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 | 01/20/2017 |
