12 UNITS NEAR UNCG IN GREENSBORO, NC

Deaton GREA is pleased to present, as the exclusive listing broker for the seller, a 12-unit, 24-bedroom property in the heart of Greensboro at the University of North Carolina at Greensboro. Located three blocks west of campus, the property offers residents pedestrian friendly access to the educational, retail, and dining core of UNCG. 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 $504 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 920 Highland Ave.