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

UnitTypeSizeRent
10 UNITSSTUDIO500 SF$400 AVG
121 UNITS2 BD / 1 BA815 SF$545 AVG
99 UNITS1 BD / 1 BA628 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 01/20/2017