Arbor Village - 839 Scaleybark Road

On Market

Scaleybark Road, Ashbrook - Clawson Village

Charlotte, North Carolina 28209

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Building Details

Property Type Multifamily - Conventional
Year Built 1984
Square Feet 166010
Tenancy Multi
Occupancy Immediate
HIGHLIGHTS:
Impressive Leasing Trends and Operational Performance
Rare Value-Add Opportunity in Established First-Ring Pocket Teeming with Upside Potential
Unrealized Orgainic Rent Growth Potential
Extensive Recent Exterior Capital Improvements / Well Maintained Asset
Cost to Own Skyrocketing in Interior Neighborhoods
Attractive Basis Relative to Recent Neighboring Trades
Proximate to "The Silicone Valley of Health Care"

Newmark is pleased to present Arbor Village, a 220-unit garden apartment investment opportunity in an excellent first ring location of Charlotte, North Carolina with tremendous value-add upside.

Nestled between the established infill Montford Park neighborhood and the burgeoning LoSo entertainment district, Arbor Village operates at a significant discount to neighboring submarkets, with new product exhibiting high rents earned through elevated finish levels. This established central location is popular among locals and surrounded by Charlotte’s most established luxury single-family communities, with excellent access to the prominent SouthPark submarket (67,000 employees) and only 10 minutes from nearly 10,500 announced job relocations / expansions in South End (19,000 employees) and 15 minutes from Uptown (116,000 employees). The Property is immediately proximate to the iconic Park Road Shopping Center and vibrant nightlife along Montford Drive in addition to being only 10-15 minutes from many of the MSA’s largest demand centers and employment hubs, including those mentioned above as well as Ballantyne, Southwest Charlotte,Atrium Health, Novant Health, and more.

Arbor Village boasts excellent surrounding demographics, well renowned schools, and ample value-add opportunity that, along with demonstrated organic rent growth and rents materially below those of neighboring submarkets, pave the way for material near-term revenue growth. With its strong Charlotte location coupled with the various paths to value creation and demonstrated value-add potential, Arbor Village represents an excellent acquisition opportunity with compelling rent growth and value-add to realize outsized returns.

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