Wendover Ridge Apartments

Property Description

Brown Investment Properties, Inc. is pleased to offer Wendover Ridge Apartments in Greensboro, NC. This 36-unit property was built in 2000, and it consists of one   3-story garden style brick building with interior hallways and stairways. There are 24 one-bedroom units and 12 two-bedroom units, and it is currently at 100% occupancy. The building is on a 2.08-acre parcel at the end of a quiet street in the Hewitt neighborhood area of Greensboro. It is adjacent to Wendover Avenue; however, access is from Spring Garden Street and Holden Road. The property is 5 miles southwest of downtown Greensboro, and 12 miles southeast of the Piedmont Triad International Airport. The University of North Carolina at Greensboro (UNCG) is 2.9 miles away and there are several small shops within a 10-minute walk. Also nearby are restaurants, cafés, and pubs, including the original Hops Burger Bar. TripAdvisor ranked Hops #1 in their 2015 list of "America's Best Burger Restaurants".

Currently, the one-bedroom units rent for $725 per month and the two-bedroom units rent for $825 per month. Additional income is generated with pet fees, cable package fees, appliance rentals and late fees. Average rents for the area for a one-bedroom unit are $747 per month and $835 for a two-bedroom unit. Wendover Ridge Apartments provides an investor with a proven stable property with historically low vacancy rates, and a value-add opportunity with rental rates.

 

Property Details
Property Type Multifamily: Conventional
Zoning RM-18
Address 514 Coapman Street
Greensboro, NC 27407
County Guilford
For Sale/Lease Sale
City Water Yes
City Sewer Yes
Total Sales Price $3,400,000.00
Total SF Available 33,000
Property Documents Brochure

Property Broker

Tim Knowles

Contact: tknowles@bipinc.com

Phone: 336.541.5508

Property Map

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