About Magnolia Terrace
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 264-unit Magnolia Terrace apartment community located in Charlotte, North Carolina. The asset is situated in the amenity rich University City suburb, which is experiencing phenomenal gains in population and employment – firmly cementing it as the second largest employment node in the MSA. Submarket performance continues to outpace the broader metro in rent growth, as average effective rent levels are expected to increase by $120 through 2022, while occupancy remains stable at 95%. Built in 1989, Magnolia Terrace is demonstrating spectacular operating momentum on the back of a recent $3.14M capital infusion and represents an outstanding opportunity to invest in an asset that can capture a 31% NOI boost through a multi-pronged value-add platform.