We focus on apartment building financing with short and long-term fixed rates from various sources as well as offering a flexible income documentation option for loans under 2 million. Our goal is to help you achieve your investment objectives in Charlotte, North Carolina.
We specialize in Multifamily Property loans of 5 units or more in all 50 states. Our expertise and financial partnerships will help you get the desired financing through a variety of apartment building financing programs.
Charlotte, NC Overview
The city of Charlotte is North Carolina's biggest city situated in Mecklenburg county. It is the 3rd largest growing city in the U.S. behind Seattle and Denver.
There are approximately 800,000 residents based on data last reported in 2014.
Reasons to Invest in Charlotte
Rising rent prices in Charlotte have made finding an apartment very challenging for tenants, but more attractive to landlords. Approximately 60 percent of Charlotte residents are renters, and vacancy rates have stayed low consistently, mainly due to its localized work force. Many people in Charlotte are employed by major companies in Charlotte such as Nucor, Coca-Cola, Consolidated, and Piedmont Natural Gas.
For commuting, residents can use Charlotte Area Transit System (CATS), interstate highways, I-85 and I-77 and I-485, the I-277 loop which circles around downtown Charlotte to get to their desired location. Route 4 is another option that may work well.
Why Charlotte is Attractive for Multifamily Investors
The average vacancy rate for Charlotte apartment homes dropped to 4.8% at the end of the fourth quarter in 2015, and the market's effective rent also grew. Charlotte remains in the top 10 list nationally for rent growth and is among the leaders in decreased vacancy for one-year leases.
There's excellent growth in job and population along with fairly consistent development. Locations to invest include SOth End, Third Ward, and NoDa. Additioal areas where there's good tenants are near Charlotte Douglas International Airport, Concord and Kannapolis.
Investors may love those facts. As of Q2 in 2017, the average rent for a 2-bedroom is $1,090 according to Zillow. The average for a one-bedroom is $965/month in Charlotte. This represents and average increase of 5 percent from last year. In fact, the increases are so much that Charlotte is competing with Houston..
In summary, Charlotte is definitely a location to buy investment property. Our commercial financing choices for apartment buildings, student housing developments, senior care facilities, or mobile home parks very attractive.
- Fourth Ward
- Myers Park
- North Davidson (NoDa)
- South Park
- South End
- Third Ward
- Plaza Midwood
- Wesley Heights
 - Source: The Mecklenburg Times April 13,2017