DOCUMENT CENTER
DOCUMENT CENTER
199 Belmont Mount Holly Rd
Belmont, NC 28012
Property Description
garden-style
176
multifamily
2 MI North of city center
13 MI NW of Charlotte
nestled in a wooded area along Belmont Mt Holly Rd, north of Interstate 85
1996 (Phase I) / 1988 (Phase II)
Style:
# of total units:
Type:
Distance from Downtown:
Location:
Year built:
24
# of total buildings:
two story
# of stories/floors in each building:
frame
Building materials:
brick, siding, decorative shutters
Exterior building materials:
pitched roofs with
composition shingles
Roof type:
13.49 acres
Acres of land:
12.97 units per acre
Density:
yes
Pets allowed:
Unit Mix
measuring between 570 & 688 SF
94 one-bedroom units
measuring between
1,067 & 1,179 SF
82 two-bedroom TH units
of 886 SF
Average unit size
Swimming Pool with Sundeck
Playground
Covered Picnic and Grilling Area
On-Site Laundry Facilities
On-Site Management and Maintenance
Short Term Lease Available
Online Resident Portal / Smartphone App with Rent and Maintenance Request Acceptance
Plenty of Convenient, On-Site Parking
Controlled Access
Beautifully Landscaped with Manicured Grass, Mature Trees, and Trimmed Shrubs
Close to Catawba River, Parks, Belmont Abbey College, Schools, Stores, Restaurants, and Entertainment Options
Convenient Access to Interstate 85, U.S. Highway 74, CATS Bus Line, AMTRAK Station, Charlotte Douglas International Airport, Downtown Belmont, and Charlotte
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Community Amenities
Renovated and Classic, One- and Two-Level Townhouse Floor Plans Available
Kitchen with Electric Stove, Refrigerator, Dishwasher, Double Basin Sink, Dining Area, and Plenty of Cabinet & Counter Space
Full Size Bathroom with Tub and Shower Combination
Wood-Style / Tile Flooring, Plush Carpeting, Lighted Ceiling Fans, and Mini Blinds
Spacious Closets and Large Windows
Covered, Private / Semi-Private Entry
Private Patio / Balcony with Glass Panel Door
Washer and Dryer Connections
Select Units Feature Downstairs Powder Room, Washer / Dryer Included, and Extra Storage
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Unit Amenities
Contact Us
Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage loan brokerage business in Nevada.
© 2023 Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Berkadia® and Berkadia Commercial Mortgage® are trademarks of Berkadia Commercial Mortgage LLC. Investment sales and real estate brokerage businesses are conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. Tax credit syndication business is conducted exclusively by the Tax Credit Syndication group. For state licensing details for the above entities, visit: https://www.berkadia.com/licensing/.
Matthew Robertson
Associate
919.812.3174 matthew.robertson@berkadia.com
JOHN BRAY
Senior Managing Director
404.654.2595
john.bray@berkadia.com
RICHARD LEVINE
Senior Managing Director
404.654.2590
richard.levine@berkadia.com
JOSH FINLEY
Director
404.654.2594
josh.finley@berkadia.com
Thomas Colaiezzi
Director
901.603.8590 thomas.colaiezzi@berkadia.com
BLAKE COFFEY
Senior Director
843.628.3766
blake.coffey@berkadia.com
CALEB TROOP
Managing Director
314.607.3481
caleb.troop@berkadia.com
FINANCING
INVESTMENT SALES
BACK TO TOP
Gallery
LOCATION
7.47% T12 Eff rent growth
Investment summary
& highlights
AMENITIES
GALLERY
PROPERTY
DOCUMENT CENTER
LOCATION
CONTACT US
PRIVACY
TERMS OF USE
199 Belmont Mount Holly Rd
Belmont, NC 28012
MARK BOYCE
Managing Director
843.628.3765
mark.boyce@berkadia.com
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Major street exposure:
Belmont-Mt. Holly Road
We are pleased to present the exclusive offering of Residences at Belmont, a 176-unit, 1988/1996-built townhome community well located in Historic Belmont. The property sits right I-85 and Highway 74, providing direct access to 135k+ jobs in Uptown Charlotte and easy access to the international airport. This affluent submarket of Charlotte has experienced tremendous rent growth (58.1%) above pre-pandemic 5-year levels due to high barriers of entry. Along with strong submarket fundamentals the property has shown strong operational performance achieving 7% increase in effective rents over the past 12 months and maintain 95%+ occupancy. The property continues to perform well, consistently burning off loss-to-lease as it enters prime leasing season, offering incoming ownership the exceptional opportunity to capitalize on the strong leasing velocity and capture substantial organic rent growth (6.2% increase on renewals / 19% increase on leases over the past 30 days vs. In-place rents). There is also additional upside in recapturing Utilities, which is currently not in place.
6.2% Increase on renewals
19% Increase on new leases vs. In-place rents
Currently do not bill back for Utilities
(~$100,000 in upside at 75% recapture)
Consistently 95%+ occupancy
46% Townhomes
Matthew Robertson
Associate
919.812.3174 matthew.robertson@berkadia.com
JOHN BRAY
Senior Managing Director
404.654.2595
john.bray@berkadia.com
RICHARD LEVINE
Senior Managing Director
404.654.2590
richard.levine@berkadia.com
JOSH FINLEY
Director
404.654.2594
josh.finley@berkadia.com
Thomas Colaiezzi
Director
901.603.8590 thomas.colaiezzi@berkadia.com
MARK BOYCE
Managing Director
843.628.3765
mark.boyce@berkadia.com
BLAKE COFFEY
Senior Director
843.628.3766
blake.coffey@berkadia.com
CALEB TROOP
Managing Director
314.607.3481
caleb.troop@berkadia.com
FINANCING
INVESTMENT SALES
BACK TO TOP
Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage loan brokerage business in Nevada.
© 2023 Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Berkadia® and Berkadia Commercial Mortgage® are trademarks of Berkadia Commercial Mortgage LLC. Investment sales and real estate brokerage businesses are conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. Tax credit syndication business is conducted exclusively by the Tax Credit Syndication group. For state licensing details for the above entities, visit: https://www.berkadia.com/licensing/.
1br rent $344 below market
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2br rent $312 below market
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7.47% T12 Eff rent growth
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6.2% Increase on renewals
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19% Increase on new leases vs. In-place rents
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Currently do not bill back for Utilities
(~$100,000 in upside at 75% recapture)
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Consistently 95%+ occupancy
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46% Townhomes