FLORENCE RIDGE – 24 UNITS IN GRAHAM, N.C.

Price:

$2,400,000

Status:

Sold

Address:

115 Florence St, Graham, NC 27253, USA

Overview:

SOLD 4/29/22 FOR $2,325,000
$96,875/unit

Deaton Investment Real Estate was the exclusive listing broker for this transaction. Florence Ridge is located in Graham, a suburban market along the I-85/I-40 corridor, which links the Triangle (Raleigh, Durham, Chapel Hill) and Triad (Greensboro, Winston-Salem, High Point) regions. These 24 units feature brick exteriors and a mix of ten, 1-bedroom and 14, 2-bedroom units. Current ownership has raised rents over the last year, but there is an opportunity to continue raising lagging rents and push rents higher with strategic improvements.

Unit Information

UnitTypeSizeRent
10 UNITS1BD/1BA593 SF (Approx.)$725 MARKET
14 UNITS2BD/1BA740 SF (Approx.)$850 MARKET

Property Information

PIN 8883175863 Tax Value $742,370
Taxes $4,899.64 Lot Size 1.16 ACERS
Year Built 1972 Exterior BRICK/VINYL
Floors TILE, LVP, VINYL Foundation SLAB
HVAC CENTRAL AIR, HEAT PUMPS Owner Financing NONE
Utilities OWNER PAYS WATER Appliances RANGE, REFRIGERATOR
Legal Description FLORENCE STREET Zoning R-MF
Sold Date 04/29/2022