NEW ROCKWOOD – 50 UNITS IN ROCKY MOUNT, N.C.

SOLD 11/17/2022 FOR $3,150,000
$63,000.00 per unit

Deaton Investment Real Estate was the exclusive listing firm and was the sole broker in this transaction. New Rockwood Apartments is located in the sprawling suburb of Rocky Mount, N.C., a rapidly-growing market with easy access to I-95 and U.S.-64, which connects this community to markets like the Triangle (Raleigh, Durham, Chapel Hill), Wilson, and Greenville. Built in 1971, the property features 20, two-bedroom and 30, three-bedroom units in all one-story buildings.

Located just minutes northeast of downtown Rocky Mount, the property is within two miles of numerous retail, dining, entertainment, and big-box stores. Over the last year, rents have increased more than 11% in Rocky Mount.  This asset is well-maintained and offers investors the opportunity to acquire a property with income upside through organic growth, operational improvements, and strategic value-add improvements.