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.

Unit Information

UnitTypeSizeRent
28 UNITS 1BD/1BA665 SF$850
28 UNITS 2BD/2BA915 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