2909 Burgess Drive,Charlotte, NC 28208
Charlotte, NC 28208
Description
Stabilized 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. Access to Charlotte's Most Dynamic Destinations: 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: The property underwent a full exterior refresh in 2023, including a complete siding and trim replacement, which supports strong curb appeal and reduces 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.
Details
| MLS # | 4393768 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Year | 1970 |
| Days On Site | 73 |
| Listing Provided By | Andrew Reed Properties, LLC | Jeff Shugarts Jr |
Features
| Bed(s) | 24 |
|---|---|
| Bath(s) | 24 Total |
| SQ Feet | 11,064 |
| Story(s) | 2 |
| Units | 12 |
| Acreage | 0.76 |
Interior
| Cooling | Window Unit(s) |
|---|---|
| Heating | Baseboard |
| Appliances | Other |
Exterior
| Construction Materials | Vinyl |
|---|---|
| Foundation Details | Slab |
Parking
| Garage Yes / No | No |
|---|---|
| Parking Features | Parking Lot |
Other
| List Aor | Canopy Realtor Association |
|---|
Taxes
| Property | 1157100 |
|---|
Area Information
| State | NC |
|---|---|
| County | Mecklenburg |
| City | Charlotte |
| Zip Code | 28208 |
| Area | Mecklenburg |
| School District | Harding University |
| Elementary School | Reid Park |
| High School | Harding University |
| Listing VS Median (in 28208) | |
Price: $2,000,000 low | high Med: $335,000 sqft: 11,064 low | high Med: 1,724 $ / sqft: $181 low | high Med: $260 On site: 73 low | high Med: 86 | |
Market Activity 28208
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Listings courtesy of Canopy MLS as distributed by MLS GRID.
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Learn More About This Property
| State | NC |
|---|---|
| County | Mecklenburg |
| City | Charlotte |
| Zip Code | 28208 |
| Area | Mecklenburg |
| School District | Harding University |
| Elementary School | Reid Park |
| High School | Harding University |
| Listing VS Median (in 28208) | |
Price: $2,000,000 low | high Med: $335,000 sqft: 11,064 low | high Med: 1,724 $ / sqft: $181 low | high Med: $260 On site: 73 low | high Med: 86 | |
 | $1,575,0002100 Bombay WayCharlotte, NC 28208 |