FAYETTEVILLE PORTFOLIO – 324 UNITS

PRICE:
$ 37,900,000
STATUS:
Sold
ADDRESS:
103 Weatherstone Dr, Fayetteville, NC 28311, USA
OVERVIEW:

SOLD 4/14/2022 FOR $37,900,000
$116,975 per unit

Deaton Investment Real Estate represented the buyer and was the sole broker in this off-market transaction. This deal represented the purchase of 324 units across two assets including, Heather Ridge Apartments and North Crossings Apartments, both of which are located in the growing sub-market of Fayetteville, N.C. This offering provides a buyer the opportunity to increase profitability through strategic value-add improvements.

Built in 1974, Heather Ridge Apartments feature 204-units across a mix of one-, two-, and three-bedroom floorplans.

Built in 1986, North Crossings Apartments feature 120-units across a mix of one- and two-bedroom floorplans.

Link To Tax Records
UNIT INFORMATION
Unit Type Size Rent
37 UNITS (NC) 1BD/1BA 850 SF $790-$840
83 UNITS (NC) 2BD/2BA 1,000 SF $850-$950
48 UNITS (HR) 1BD/1BA 880 SF $635-$800
90 UNITS (HR) 2BD/1BA 970 SF $690-$920
50 UNITS (HR) 2BD/1.5BA 970 SF $690-$940
16 UNITS (HR) 3BD/2BA 1,220 SF $835-$1,040
PROPERTY INFORMATION
PIN 0530-87-7749, 0530-87-6137
Tax Value $13,462,500
Taxes $189,138.57
Lot Size 18.69 ACRES TOTAL
Year Built 1974, 1986
Exterior VINYL
Floors CARPET, VINYL, LVP
Foundation SLAB
HVAC CENTRAL AIR, HEAT PUMPS
Utilities TENANTS PAY UTILITIES
Legal Description LD PL0059-0059, 14.65 ACS HEATHER RIDGE APTS
Appliances RANGE, REFRIGERATOR, DISHWASHER, W/D CONNECTONS
Sold Date 2022-04-14
Zoning MR5

Location Map

FAYETTEVILLE PORTFOLIO – 324 UNITS
Address: 103 Weatherstone Dr, Fayetteville, NC 28311, USA Price: $ 37,900,000 Unit: 324