What Does a 1937 Brick Fourplex in Charlotte's Elizabeth Neighborhood Actually Offer an Investor Right Now?
525 Oakland Ave · Charlotte, NC 28204 For Sale · 4 Units · 3,492 SF · N2-B Zoning · $1,500,000
Elizabeth is one of Charlotte's most established and most sought-after in-town neighborhoods, tree-lined streets, historic architecture, walkability to Uptown, and a residential identity that has held its character through decades of Charlotte's growth. Finding an investment property in Elizabeth is not easy. Finding a fourplex is rarer still.525 Oakland Avenue is a four-unit brick building, built in 1937, fully masonry construction, two stories, 3,492 SF, available for sale at $1,500,000. For an investor looking for a multifamily asset in one of Charlotte's most proven urban neighborhoods, this is the kind of opportunity worth a serious look.
Why Elizabeth Makes This Investment Different
Location is the story here, and Elizabeth's location is one that speaks for itself.
According to listregroup.com's 2026 Charlotte investment ROI analysis, Elizabeth ranks among Charlotte's top hybrid investment neighborhoods, combining solid cap rates with 28% five-year appreciation driven by historic character and walkability. The neighborhood sits immediately adjacent to Uptown Charlotte, connected to the CityLYNX Gold Line at the Hawthorne Lane and 8th Street station approximately 0.2 miles from this property.
According to Neighborhood Scout's neighborhood analysis, the average rental price in Elizabeth is $2,555, higher than 87.2% of neighborhoods in North Carolina. That rental pricing reflects the demand that comes with an address this close to Uptown, the medical district, and Charlotte's most active dining and entertainment corridors.
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The Property
525 Oakland Avenue is a four-unit residential building on a ±0.17-acre lot in Elizabeth. Built in 1937 with full brick masonry construction, the kind of build quality that most newer properties simply cannot replicate. Two stories. Four units. 3,492 SF GBA. N2-B neighborhood zoning.
The building has forced air heating, central air and window unit cooling, city water and public sewer. Tenants pay all utilities, a meaningful operational advantage for an investor managing cash flow. No HOA. Market-rate rents.
At $1,500,000 the property is offered at $375,000 per unit, a pricing point that reflects both the quality of the asset and the strength of the Elizabeth address.
Charlotte's Multifamily Market in 2026
Charlotte's multifamily market is navigating a period of stabilization. According to Matthews Real Estate Investment Services' Q1 2026 Charlotte Multifamily Market Report, Charlotte's vacancy rate holds at 6.2%, a signal that demand has largely absorbed the wave of new supply that entered the market over the past two years. Annual demand is projected to exceed supply in 2026, supporting gradual improvement in vacancy by year-end.
For an investor evaluating a small multifamily asset in an established Charlotte neighborhood like Elizabeth, that market context matters. The new supply pressure that has affected large apartment complexes in outer submarkets has much less bearing on a well-located four-unit brick building in an in-town neighborhood with limited comparable inventory.
The Listing
525 Oakland Ave · Charlotte, NC 28204 For Sale · 4 Units · 3,492 SF · N2-B Zoning · $1,500,000
Four-unit brick fourplex in Charlotte's Elizabeth neighborhood. Built 1937. Full masonry construction. Two stories. 3,492 SF GBA on ±0.17 acres. N2-B neighborhood zoning. Tenants pay all utilities. Market-rate rents. CityLYNX Gold Line approximately 0.2 miles away. Minutes from Uptown Charlotte. $375,000 per unit.
Ideal for investors seeking a small multifamily asset in one of Charlotte's most established and walkable in-town neighborhoods.
This listing is represented by Legacy Partner Greg Godley and Broker Andrew Pace. They work directly with buyers, investors, and owner-users from first conversation to closing.
