1909 Pegram ST new Save Request In-Person Tour Request Virtual Tour
Charlotte,NC 28205
Key Details
Property Type Multi-Family
Sub Type Sevenplex
Listing Status Active
Purchase Type For Sale
Square Footage 5,752 sqft
Price per Sqft $330
Subdivision Villa Heights
MLS Listing ID 4317137
Bedrooms 14
Full Baths 7
Half Baths 4
Year Built 1968
Lot Size 0.500 Acres
Property Sub-Type Sevenplex
Property Description
Nestled in the heart of Charlotte's vibrant Villa Heights neighborhood, 1909 and 1917 Pegram Street present a rare and compelling investment opportunity. These two multifamily properties—a triplex at 1909 Pegram St. and a quadraplex at 1917 Pegram St.—are offered together as a seven-unit portfolio, each on its own parcel but sold as a unified investment. Just a short walk from the bustling NODA district, residents enjoy immediate access to Charlotte's premier nightlife, restaurants, breweries, and the Lynx Blue Line, making this location highly desirable for both short-term and long-term tenants.
Both buildings underwent a complete renovation in 2020, transforming them into modern, turnkey residences. Each unit is thoughtfully outfitted with a full appliance package, including stackable washer/dryer units, ensuring convenience and comfort for tenants. The interiors are fully furnished, reflecting the properties' history as corporate short-term rentals for the past five years. This setup allows a new owner to seamlessly continue short-term operations or pivot to long-term leasing strategies.
The exterior spaces are equally appealing, featuring green space shaded by mature trees and a fenced-in dog/play park, enhancing the livability and charm of the community. With all units scheduled to be vacant by the end of October 2025, the portfolio offers a clean slate for investors to place vetted tenants on their own terms, maximizing rental income and operational control.
The attached income evaluation of this portfolio is based on a Pro Forma financial model for long-term rentals, which outlines the income potential and projected returns. Given the properties' proximity to downtown Charlotte, and the ever-growing popularity of NODA, there is significant upside potential. Whether continuing with furnished short-term rentals or transitioning to long-term leases, this seven-plex portfolio is a strategic acquisition for investors seeking growth, flexibility, and location-driven value.
Location
State NC
County Mecklenburg
Zoning N1-C
Interior
Heating Heat Pump
Cooling Ceiling Fan(s),Central Air
Flooring Vinyl,Wood
Laundry Utility Room
Exterior
Fence Fenced
Utilities Available Cable Available
Roof Type Architectural Shingle
Building
Lot Description Infill Lot
Dwelling Type Site Built
Foundation Crawl Space,Slab
Sewer Public Sewer
Water City
Structure Type Brick Full,Wood
New Construction false
Schools
Elementary Schools Unspecified
Middle Schools Unspecified
High Schools Unspecified
Others
Acceptable Financing Cash,Conventional
Listing Terms Cash,Conventional
Special Listing Condition None