129-Unit Multifamily Property Under Construction in Concord, NC

This listing presents a significant investment opportunity: a 129-unit multifamily apartment complex located in Concord, North Carolina. Currently under construction with an estimated completion date of August 2020, this property is poised to benefit from North Carolina's projected population growth. The complex features 4 blocks, a swimming pool, park, and clubhouse. Unit mix includes 91 two-bedroom units (976 sq ft each) and 38 one-bedroom units (748 sq ft each), all with balconies. The property is situated within 1.5 miles of essential amenities including shopping centers, hospitals, and schools, with new road infrastructure enhancing accessibility. The seller is seeking a sale at the construction phase, with closing expected within 30 days of occupancy certificate issuance. Projected CAP rates are estimated between 7.5% and 8%.