedroom floor plans, each designed with modern interiors including black or stainless appliances, granite countertops, walk‑in closets, private patios/balconies, and select attached garages. The community also offers a robust amenity package highlighted by a resort‑style pool, resident clubhouse, fitness center, dog park, and ample green space. As a 2015‑delivered asset with strong bones and desirable curb appeal, Pavilion Village provides a compelling value‑add opportunity. Investors can unlock rental upside through targeted interior renovations (premium finish packages, technology upgrades, flooring replacements), enhanced amenities, and strategic repositioning to better align the community with the elevated renter expectations seen across newer University City and Northeast Charlotte product. The Northeast Charlotte submarket continues to rank among the metro’s highest‑growth corridors, driven by sustained in‑migration, rapidly expanding employment nodes, and significant retail and infrastructure investment. Limited new multifamily deliveries within the immediate competitive set—particularly for large‑scale garden assets—further supports long‑term rent growth and operational durability for Pavilion Village. Charlotte remains one of the nation’s leading markets for population inflows, job creation, and household formation, while rising for‑sale housing costs continue to direct households toward high‑quality rental housing. Supported by strong fundamentals, demonstrated leasing velocity, and clear renovation upside, Pavilion Village is optimally positioned to deliver compelling risk‑adjusted returns and durable long‑term performance.

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Attributes

Units
294
Occupancy
93%
Year built
2015
Building area net
267,276 sf

Media

Investment highlights

  1. Institutionally Owned, 2015 Vintage Asset with Untapped Rental Upside: Ownership has seen a 20%+ ROI on renovated units, leaving classic units with untapped potential
  2. 73% of the Units are in Classic Condition - Perfectly Situated for Full-Scope Renovations: Classic floorplans have renovation potential throughout the entire unit - kitchen, bathrooms, bedrooms, lighting and flooring.
  3. Recent Submarket Stabilization Provides Room to Run on Rents: The Northeast Charlotte submarket, and the direct comps, have experienced strong absorption providing Pavilion Village room to run on rents.
  4. Unrivaled Pedestrian Access to Nearby Amenities and Entertainment - Most Walkable Asset in the Submarket: Only deal in the submarket with direct walkable access to a pharmacy, grocery store, dining and seconds to the famous Truliant Amphitheater.
  5. Proximity to Major Charlotte Employers: Short commute to the 700,000 square-foot Vanguard Campus & $2 Billion Eli Lilly Manufacturing Plant with over 3,200 combined.
  6. 23% of Units Renovated are Experiencing ~$140 Average Rent Premiums: Renovation premiums have been proven out with room to push classic unit rents ~$160.
Pavillion Village 4_Property for Sale
Pavillion Village 4_Property for Sale

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Last updated
Apr 8, 2026