Portfolio

Bradford and Rowan Townhomes

900 Rowan St. and 340 Bradford Drive, Charlotte, NC, US

Bradford and Rowan Townhomes_Property for Sale

Gallery

Bradford and Rowan Townhomes 2_Property for Sale

Portfolio description

Jones Lang Lasalle, a North & South Carolina Licensed real estate broker (“JLL”), has been retained as the exclusive sales representative for the two (2) asset Bradford and Rowan Townhomes Portfolio consisting of 67 apartment units located in Charlotte, North Carolina (hereinafter, “The Portfolio”, or “The Assets”).

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Bradford Townhomes consists of 44 units and was constructed in 1971 while Rowan Townhomes contains 23 units and was built in 1973. These two assets are currently leased through a voucher program with the City of Charlotte. The deed restrictions on Bradford require 60% AMI for all 44 units and the deed restrictions on Rowan require 50% AMI for all 23 units.


Furthermore, the Portfolio will provide the next owner with superior levered and average cash on cash returns. With a LIRR of about 18.62% and an unlevered return of 11.09%. Bradford and Rowan Townhomes will grant the buyer an immediate foothold in the Carolinas and could also provide a phenomenal return profile for investors, and is an attractive price per unit investment for the Carolinas


*Assumes 65% Loan-To-Value and a 5.5% Interest Rate.

Attributes

Number of units
23 units
Building area gross
63,144 sf
Land area Gross
2.29 acres (99,927 sf)
Bradford and Rowan Townhomes (2 Properties)
Bradford and Rowan Townhomes (2 Properties)

Investment highlights

​​​​​​​PROXIMITY TO DOWNTOWN

Bradford and Rowan townhomes are located just a

ten-minute drive to Uptown Charlotte, the largest

employment hub in the Charlotte MSA.


VALUE ADD OPPORTUNITY

The max threshold for rents has been increased to $975 per month. This gives an investor the opportunity to increase revenues by over $100k over the next 18 months. 


​​​​​​​PROXIMITY TO THE AIRPORT

Bradford and Rowan Townhomes are located just

10-minutes from Charlotte-Douglas International

Airport, which is the sixth busiest airport in the

world.

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Last updated
Dec 2, 2022