Forest View

401 Lenoir Road, Morganton NC 28655

Forest View

401 Lenoir Road, Morganton NC 28655
ASSET TYPEGarden Apartments
SOLDAugust 10, 2016
PRICE$ 940,000
PRICE 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

Contact Info

Wayne Braren

919.861.9730 x1
Wayne@ApartmentCore.com