PINECROFT PLACE – 224 UNITS IN GREENSBORO

Price:

$20,600,000

Status:

Sold

Address:

1606 Pinecroft Rd, Greensboro, NC 27407, USA

Overview:

SOLD 11/17/21 FOR $20,600,000
$91,964 per unit

Deaton Investment Real Estate represented the buyer and APG Advisors represented the seller in this off-market transaction. Pinecroft Place is located about five miles southwest of Downtown Greensboro and within immediate proximity to Interstate 40. Built in 1974, the property benefited from extensive renovations in 2016 and 2021 and offers the buyer stabilized performance with rent upside.

Unit Information

UnitTypeSizeRent
98 UNITS1BD/1BA530-820 SF$840-$895
125 UNITS2BD/1BA820-980 SF$935-$1,100
1 UNIT3BD/1.5BA1,000 SF$1,150

Property Information

PIN 7853-07-0038 Tax Value $8,382,832
Taxes $116,772.85 Lot Size 21.94 ACERS
Year Built 1974 Exterior VINYL
Floors LVP Foundation SLAB
HVAC CENTRAL HEATING & AIR Owner Financing NONE
Utilities TENANT PAYS ELECTRIC Appliances RANGE, REFRIGERATOR, MICROWAVE, DISHWASHER, WASHER & DRYER CONNECTION
Legal Description 21.94AC 1 PB 64-134 PL64-134 Zoning RM-12
Sold Date 11/17/2021