CAMPUS EAST, 144 STUDENT BEDS – GREENSBORO, NC
SOLD 8/9/19 FOR $3,400,000
Deaton was the seller’s exclusive listing agent in this transaction.
Built in 2008, Campus East offers 36, four-bedroom and four-bathroom units located 1.5 miles east of North Carolina A&T. The campus of A&T is home to more than 10,000 students and 2,000 employees. This purpose-built, student housing community is professionally managed by Burkely Communities and operates all 144 bedrooms with a by-the-bed leasing model. The property is 96% leased through the 2018-19 academic year. Leasing for the 2019-20 academic year is well-ahead of historical trends. This presents an opportunity to acquire a stabilized, well-maintained, student asset with improving rents.
UNIT INFORMATION
| Unit | Type | Size | Rent |
|---|---|---|---|
| 36 UNITS | 4 BD/4 BA | 1,125 SF | $375 AVG. PER BED |
PROPERTY INFORMATION
| PIN | 7874-89-1240 |
| Tax Value | $2,840,600 |
| Taxes | $38,717.38 |
| Lot Size | 2.61 ACRES |
| Year Built | 2008 |
| Exterior | VINYL, BRICK |
| Floors | LVT, VINYL, CARPET |
| Foundation | SLAB |
| HVAC | CENTRAL AIR, HEAT PUMP |
| Utilities | PAID BY OWNER |
| Legal Description | Lot # CAMPUS EAST APARTMENTS |
| Appliances | RANGE, REFRIGERATOR, DISHWASHER, MICROWAVE, WASHER/DRYER |
| Sold Date | 2019-08-09 |
| Zoning | RM-18 |
Agent Information Michael Deaton
Location Map
CAMPUS EAST, 144 STUDENT BEDS – GREENSBORO, NC