EASTBROOKE APARTMENTS – 233 UNITS IN BURLINGTON, NC

PRICE:
$ 24,600,000
STATUS:
Sold
ADDRESS:
1900 Morningside Dr, Burlington, NC 27217, USA
OVERVIEW:

SOLD 8/18/21 FOR $24,600,000
$105,579 per unit

Deaton Investment Real Estate represented the seller and was the sole broker in this off-market transaction. Eastbrooke Apartments is located in the suburban market of Burlington, NC, which links the Triangle (Raleigh, Durham, Chapel Hill) and Triad (Greensboro, Winston-Salem, High Point) regions. The property features 143 units built in 1970 and 90 units completed in 2019. After acquiring the property in December of 2020, the seller was able to lease-up the new phase of the property, bring down-units online, add a brand new leasing office and resale the property. The buyer rebranded the property as The Venue.

Link To Tax Records
UNIT INFORMATION
Unit Type Size Rent
1970 - 16 UNITS 1 BD/1 BA 805 SF $650
1970 - 91 UNITS 2 BD/1 BA 1094 - 1253 SF $750
1970 - 36 UNITS 3 BD/2 BA 1266 SF $850
2019 - 36 UNITS 1 BD/1 BA 650 SF $800
2019 - 54 UNITS 2 BD/1 BA 870 SF $900
233 UNITS TOTAL
PROPERTY INFORMATION
PIN 8885076023, 8885160959, 8885171105
Tax Value TBD
Taxes TBD
Lot Size 14.69 ACRES
Year Built 1970 & 2019
Exterior BRICK, HARDBOARD, VINYL
Floors CARPET, VINYL, LVT
Foundation SLAB
HVAC CENTRAL A/C, HEAT PUMP
Utilities OWNER PAYS WATER
Legal Description EASTBROOKE APTS
Appliances RANGE, REFRIGERATOR, DISHWASHER, WASHER & DRYER CONNECTIONS
Sold Date 2021-08-18
Zoning MF

Location Map

EASTBROOKE APARTMENTS – 233 UNITS IN BURLINGTON, NC
Address: 1900 Morningside Dr, Burlington, NC 27217, USA Price: $ 24,600,000 Unit: 233