The Excellence of living in Wrapche

2909 Burgess Drive

Charlotte, NC 28208

MLS#: 4361886

$2,000,000

Status: Active
Listing number: 4361886
Listing provided by: Andrew Reed Properties, LLC
Listing agent phone: None
Last update: 20 days ago
On site: 22 days ago
Browse Properties
Reid Park - Residential

Property

Beds

24

Full Baths

12

1/2 Baths

12

Year Built

1970

Sq.Footage

11,064

Charlotte, NC 12-Unit Townhome Community with Immediate Value-Add Upside: Twelve-unit townhome community comprised entirely of 2-bedroom/1.5-bath units with 10 of 12 units fully renovated to a modern finish level. Two recently renovated vacant units represent immediate lease-up upside, while two below-market occupied units at $995 provide a clear runway to capture additional rent growth upon turn. The highest achieving in-place rent of $1,535 establishes a proven rent ceiling with a direct path to full stabilization. Premium Location: 2 miles from Lower South End (LoSo), Charlotte's emerging hub of breweries, restaurants, retail, and light rail access, home to major employers including Lowe's Tech Hub, USAA, and LendingTree. 2.5 miles from South End, one of Charlotte's most nationally recognized and vibrant live-work-play corridors. 4 miles from Uptown Charlotte, the region's central business district and primary employment core. 4.5 miles from Charlotte Douglas International Airport, the seventh-busiest airport in the world, and a top-three driver of corporate relocation and expansion in the Charlotte region. Premium Interior Renovation Package: Renovated units feature granite countertops, LVP flooring, new carpet, new cabinets, new appliances, vanities, updated modern lighting and fixtures, and washer/dryer connections, a finish level that commands premium rents and supports durable tenant retention in the Charlotte workforce housing segment. Exterior Capital Investment: Property received a full exterior refresh and, in 2023, a complete siding and trim replacement, supporting strong curb appeal and reduced near-term capital requirements for an incoming investor. Attractive All-Townhome Unit Mix: Exclusively 2-bedroom/1.5-bath two-story townhome floor plans offering renters added privacy, functional layouts, and a more residential living experience than traditional apartment product, a highly desirable configuration in the Charlotte rental market that supports strong leasing velocity and tenant retention.

Features & Amenities

Interior

  • Total Bedrooms

    24

  • Bathrooms

    12

  • 1/2 Bathrooms

    12

  • Above Grade Finished Area

    11064.0

  • Basement YN

    NO

  • Cooling YN

    YES

  • Cooling

    Electric, Window Unit(s)

  • Fireplace YN

    NO

  • Heating YN

    YES

  • Heating

    Baseboard, Electric

  • Pet friendly

    Yes

Exterior

  • Garage

    No

  • Parking

    Assigned

  • Pool

    No

Area & Lot

  • Property Type

    Residential

  • Property Sub Type

    Townhouse

Price

  • Sales Price

    $2,000,000

  • Sq. Footage

    11, 064

  • Price/SqFt

    $180

HOA

  • Association

    No

School District

  • Elementary School

    Reid Park

  • Middle School

    J.W. Wilson

  • High School

    Harding University

Property Features

  • Foundation Details

    Slab

  • Senior Community YN

    NO

  • Sewer

    Public Sewer

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Location

County

Mecklenburg

Elementary School

Reid Park

Middle School

J.W. Wilson

High School

Harding University

Listing Courtesy of Jeff Shugarts Jr , Andrew Reed Properties, LLC

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AGENT

Franko Maric

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(341) 209-1143

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Charlotte, NC 12-Unit Townhome Community with Immediate Value-Add Upside: Twelve-unit townhome community comprised entirely of 2-bedroom/1.5-bath units with 10 of 12 units fully renovated to a modern finish level. Two recently renovated vacant units represent immediate lease-up upside, while two below-market occupied units at $995 provide a clear runway to capture additional rent growth upon turn. The highest achieving in-place rent of $1,535 establishes a proven rent ceiling with a direct path to full stabilization. Premium Location: 2 miles from Lower South End (LoSo), Charlotte's emerging hub of breweries, restaurants, retail, and light rail access, home to major employers including Lowe's Tech Hub, USAA, and LendingTree. 2.5 miles from South End, one of Charlotte's most nationally recognized and vibrant live-work-play corridors. 4 miles from Uptown Charlotte, the region's central business district and primary employment core. 4.5 miles from Charlotte Douglas International Airport, the seventh-busiest airport in the world, and a top-three driver of corporate relocation and expansion in the Charlotte region. Premium Interior Renovation Package: Renovated units feature granite countertops, LVP flooring, new carpet, new cabinets, new appliances, vanities, updated modern lighting and fixtures, and washer/dryer connections, a finish level that commands premium rents and supports durable tenant retention in the Charlotte workforce housing segment. Exterior Capital Investment: Property received a full exterior refresh and, in 2023, a complete siding and trim replacement, supporting strong curb appeal and reduced near-term capital requirements for an incoming investor. Attractive All-Townhome Unit Mix: Exclusively 2-bedroom/1.5-bath two-story townhome floor plans offering renters added privacy, functional layouts, and a more residential living experience than traditional apartment product, a highly desirable configuration in the Charlotte rental market that supports strong leasing velocity and tenant retention.

2909 Burgess Drive

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