The housing market is alive and well in Center City. If you work Uptown and think you could not possibly afford to call it home then Fifth & Poplar’s prices might surprise you. Living within walking distance to work and play definitely improves quality of life!
Its great location is in the heart of Uptown, just 2 blocks from Trade and Tryon and in walking distance to Discovery Place, EpiCentre, Bank of America Stadium, Knights stadium and all things Uptown entertainment. For more green space, Fourth Ward Park is just across the street.
For pet lovers, Fifth & Poplar does allow pets – but only 2 per unit. There is a small dog park area in the courtyard and mulched areas around the building for walking dogs.
Formerly a rental apartment building, Fifth & Poplar was converted into 300 condominium units in 2006. The 8-story building’s entrance faces the intersection of Fifth and Poplar streets, while the property wraps around the entire city block surrounding a 1-acre residents green space, pool and putting green.
The resort-style property has a variety of on-sight conveniences like a Harris Teeter, Versa Salon and Spa, a full-service Aveda salon, dry cleaners, nail salon, building-wide Wi-Fi service, cyber cafe with brewed Starbucks coffee and a 24-hour fitness center. The building also has full-time maintenance staff and concierge services. Residents also get designated parking spaces.
Granite countertops, hardwood floors and stainless steel appliances are standard in most of the residences. Many residents have made upgrades to kitchens and baths. All the residences have sizable balconies from which residents can enjoy the views of Uptown.
Homes are priced in the high $100,000s for studios to $1 million-plus for penthouse units. Square footage ranges from 550 square feet to 2,400 square feet.
There are currently 15 Fifth & Poplar units for sale, 9 of which are under contract as of March 13.
There are several units of more than 1,000 square feet on the market as well as smaller studio residences.
The average sales price of a Fifth & Poplar residence is $276,371 or nearly $273 per square foot during the last 12 months. Approximately, 1.8 homes sold each month during the last year for a total of 22 residences sold during the last 12 months for an average of nearly 98% of list price.
At an average of 1.8 units sold per month, the current listings give the property about 8.6 months of inventory. Nearby 230 South Tryon, which sells at a much higher price point, has 6.7 months of inventory. The average for Charlotte is 3.7 months.
The highest and lowest sales prices during the last 12 months were $340,000 and $194,500, respectively.
With the Blue Line light rail expansion in full swing and a bustling nightlife, Uptown has never looked better!