Flats at 87Ten | 8710 Research Dr
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Flats at 87Ten 8710 Research Dr
96 Unit Apartment Building For Sale Charlotte, NC 28262
Investment Highlights
- Charlotte’s Newest Boutique Living Experience Featuring Luxury Finishes and Expansive Amenity Package.
- Class-A Living at a Significant Discount to New Construction Properties Nearby.
- Unmatched Location Enveloped by Thriving New Developments and Thousands of Jobs.
- Impressive Property Performance with Strong Rent Growth and Positive Lease-Up Trends.
- Ideally Located Within 2 Miles of Vanguard’s New 91-Acre Campus.
Executive Summary
Capstone is pleased to present The Flats at 87Ten, a recently completed and stabilized hotel to multifamily luxury conversion, located in the thriving University City submarket of Charlotte, North Carolina. The property, originally constructed in 2000 as a TownePlace Suites, has been fully redeveloped into a modern, Class-A multifamily residence featuring luxury unit interiors and an expansive amenity package. Impressive property performance and strong organic rent growth have positioned the Flats at 87Ten as a highly desirable investment opportunity in one of Charlotte’s most dynamic submarkets. Despite the positive rent growth seen at the property and within the submarket, University City trails market rents seen in other submarkets such as Uptown Charlotte, South End, and South Park, allowing residents to enjoy upscale living at a more affordable rate. Additionally, the Flats at 87Ten is conveniently located within Charlotte’s second largest employment center thereby making the property particularly attractive to young professionals and students seeking affordability and convenience.
Property Facts
| Sale Type | Investment | Lot Size | 2.54 AC |
| No. Units | 96 | Building Size | 56,244 SF |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built | 2023 |
| Apartment Style | Low Rise | Parking Ratio | 2.13/1,000 SF |
| Building Class | B |
| Sale Type | Investment |
| No. Units | 96 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | B |
| Lot Size | 2.54 AC |
| Building Size | 56,244 SF |
| No. Stories | 3 |
| Year Built | 2023 |
| Parking Ratio | 2.13/1,000 SF |
Unit Amenities
- Kitchen
- Hardwood Floors
- Stainless Steel Appliances
- Tub/Shower
- Vinyl Flooring
Site Amenities
- 24 Hour Access
- Clubhouse
- Fitness Center
- Picnic Area
- Pool
- Property Manager on Site
- Gameroom
- Elevator
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PROPERTY TAXES
| Parcel Number | 047-141-19 | Improvements Assessment | $8,700,455 CAD |
| Land Assessment | $2,154,180 CAD | Total Assessment | $10,854,634 CAD |
PROPERTY TAXES
Parcel Number
047-141-19
Land Assessment
$2,154,180 CAD
Improvements Assessment
$8,700,455 CAD
Total Assessment
$10,854,634 CAD
zoning
| Zoning Code | O1CD (Commercial) |
| O1CD (Commercial) |
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Matthew Weinstein -
Joshua Greenwald -
Scott Fuller -
Mike Mosher -
Dane Lozier -
Capstone
(800) 746-3175
x7032
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Flats at 87Ten | 8710 Research Dr
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