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 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. |
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 | Owner Financing | NONE |
| Utilities | TENANTS PAY WATER; CABLE/INTERNET INCLUDED IN LEASE CHARGES | Appliances | RANGE, REFRIGERATOR, DISHWASHER |
| Legal Description | DOMINION PROP INV II LLC LO1 SE01 PL0122-0053, DOMINION PROP INV II LLC LO2 SE01 PL0122-0053 | Zoning | LC |
| Sold Date | 12/12/2022 |
