PACTZ CHARLOTTE ONE

Repurpose

Charlotte

NC

28205

Contacts

Vernon Allamby

Project Documents Download

PACTZ CHARLOTTE ONE
Doc's

Address

3024 E Independent Blvd, Charlotte NC 28205

Date Added     

Apr 19, 2021

Property Details

Property Type

Repurpose

Square Foot

42,612

Year Built

1969

Stories

14

14%

Offer Cap Rate

Present Use

Unit Count

Minimum Invst

Proposed Offer

Estimated Closing

Hotel

154

$25,000

$6,386,702

$804,724

Development Details

P Property Type

P Square Foot

Improvement 

Construction Type

Develp Term

Condo Convert

Not Changed

$3.5mill

Stucco

4 Yrs

Proposed Use

P Unit Count

Total Cost 

Multifam Rent

154 units

$12,670,480

Market Detail 

Location Type 

Population

Area Median Inc

Growth Rate

Metro Area

2,132,000

$82K

3.8%

Condo Comps

Units Sold 90 Days

Units On Market 

Unit Average Sale 

Unit Average Per SqFt. 

101

23

$80,636

$291

 Rental Comps

Available Rental Units

Zip Code

1407

28205

Unit Average Rent 

Unit Average Sq Ft. 

$880

277

Project Financials

P Mortgage Int

Term

Proposed LTV

Proposed Equity

Loan Type

4.5%

4 Yrs

60%

$3,975,871

Amortized

U-Sale/Rent Comp Avg

U-Comps Per SqFt

Projected Net of Sales

Projected ROI

Projected IRR

$116,122

$420

$7,561,508

219%

38%

Project Plan and Notes

This is a unique opportunity for you to invest in something truly revolutionary. A little known but rapidly expanding asset class being referred to as multigenerational housing is emerging .


Arela is determined to be at the forefront of this style of development as it truly supports forward thinking for living and housing.


Our unique development style offers Buyers and Renters the flexibility and affordability they seek in today’s competitive rental and for sale market.


The present pandemic is providing opportunities to purchase and repurpose certain undervalued and underutilized real estate assets for purposeful and productive use at a development cost allowing for better than average return on Investment.


We are developing and bringing to market, investor participation friendly properties that offer our residents flexibility. We employ short term lease options and hospitality style living. We design our properties with expandable floor plans and unit configurations to easily accommodate individual or multi person and family shared living. 


Our management method offers young and active senior adults amenities and lifestyle experience unique in the housing market place.


The Arela team comprises experienced, active and  forward thinking professionals, who are constantly looking forward with creative ideas to meet our resident and buyer demand, ahead of our competition.


For more information and supporting financials please review our proposed Offering Memorandum.