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 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. |
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 | Owner Financing | NONE |
| Utilities | OWNER PAYS WATER | Appliances | RANGE, REFRIGERATOR, DISHWASHER, W/D CONNECTONS (FOR SOME UNITS) |
| Legal Description | MORAN ST LOT 1, 3BL MORAN ST/DENISE DR | Zoning | MF-A |
| Sold Date | 02/28/2022 |
