Townhomes at Cannon Mills

Townhomes at Cannon Mills is a renovated 24-unit townhome community situated on ±2.22 acres in a quiet residential neighborhood of Kannapolis, NC. The property is comprised of two-story 2BR/1.5BA units featuring washer/dryer connections in every home, along with both front and back porches, delivering durable, in-place cash flow with a clear path to additional upside through continued rent optimization toward prevailing submarket levels and the opportunity to further modernize remaining interiors to support premium rent positioning.

A recent ±$500,000 capital improvement program materially reduces near-term CapEx needs and supports long-term performance, curb appeal, and operating efficiency.

Exterior & Curb Appeal:
Painted brick exterior
Metal awnings and shutters
Upgraded exterior lighting
New gutters

Building / Systems:
New windows
Upgraded electrical panels
Targeted HVAC replacements
Utility optimization initiatives

Site Improvements:
New concrete patios and railings
New asphalt parking lot with wheel bumpers

Conveniently Located:
2.5 miles to Downtown Kannapolis
5 miles to Atrium Health Cabarrus
25 miles to Uptown Charlotte
Convenient access to I-85

Townhomes at Cannon Mills combine suburban stability with Charlotte-metro connectivity. With meaningful recent upgrades already completed and additional revenue potential through rent optimization and selective interior enhancements, the property is positioned for continued performance in a market benefiting from sustained population and income growth.