TIMBERSTONE APARTMENTS & GREENWOOD VILLAGE TOWNHOMES – 93 UNITS IN CHARLOTTE, NC
SOLD 3/29/2022 FOR $14,500,000
$155,914 per unit
Deaton Investment Real Estate represented the seller and was the sole broker in this off-market transaction. This deal represented the purchase of 93-units across two assets including, Timberstone Apartments and Greenwood Village Townhomes, both of which are located in the thriving sub-market of Charlotte, N.C. This offering provides a buyer the opportunity to raise rents to market rates through strategic value-add improvements.
Built in 1972, Timberstone Apartments feature 69-units across a mix of one-, two-, and three-bedroom floorplans. These town-homes are part of a home owners association with another 20, individually-owned town-homes.
Built in 1970, Greenwood Village Town-homes feature 24-units across a mix of two- and three-bedroom floorplans. All exteriors and interiors were recently renovated for this property.
UNIT INFORMATION
| Unit | Type | Size | Rent |
|---|---|---|---|
| 8 UNITS - Greenwood | 2BD/1BA | 900 SF | $1,175 |
| 16 UNITS - Greenwood | 3BD/1.5BA | 1,200 SF | $1,325 |
| 36 UNITS - Timberstone | 1BD/1BA | 816 SF | $995 |
| 21 UNITS - Timberstone | 2BD/1.5BA | 952 SF | $1,245 |
| 12 UNITS - Timberstone | 3BD/1.5BA | 1,432 SF | $1,395 |
PROPERTY INFORMATION
| PIN | 16715890, 20318904,16715233 |
| Tax Value | $6,185,400 |
| Taxes | $67,974.05 |
| Lot Size | 9.58 ACRES |
| Year Built | 1972-1974 |
| Exterior | BRICK/VINYL/WOOD |
| Floors | CARPET, VINYL, TILE |
| Foundation | SLAB, CRAWL |
| HVAC | CENTRAL HEATING & AIR |
| Utilities | TENANTS PAY UTILITIES |
| Legal Description | UNIT 4 BLD2218 U/F 505-1 |
| Appliances | RANGE, REFRIGERATOR, DISHWASHER, W/D CONNECTONS |
| Sold Date | 2022-03-29 |
| Zoning | R17MF |
Agent Information Michael Deaton
Location Map
TIMBERSTONE APARTMENTS & GREENWOOD VILLAGE TOWNHOMES – 93 UNITS IN CHARLOTTE, NC
