Updated Oct 28, 2024
Harvest Properties Group Acquires Multifamily Property In Charlotte, NC For $1.6M
2909 Burgess Drive & 2917 Burgess Drive
$1,600,000
$69/SF
Building Size
11,448 SF
Asset Type
MultiFamily
Closing
Nov 3, 2022
About this deal
AI
The multifamily property located at 2909 & 2917 Burgess Drive in Charlotte, NC has been sold for a total price of $1,600,000. The property spans across 11,448 square feet, resulting in a price per square foot of $140.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,600,000
- Address: 2909 & 2917 Burgess Drive, Charlotte, NC
- Square Footage: 11,448
- Price per Square Foot: $140
The buyer of the property is Harvest Properties Group. The deal was facilitated by the brokers Samuel Finkler, Audley Clarke, and Andrew Hyans from TrueRate Investment Sales.
On the Map
$1,600,000
$69/SF
MultiFamily
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Charlotte MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
9.91%
Cash-on-Cash
-2.83%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93