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.

Unit Information

UnitTypeSizeRent
61 UNITS 1BD/1BA600 SF$795 (AVG)
40 UNITS 2BD/1BA900 SF$875 (AVG)
142 UNITS2BD/1.5BA1,000 SF$980 (AVG)
52 UNITS 3BD/2BA1,300 SF$1,060 (AVG)
11 UNITS3BD/2.5BA1,400 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