2909 Burgess Drive, Charlotte, NC 28208

Property 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.