THE OAKS AT LINCOLNTON APARTMENTS – 111 UNITS IN LINCOLNTON, NC

PRICE:
$ 17,750,000
STATUS:
Sold
ADDRESS:
101 Arbor Run Dr, Lincolnton, NC 28092, USA
OVERVIEW:

SOLD 6/16/2022 FOR $17,750,000
$159,910 per unit 

Deaton Investment Real Estate represented the seller and was the sole broker in this off-market transaction. Conveniently located within the Charlotte MSA, The Oaks at Lincolnton is positioned to benefit significantly from the rapid job growth in the surrounding area. Given the current supply constraints for residential housing options in this market, coupled with increasing population, this asset has very low risk pertaining to vacancy. The asset boasted 100% occupancy at the time of sale.

Built in 2002, the property features one-, two, and three-bedroom floorplans. Amenities include a clubhouse, fitness center, laundry facilities, basketball court and picnic areas. The Oaks at Lincolnton presents the opportunity to increase income through organic upside and strategic value-add improvements.

Link To Tax Records
UNIT INFORMATION
Unit Type Size Rent
20 UNITS 1BD/1BA 725 SF $870 (AVG.)
79 UNITS 2BD/2BA 975 SF $964 (AVG.)
12 UNITS 3BD/2BA 1,185 SF $1,129 (AVG.)
PROPERTY INFORMATION
PIN 3632299570
Tax Value $6,365,058
Taxes $89,719.74
Lot Size 10.65 ACRES
Year Built 2002
Exterior BRICK, VINYL
Floors CARPET, VINYL, LVP
Foundation SLAB
HVAC CENTRAL A/C, HEAT PUMPS
Utilities OWNER PAYS WATER
Legal Description GEORGETOWN LD HWY321
Appliances RANGE, REFRIGERATOR, DISHWASHER, MICROWAVE, W/D CONNECTIONS
Sold Date 2022-06-16
Zoning O-I CU

Location Map

THE OAKS AT LINCOLNTON APARTMENTS – 111 UNITS IN LINCOLNTON, NC
Address: 101 Arbor Run Dr, Lincolnton, NC 28092, USA Price: $ 17,750,000 Unit: