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Multifamily

West End Lofts

1006 Rucker St, Greensboro, NC 27407

Listing Price: $2,950,000

Cap Rate
2.63%
Number of Units
18
Occupancy
100.0%
Price/Unit
$163,889
Price/Gross SF
$230.83
Gross SF
12,780

Investment Overview

Marcus & Millichap is pleased to present this exclusive listing of The West End Lofts in Greensboro, North Carolina. The West End Lofts are a newly renovated multifamily family complex conveniently located just off of Wendover Ave near Downtown Greensboro. This property consists of 18 loft apartments, with 16 of them being one and one and half bath lofts and 2, one bedroom and one-bathroom units. Constructed in 1999 of wood frame and vinyl siding, this complex sits on 1.27 acres in the Hewitt Neighborhood of the Southwest Corridor of Greensboro. This asset totals 11,670 square feet and unit sizes average 823 square feet. All the units have been recently renovated with Luxury Vinyl Plank flooring, Custom Cabinetry, Stainless Steel Appliances, Granite Countertops, and Brand-New Exterior Decking. Residents enjoy the close proximity to Fordham Blvd and the great retail centers of the Wendover Place and Wendover Village Shopping Center just off Interstate 40. National Retailers consisting of Walmart, Sams Club, Academy Sports, Dick Sporting Goods, Home Depot and CostCo. West End Lofts is conveniently located near major thoroughfares and offer strong potential for organic rent growth. In addition, this opportunity presents a significant value-add opportunity by bringing the rest of the units up to market. This asset has been completely renovated with modern upgrades as a result proven premium rents in a submarket that has strong demand for upgraded units. We believe this opportunity will be well-received by the investment market, particularly local, regional and national private investors looking to establish or expand a regional market presence. Continued growth within the Greensboro market, an increasingly vibrant downtown and solid employment gains continue to attract out-of-state capital to the Triad market. The areas positioning in the Carolinas, its accessibility to major interstates, and an extremely active cargo airport, have solidified the area as a major logistics and transportation hub for the Southeast. The area is home to many national companies including Lincoln Financial Group, Volvo, Qorvo, HAECO Americas, HondaJet, Procter & Gamble and TE Connectivity.

Investment Highlights

  • Completed Renovated with New LVP, Custom Cabinetry, Granite Countertops, New Fixtures, Stainless Steel Appliances
  • Proven Demand for Premium Rents for Upgraded Units Great Opportunity with Strong Rent Growth
  • Attractive Loft Style Units with Walk-In Closets

Exclusively Listed By

Multifamily

West End Lofts

Listing Price: $2,950,000

Cap Rate
2.63%
Number of Units
18
Occupancy
100.0%
Price/Unit
$163,889
Price/Gross SF
$230.83
Gross SF
12,780

Investment Highlights

  • Completed Renovated with New LVP, Custom Cabinetry, Granite Countertops, New Fixtures, Stainless Steel Appliances
  • Proven Demand for Premium Rents for Upgraded Units Great Opportunity with Strong Rent Growth
  • Attractive Loft Style Units with Walk-In Closets

Investment Overview

Marcus & Millichap is pleased to present this exclusive listing of The West End Lofts in Greensboro, North Carolina. The West End Lofts are a newly renovated multifamily family complex conveniently located just off of Wendover Ave near Downtown Greensboro. This property consists of 18 loft apartments, with 16 of them being one and one and half bath lofts and 2, one bedroom and one-bathroom units. Constructed in 1999 of wood frame and vinyl siding, this complex sits on 1.27 acres in the Hewitt Neighborhood of the Southwest Corridor of Greensboro. This asset totals 11,670 square feet and unit sizes average 823 square feet. All the units have been recently renovated with Luxury Vinyl Plank flooring, Custom Cabinetry, Stainless Steel Appliances, Granite Countertops, and Brand-New Exterior Decking. Residents enjoy the close proximity to Fordham Blvd and the great retail centers of the Wendover Place and Wendover Village Shopping Center just off Interstate 40. National Retailers consisting of Walmart, Sams Club, Academy Sports, Dick Sporting Goods, Home Depot and CostCo. West End Lofts is conveniently located near major thoroughfares and offer strong potential for organic rent growth. In addition, this opportunity presents a significant value-add opportunity by bringing the rest of the units up to market. This asset has been completely renovated with modern upgrades as a result proven premium rents in a submarket that has strong demand for upgraded units. We believe this opportunity will be well-received by the investment market, particularly local, regional and national private investors looking to establish or expand a regional market presence. Continued growth within the Greensboro market, an increasingly vibrant downtown and solid employment gains continue to attract out-of-state capital to the Triad market. The areas positioning in the Carolinas, its accessibility to major interstates, and an extremely active cargo airport, have solidified the area as a major logistics and transportation hub for the Southeast. The area is home to many national companies including Lincoln Financial Group, Volvo, Qorvo, HAECO Americas, HondaJet, Procter & Gamble and TE Connectivity.

Exclusively Listed By

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