CAMPUS EAST, 144 STUDENT BEDS – GREENSBORO, NC

Price:

$3,400,000

Status:

Sold

Address:

201 Holt Ave, Greensboro, NC 27405, USA

Overview:

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

UnitTypeSizeRent
36 UNITS4 BD/4 BA1,125 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 Owner Financing NONE
Utilities PAID BY OWNER Appliances RANGE, REFRIGERATOR, DISHWASHER, MICROWAVE, WASHER/DRYER
Legal Description Lot # CAMPUS EAST APARTMENTS Zoning RM-18
Sold Date 08/09/2019