WaterWalk Charlotte — Sale in Charlotte, NC

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Charlotte, NC 28217
  • Size: 122,294 SF
  • Year built: 2020

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Description

Jones Lang LaSalle, a North Carolina licensed real estate broker, has been retained as the exclusive sales representative for WaterWalk, a unique 153-unit extended stay hotel conversion opportunity located at 1525 W Arrowood Road in Charlotte, NC. Built in 2020, this modern extended stay property presents a streamlined conversion opportunity to a high-end multifamily asset without the typical structural complications of hotel conversions. The property already features full kitchens and in-unit washer/dryer capability in every unit, allowing for a light-touch repositioning focused on high-impact residential upgrades rather than costly structural work. With an estimated conversion cost of $1.65M-$2.75M, the investment strategy includes luxury lobby transformation, electrical/BTU submetering, and converting the industrial laundry into premium resident amenities. Strategically positioned with direct I-77 access in South Charlotte's established employment corridor, WaterWalk offers acquisition opportunity at a significant discount to replacement cost and recent comparable sales ranging $215K-$250K per unit.

Market Context

This multifamily in Charlotte, NC is listed for sale across 122,294 SF. The building dates to 2020. Compare it against other multifamily listings for sale in Charlotte, NC — view the full market.

As of Q4 2025, the Charlotte multifamily market showed cap rates around 5.0%. Source: Northmarq Q4 2025 market report.

Multifamily market FAQ

What is the typical cap rate for multifamily in Charlotte?
About 5.0% as of Q4 2025, per Northmarq.

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