Forest View

401 Lenoir Road, Morganton NC 28655

$ 940,000

Forest View

401 Lenoir Road, Morganton NC 28655
Asset Type
Garden Apartments
Date Sold
August 10, 2016
Price
$ 940,000
Per Unit
$30,000
Total Units
32
Year Built
1966
Market
Western North Carolina

Deal Highlights

Owner wanted to sell challenging property in smaller tertiary market
Needed value-add buyer willing to take on complete reposition
We implemented a sales strategy specifically targeting value-add investors open to tertiary markets
Strategy attracted out of state buyer
Closed at a sub-5% CAP Rate on existing financials

Location

Contact

TeamMembers-WayneBraren-Color-340x340

Wayne Braren

919-861-9730 x1
Wayne@ApartmentCore.com
TeamMembers-MikeSiciliano-Color-340x340

Mike Siciliano

919-861-9730 x2
Mike@ApartmentCore.com

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