TRAILS END – 306 UNITS IN BURLINGTON, NC

PRICE:
$ 44,500,000
STATUS:
Sold
ADDRESS:
34 Sherry Dr, Burlington, NC 27215, USA
OVERVIEW:

SOLD 2/28/2022 FOR $44,500,000
$145,425 per unit

Deaton Investment Real Estate represented the buyer and was the sole broker in this off-market transaction. Trails End Apartments is a 306-unit, garden-style apartment community located in Burlington, NC. Built in 1970 and 1982, the property offers a mix of one-, two-, and three-bedroom floor plans with amenities that include two community pools, playground areas, laundry facilities, a clubhouse, and newly constructed garages. This offering is a great opportunity for a buyer to continue a proven-value add strategy for an asset in a thriving sub-market.

Link To Tax Records
UNIT INFORMATION
Unit Type Size Rent
61 UNITS 1BD/1BA 600 SF $795 (AVG)
40 UNITS 2BD/1BA 900 SF $875 (AVG)
142 UNITS 2BD/1.5BA 1,000 SF $980 (AVG)
52 UNITS 3BD/2BA 1,300 SF $1,060 (AVG)
11 UNITS 3BD/2.5BA 1,400 SF $1.200 (AVG)
PROPERTY INFORMATION
PIN 8864540019, 8864534934
Tax Value $9,611,530 / $527,209
Taxes $66,581.10
Lot Size 25.9 ACERS
Year Built 1970 / 1982
Exterior BRICK & VINYL
Floors CARPET, VIYNL
Foundation SLAB
HVAC CENTRAL A/C, HEAT PUMPS
Utilities OWNER PAYS WATER
Legal Description MORAN ST LOT 1, 3BL MORAN ST/DENISE DR
Appliances RANGE, REFRIGERATOR, DISHWASHER, W/D CONNECTONS (FOR SOME UNITS)
Sold Date 2022-02-28
Zoning MF-A

Location Map

TRAILS END – 306 UNITS IN BURLINGTON, NC
Address: 34 Sherry Dr, Burlington, NC 27215, USA Price: $ 44,500,000 Unit: 306