SPRINGDALE APARTMENTS – 27 UNITS IN BURLINGTON

Price:

$1,620,000

Status:

Off Market

Address:

317 Caswell St, Burlington, NC 27217, USA

Overview:

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

UnitTypeRent
14 UNITS1 BD/1 BA$485
10 UNITS2 BD/1 BA$575
3 UNITS3 BD/2 BA$700
27 UNITS $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 Owner Financing NONE
Utilities OWNER PAYS WATER AND TRASH Appliances RANGE, REFRIGERATOR, WASHER/DRYER CONNECTIONS
Legal Description 317 CASWELL ST LOT E & 1407-1417 GRIMES ST LOT 2 Zoning TBD