ELEVATION STATION AT HIGHLAND – GREENSBORO, NC

Sold 12/19/24 for $1,200,000 or $100,000/unit

Deaton GREA is pleased to present, as the exclusive listing broker for the seller, Elevation Station at Highland. This 12-unit, 24-bedroom property is located in the heart of Greensboro at the University of North Carolina at Greensboro. Situated on a quiet street, across from a public park, the property is less than one mile from the center of campus and within three blocks of the wellness center and the retail and dining attractions at UNCG’s Spartan Village and South Campus. The property features identical two-bedroom and two-bathroom units that are currently leased by-the-bed, with an average, in-place rent equal to $560 per bed.

This is a great opportunity for a buyer to add value through operational and strategic renovations that would increase income. Current rents are below market. Additionally, the property can be transitioned to a traditional by-the-unit leasing model as leases expire. Prior ownership opted to lease by-the-bed because that is how they operated their larger asset in the market. This same owner is also offering a similar, 12-unit building for sell at 1722 Brice Street.