RAINTREE APARTMENTS – 230 UNITS IN HIGH POINT, NC
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 |
Agent Information Steve Deaton
Location Map
RAINTREE APARTMENTS – 230 UNITS IN HIGH POINT, NC
Address:
249 Northpoint Ave, High Point, NC 27262, USA
Price: $
7,500,000
Unit:
230