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.

Unit Information

UnitTypeSizeRent
37 UNITS (NC)1BD/1BA850 SF$790-$840
83 UNITS (NC)2BD/2BA1,000 SF$850-$950
48 UNITS (HR)1BD/1BA880 SF$635-$800
90 UNITS (HR)2BD/1BA970 SF$690-$920
50 UNITS (HR)2BD/1.5BA970 SF$690-$940
16 UNITS (HR)3BD/2BA1,220 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 Owner Financing NONE
Utilities TENANTS PAY UTILITIES Appliances RANGE, REFRIGERATOR, DISHWASHER, W/D CONNECTONS
Legal Description LD PL0059-0059, 14.65 ACS HEATHER RIDGE APTS Zoning MR5
Sold Date 04/14/2022