MEADOW POINTE – 56 UNITS IN FAYETTEVILLE

PRICE:
$ 6,250,000
STATUS:
Sold
ADDRESS:
915 Applewood Ln, Fayetteville, NC 28303, USA
OVERVIEW:

SOLD 12/12/2022 FOR $5,850,000
$104,464 per unit

Deaton Investment Real Estate was the exclusive listing agent and the sole broker in this transaction. Meadow Pointe Apartments is a 56-unit apartment community located in Fayetteville, N.C. The asset is located off N. Reilly Road in western Fayetteville, conveniently surrounded by multiple dining, retail, entertainment and employment centers, including Fort Bragg. Meadow Pointe offers investors an opportunity to acquire a property with a proven value-add program and organic upside.

The West Cumberland County Submarket boasted 12.3% rent growth over the last year and a vacancy rate of only 4.7% at the end of Q1 2022. With limited supply in the construction pipeline, these strong fundamentals with continue to support Meadow Pointe’s increasing income trend.

Link To Tax Records
UNIT INFORMATION
Unit Type Size Rent
28 UNITS 1BD/1BA 665 SF $850
28 UNITS 2BD/2BA 915 SF $935
PROPERTY INFORMATION
PIN 9499-71-1765, 9499-71-0572
Tax Value $1,981,700
Taxes $28,468.38
Lot Size 4.45 ACRES
Year Built 1983
Exterior VINYL
Floors CARPET, VIYNL
Foundation SLAB
HVAC CENTRAL AIR, HEAT PUMPS
Utilities TENANTS PAY WATER; CABLE/INTERNET INCLUDED IN LEASE CHARGES
Legal Description DOMINION PROP INV II LLC LO1 SE01 PL0122-0053, DOMINION PROP INV II LLC LO2 SE01 PL0122-0053
Appliances RANGE, REFRIGERATOR, DISHWASHER
Sold Date 2022-12-12
Zoning LC

Location Map

MEADOW POINTE – 56 UNITS IN FAYETTEVILLE
Address: 915 Applewood Ln, Fayetteville, NC 28303, USA Price: $ 6,250,000 Unit: