Forest View

401 Lenoir Road, Morganton NC 28655

Forest View

401 Lenoir Road, Morganton NC 28655
ASSET TYPEGarden Apartments
DATE SOLDAugust 10, 2016
PRICE$ 940,000
PER UNIT$ 30,000
TOTAL UNITS32
YEAR BUILT1966
MARKETWestern 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

Wayne Braren

919.861.9730 x1
Wayne@ApartmentCore.com

Thinking about selling?

APARTMENT CORE is a multifamily brokerage firm dedicated to helping you capitalize on your multifamily sale so you can grow your wealth.  If you own an apartment property anywhere in North Carolina and would like to learn how to get the highest price in today’s aggressive market, give us a call at 919-861-9730.