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Multifamily

Randleman Road Apartments

11031 Randleman Rd, Randleman, NC 27317

Listing Price: Request For Offer

Number of Units
32
Occupancy
43.0%

Investment Overview

Marcus & Millichap is pleased to present the Randleman Road Apartments. Conveniently located off Interstate 73 and just 17 minutes from Downtown Greensboro, this 32-unit property provides residents with an affordable option combined with modern interiors. This was originally an extended-stay hotel with 25 hotel units, 5-Mobile Homes, and one Duplex. There is also an onsite retail space. The upside potential of this property can be realized by stabilizing all units with long-term leases and maximizing rents. Additionally, optimization can be achieved by adding kitchenettes to the few units still in a hotel configuration.

Residents of Randleman Road Apartments are only 17 minutes away from the Toyota Mega site major area employer expected to open in 2025. This area has the potential for appreciation after this major economic driver opens its doors.

Randleman Road Apartments enjoys the benefits of being nestled in between Downtown Asheboro and Downtown Greensboro and only a few minutes drive to High Point, Winston-Salem, Charlotte, and Durham. The continued development of this secondary market makes Randleman a highly desired area due to quick access to several major metropolitan areas and the positioning to leverage the organic rent growth potential as an economical alternative to the Greensboro market, which provides attractive returns potential for the life cycle of this investment opportunity.

Investment Highlights

  • Conveniently located just 17 minutes from Downtown Greensboro.
  • Well-positioned to be an Economic Alternative for residents looking to commute to Greensboro and Asheboro
  • Significant Value adds opportunities to increase the NOI starting as soon as year one.
  • Assumable 4.5% mortgage on the property with 5 years remaining

Exclusively Listed By

Financing By

Multifamily

Randleman Road Apartments

Listing Price: Request For Offer

Number of Units
32
Occupancy
43.0%

Investment Highlights

  • Conveniently located just 17 minutes from Downtown Greensboro.
  • Well-positioned to be an Economic Alternative for residents looking to commute to Greensboro and Asheboro
  • Significant Value adds opportunities to increase the NOI starting as soon as year one.
  • Assumable 4.5% mortgage on the property with 5 years remaining

Investment Overview

Marcus & Millichap is pleased to present the Randleman Road Apartments. Conveniently located off Interstate 73 and just 17 minutes from Downtown Greensboro, this 32-unit property provides residents with an affordable option combined with modern interiors. This was originally an extended-stay hotel with 25 hotel units, 5-Mobile Homes, and one Duplex. There is also an onsite retail space. The upside potential of this property can be realized by stabilizing all units with long-term leases and maximizing rents. Additionally, optimization can be achieved by adding kitchenettes to the few units still in a hotel configuration. Residents of Randleman Road Apartments are only 17 minutes away from the Toyota Mega site major area employer expected to open in 2025. This area has the potential for appreciation after this major economic driver opens its doors. Randleman Road Apartments enjoys the benefits of being nestled in between Downtown Asheboro and Downtown Greensboro and only a few minutes drive to High Point, Winston-Salem, Charlotte, and Durham. The continued development of this secondary market makes Randleman a highly desired area due to quick access to several major metropolitan areas and the positioning to leverage the organic rent growth potential as an economical alternative to the Greensboro market, which provides attractive returns potential for the life cycle of this investment opportunity.

Exclusively Listed By

Financing By

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