Beaver Run Apartments | 414 11th St SW
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Beaver Run Apartments 414 11th St SW
24 Unit Apartment Building $2,731,136 CAD ($113,797 CAD/Unit) 6.97% Cap Rate Hickory, NC 28602
Investment Highlights
- Proven In Place Value-Add
- Unit Mix: Attractive One-Bedroom Unit Floorplans with Exterior Balconies
- Rapid Employment Growth & Affordability in the Hickory Market has Made it an Attractive Market for Investors
- Easy Accessibility to the Region’s Top Economic Generators, Retail, Restaurants, Interstates, and Schools.
- Catawba County is home to Apples largest Data Center and Microsoft Broke Ground this Year on One of Four Planned Data Centers in Catawba County
Executive Summary
Marcus & Millichap is pleased to present the exclusive opportunity to acquire the Beaver Run Apartments located at 414 11th St SW, 1.8 miles from the newly opened Appalachian State Graduate Campus, in Hickory, NC. This property is comprised of 24 units, built in 2001, that include 24, one-bedroom and one-bathroom floorplans. This property offers an investor the opportunity to continue to capitalize on proven in place value-add renovations to the interior of the units and increase rents to submarket levels.
The Hickory multifamily market has experienced significant growth over the last several years, fueled by its proximity to Charlotte and residents seeking an economical alternative to higher priced rental rates seen within surrounding markets. This growth is projected to continue as Hickory’s economy has been influenced by similar patterns, rapidly transforming from a smaller, separate economy to a
popular Charlotte submarket alternative for manufacturing, communication, data, and logistics. As the Hickory market continues to expand and gain national investor prominence, the Beaver Run Apartments are perfectly positioned to leverage this growth opportunity moving forward.
The Hickory multifamily market has experienced significant growth over the last several years, fueled by its proximity to Charlotte and residents seeking an economical alternative to higher priced rental rates seen within surrounding markets. This growth is projected to continue as Hickory’s economy has been influenced by similar patterns, rapidly transforming from a smaller, separate economy to a
popular Charlotte submarket alternative for manufacturing, communication, data, and logistics. As the Hickory market continues to expand and gain national investor prominence, the Beaver Run Apartments are perfectly positioned to leverage this growth opportunity moving forward.
Data Room Click Here to Access
- Offering Memorandum
Property Facts
| Price | $2,731,136 CAD | Property Subtype | Apartment |
| Price Per Unit | $113,797 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 3.75 AC |
| Cap Rate | 6.97% | Building Size | 15,600 SF |
| No. Units | 24 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 2001 |
| Price | $2,731,136 CAD |
| Price Per Unit | $113,797 CAD |
| Sale Type | Investment |
| Cap Rate | 6.97% |
| No. Units | 24 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 3.75 AC |
| Building Size | 15,600 SF |
| No. Stories | 3 |
| Year Built | 2001 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 24 | - | 650 |
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PROPERTY TAXES
| Parcel Number | 3702050737860000 | Improvements Assessment | $1,754,283 CAD |
| Land Assessment | $69,341 CAD | Total Assessment | $1,823,624 CAD |
PROPERTY TAXES
Parcel Number
3702050737860000
Land Assessment
$69,341 CAD
Improvements Assessment
$1,754,283 CAD
Total Assessment
$1,823,624 CAD
zoning
| Zoning Code | R-4 |
| R-4 |
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Beaver Run Apartments | 414 11th St SW
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