Investment Overview

Marcus & Millichap is pleased to present Randleman Road Apartments, ideally located just off Interstate 73 and a short 17-minute drive from Downtown Greensboro. This property consists of 32 units offering a diverse mix of studio, one-bedroom, and two-bedroom multifamily units, along with mobile homes and retail space. The property features assumable debt at 4.5% with 5 years remaining. Potential upside includes stabilizing all units with long-term leases and maximizing rents, as well as converting a few remaining hotel-style units into apartments with kitchenettes to optimize rental income. Residents of Randleman Road Apartments will benefit from convenient access to the Toyota Mega site, a major employer expected to open in 2025, enhancing the area's economic vitality and potential property appreciation. Positioned between Downtown Asheboro and Greensboro, and within minutes of High Point, Winston-Salem, Charlotte, and Durham, the property capitalizes on its strategic location as an affordable housing option in a rapidly developing secondary market. This positioning offers attractive returns potential throughout the investment lifecycle.