CYPRESS GROVE – 210 UNITS IN WILMINGTON, NC

PRICE:
$ 36,000,000
STATUS:
Sold
ADDRESS:
2 Cypress Grove Dr, Wilmington, NC 28401, USA
OVERVIEW:

SOLD 6/30/2022 FOR $36,000,000
$171,429 per unit

Deaton Investment Real Estate represented the buyer and was the sole broker in this off-market transaction. Located in Wilmington, N.C., Cypress Grove is a 210-unit, garden-style property situated across 15.7 acres. Built in 1970, Cypress Grove features a mix of one-, two, and three-bedroom floorplans. This asset offers the opportunity to increase income through operational and strategic value-add improvements.

Link To Tax Records
UNIT INFORMATION
Unit Type Size Rent
56 UNITS 1BD/1BA 763 SF $950
114 UNITS 2BD/1.5BA (TH) 1,012 SF $1,215
16 UNITS 2BD/1BA 878 SF $925
6 UNITS 3BD/2.5BA (TH) 1,407 SF $1,300
16 UNITS 3BR/2BA 1,173 SF $915
2 UNITS STUDIO 390 SF $600
PROPERTY INFORMATION
PIN 06010-005-001-000
Tax Value $12,760,300
Taxes $82,933
Lot Size 15.73 ACRES
Year Built 1970
Exterior HARDBOARD, BRICK
Floors CARPET, VINYL, LVP
Foundation SLAB
HVAC CENTRAL A/C, HEAT PUMP
Utilities TENANTS PAY UTILITIES
Legal Description ADJ COMMUNITY DR BLK 2 N 80
Appliances RANGE, REFRIGERATOR, DISHWASHER, W/D CONNECTIONS IN SELECT UNITS
Sold Date 2022-06-30
Zoning MF-M-MULTI FAMILY MED DEN

Location Map

CYPRESS GROVE – 210 UNITS IN WILMINGTON, NC
Address: 2 Cypress Grove Dr, Wilmington, NC 28401, USA Price: $ 36,000,000 Unit: 210