230 UNITS IN HIGH POINT – RAINTREE APARTMENTS

PRICE:
$ 7,500,000
STATUS:
Sold
ADDRESS:
249 Northpoint Ave, High Point, NC 27262, USA
OVERVIEW:

SOLD 1/20/17 FOR $7,500,000 ($32,608/unit)

Raintree Apartments in High Point, NC is a 230 unit property offering a value-add investor tremendous upside. Deaton Investment Real Estate found this off-market deal and represented the buyer in the acquisition. The seller was represented by their management company, Signature Properties.

Built in 1979, the property offers a mix of one- and two-bedroom units with a pool and clubhouse in a desirable location. The buyer plans to make unit upgrades and institute management efficiencies to maximize net income.

UNIT INFORMATION
Unit Type Size Rent
10 UNITS STUDIO 500 SF $400 AVG
121 UNITS 2 BD / 1 BA 815 SF $545 AVG
99 UNITS 1 BD / 1 BA 628 SF $450 AVG
PROPERTY INFORMATION
PIN 0199862
Tax Value $5,742,600
Lot Size 15.69 ACRES
Year Built 1979
Exterior WOOD
Floors CARPET, VINYL, TILE
Sold Date 2017-01-20

Location Map

230 UNITS IN HIGH POINT – RAINTREE APARTMENTS
Address: 249 Northpoint Ave, High Point, NC 27262, USA Price: $ 7,500,000 Unit: 230