Atlantic Ave at Six Forks (Charlotte, Raleigh: for sale, apartments, rentals)

[aperionvi]

Hi Everyone,

I came across a pretty decent condo complex at the intersection of Atlantic and Six Forks Rd called the Windsor Upon Mellow Fields. I would love to hear your thoughts on the location, crime index, traffic, demographics, etc. How is the rental market in that area? Do you recommend investing?

Regards,
V

[ferrickhead28]

Originally Posted by aperionvi

Hi Everyone,

I came across a pretty decent condo complex at the intersection of Atlantic and Six Forks Rd called the Windsor Upon Mellow Fields. I would love to hear your thoughts on the location, crime index, traffic, demographics, etc. How is the rental market in that area? Do you recommend investing?

Regards,
V

That area is IMPROVING...It is a nice complex. There is a gas station right outside and a Bojangles next door. Down the street there's a Cosco (like Sam's Club & BJ's). I think more down to Atlantic, there's a bunch of the older homes. The only thing I really know about the area is the shopping center at Brentwood that used to be pretty worn down. They might have improved it a bit since I was last out that way. Brentwood apartments used to have a bad rap (I'm talking 10 years ago) but again, it might have improved. There's a Walmart also in the area too.

I'm 50-50 on this one. I can see the area is improving, but I have lived in Raleigh all my life (except when I moved) so it's hard for me to see it in a whole new light now. I'm sure it will be really nice once they expand and clean up the surrounding area. I'm sure someone else can give you a little more insight on it.

Good luck!

[ALT-X]

Those specific apartments you are talking about are nice, nothing really occurs there. Being near the Cosco is nice as well. Going back up Six Forks headed north you will find good shopping, esp. when you get up to North Hills.

I'd avoid going east on Atlantic for shopping/entertainment... This direction takes you towards some of the areas in Raleigh with the highest crime (outside of SE Raleigh and the S. Saunders St corridor). Also keep in mind that you have a stretch of the Raleigh Greenway running right behind your apartments and in the past their have been problems with associated with apartments complexes that are in close proximity to it. If you go south through the rear of those apartments the Greenway trail, Crabtree Creek and Capital Blvd are all surprisingly close by.

[aperionvi]

Thank you so much for all of your replies and feedback. I looked at this complex for 2 reasons: 1) There is a new development going up right next to it starting in the 190's. Atlantic Place (built in 2003) has very few available units for sale and it is primarily owner occupied. It is difficult to do rentals in Raleigh because the absorption rate is not very high, but I think that area is in a perfect location, it is literally 7 minutes away from Glenwood South.

On another note, I am trying to decide where in Charlotte to invest as well. I want to buy property in each area and see how they perform, etc. Do you recommend looking anywhere in particular in center city?

Thanks again for all of your help!

[MikeJaquish]

Originally Posted by aperionvi

Thank you so much for all of your replies and feedback. I looked at this complex for 2 reasons: 1) There is a new development going up right next to it starting in the 190's. Atlantic Place (built in 2003) has very few available units for sale and it is primarily owner occupied. It is difficult to do rentals in Raleigh because the absorption rate is not very high, but I think that area is in a perfect location, it is literally 7 minutes away from Glenwood South.

On another note, I am trying to decide where in Charlotte to invest as well. I want to buy property in each area and see how they perform, etc. Do you recommend looking anywhere in particular in center city?

Thanks again for all of your help!

Aperionvi,
Absentee and irresponsible landlords absorb a LOT of vacancies. We have had an influx of bad landlords. Good stuff rents well, in my experience.
Buy it right, maintain it right, get top dollar rent, and it will work.

[aperionvi]

Thanks Mike,

I agree. Everything I have been doing so far is by the book and extremely proactive. The units will be checked by me every month, etc. And, anyone I would rent to is subject to the criminal background check and credit report and up to my discretion.

What are your thoughts on that area for rental purposes? The Meadow Brook condo's that just went up are starting to rent at $1075/month.

Thanks
V