Charlotte, NC 9-Unit Townhome Project Under Contract!
We’re picking up a 1.3-acre Charlotte parcel and subdividing it into 9 townhome sites, with roughly $2.28M all-in against a $3.29M ARV. The deal is still strong, but the seller is in probate, so what was supposed to move quickly is now looking more like a 6–12 month timeline.
2 mins read | September 2026
We are also picking up a 1.3 acre parcel here in Charlotte that we are subdividing into 3 lots with 3 sublots each, which gives us 9 buildable townhome sites. Land is $250,000 and build cost runs around $2.03M, so we are all in near $2.28M against an ARV of about $3.29M, call it $365,000 per door. Clear the land, build all nine, sell them off one at a time at retail. Now the honest update. We just found out the seller is in probate, so this one is going to sit while we help them get it worked out, call it 6 to 12 months instead of right away. The deal is still just as good, it just got slower, and I would rather tell you that than pretend every project runs on schedule. We fund these with a small group of private partners, so if you want to see what we are working on as it comes together, reply to this email and I will get you on the list.
Written by Hammerhead Capital Inc.
