Location: 5625 Keyway Blvd, Charlotte, North Carolina - 28215
Year Built: 1987
Seller: Emma Capital
Acquisition Date: November 12, 2019
Investment & Highlights
Axiom Apartments is situated in rapidly expanding eastern Charlotte along a very desirable thoroughfare, which provides convenient access to 250,000 jobs within a 15-minute drive, as well as convenience to the most popular entertainment hubs throughout the city.
Booming Charlotte entertainment districts, Plaza Midwood and NoDa, are less than 5 miles from the Axiom.
Strong demographic trends show a 15% increase to household income over the next 5 years and an unemployment rate below 4% in the immediate three-mile radius.
The East Charlotte Submarket is set to see the largest percentage of rent growth out of all major Charlotte submarkets at 4.1% annually through 2022.
Axiom Apartments is set to benefit from a lack of new deliveries in the submarket which will act as a further catalyst to foster organic rent growth.