SPRINGDALE APARTMENTS – 27 UNITS IN BURLINGTON
Springdale Apartments are just three miles from Elon University and the corporate headquarters of LabCorp, two of the largest employers in Alamance County. Additionally the property offers convenient access to multiple dining, shopping and retail centers in Burlington, NC.
The property consist of 27 units built in two phases on two adjacent parcels. The six units at 1407 Grimes Street were built in 1987 and the 21 units at 317 Caswell Street were constructed in 1998. Both phases feature one-story buildings with slab foundations.
Current ownership operates and maintains the property efficiently, providing a good value for renters in the market. This creates and opportunity for the next investor to raise rents and add value with strategic improvements and management.
UNIT INFORMATION
| Unit | Type | Size | Rent |
|---|---|---|---|
| 14 UNITS | 1 BD/1 BA | 925 SF PER UNIT | $485 |
| 10 UNITS | 2 BD/1 BA | 1,531 SF | $575 |
| 3 UNITS | 3 BD/2 BA | 3,062 SF | $700 |
| 27 UNITS | 1,350 SF | $14,640 GROSS POTENTIAL RENT |
PROPERTY INFORMATION
| PIN | 8865589548 & 8865680203 |
| Tax Value | $878,033 |
| Taxes | $5,853.41 |
| Lot Size | 3.72 ACRES |
| Year Built | 1998 & 1987 |
| Exterior | VINYL, MASONITE |
| Floors | CARPET, VINYL, LVT |
| Foundation | SLAB |
| HVAC | CENTRAL AIR |
| Utilities | OWNER PAYS WATER AND TRASH |
| Legal Description | 317 CASWELL ST LOT E & 1407-1417 GRIMES ST LOT 2 |
| Appliances | RANGE, REFRIGERATOR, WASHER/DRYER CONNECTIONS |
| Zoning | TBD |
Agent Information Thomas T Furlow
Location Map
SPRINGDALE APARTMENTS – 27 UNITS IN BURLINGTON