Sold: 90 units, Charlotte

Sold: 90 units — Charlotte

Results

Year built: 1982
Location: Charlotte, North Carolina
Purchase price (2017): $10.8 million
1031 exchanges: 2
Equity invested: $4.7 million
CapEx budget: $937K
Sale price (2020): $14.5 million

IRR: 15.5%
Equity multiple: 1.5x

In the News

Investors Management Group Announces $14.5 Million Sale of Multifamily Community in Charlotte, North Carolina − Multifamily Biz

Investment Highlights

Quail Hollow is known as one of the most affluent neighborhoods in Charlotte with home prices exceeding $7M in the elite Seven Eagles neighborhood. The prestigious, neighboring Quail Hollow Club is well known for hosting the PGA Championship.

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