Skip to main content

Multifamily

Maple Ridge Apartments

410 S Ayersville Rd, Mayodan, NC 27027

Listing Price: $1,325,000

Cap Rate
5.78%
Number of Units
28
Price/Unit
$47,321
Price/Gross SF
$76.48
Gross SF
17,325

Investment Overview

Marcus and Millichap is pleased to present the Maple Ridge Apartments in Mayodan, NC. This is a multifamily opportunity consists of 28 units with a mix of one-bedroom, two-bedroom, and three-bedroom units. The complex was constructed in 1991 of brick veneer and is situated on 1.77+/- acres. The property has central heating & air, and the utilities are separately metered for both water and electricity. Tenants are responsible for all utilities. For convenience and additional cashflow, there are also storage units for each unit that could be updated and rented as well. This property offers amenities such as a laundry facility for the convenience of the residents, that is contracted and managed by a third party. Currently the rents range from $385 to $725. This opportunity offers new ownership the ability to stabilize the rents at market rate and take advantage of the growth of the Triad which will increase revenue and maximize profits. The Maple Ridge Apartments are conveniently located only 35 Miles from Greensboro, NC, 32 Miles to Winston Salem, NC and 36 Miles to High Point, NC. Mayodan’s major retailers include Lowe’s Home Improvement and Walmart Supercenter. Popular activities in Mayodan include camping, hiking, and fishing. The two most popular parks are Farris Memorial Park and Mayo River State Park. Mayodan is a great place for tenants looking for low cost of living with close proximity to the Downtown Greensboro and ability to enjoy the outdoors.

Investment Highlights

  • Ability to Increase Rent Immediately
  • Storage Units for All Units
  • Priced Under $60,000 a Unit

Exclusively Listed By

Broker of Record

  • Benjamin Yelm

    Regional Manager

    (843) 952-2222

    License(s) NC: 303785

    North Carolina

Listing Price: $1,325,000

Cap Rate
5.78%
Number of Units
28
Price/Unit
$47,321
Price/Gross SF
$76.48
Gross SF
17,325

Investment Highlights

  • Ability to Increase Rent Immediately
  • Storage Units for All Units
  • Priced Under $60,000 a Unit

Investment Overview

Marcus and Millichap is pleased to present the Maple Ridge Apartments in Mayodan, NC. This is a multifamily opportunity consists of 28 units with a mix of one-bedroom, two-bedroom, and three-bedroom units. The complex was constructed in 1991 of brick veneer and is situated on 1.77+/- acres. The property has central heating & air, and the utilities are separately metered for both water and electricity. Tenants are responsible for all utilities. For convenience and additional cashflow, there are also storage units for each unit that could be updated and rented as well. This property offers amenities such as a laundry facility for the convenience of the residents, that is contracted and managed by a third party. Currently the rents range from $385 to $725. This opportunity offers new ownership the ability to stabilize the rents at market rate and take advantage of the growth of the Triad which will increase revenue and maximize profits. The Maple Ridge Apartments are conveniently located only 35 Miles from Greensboro, NC, 32 Miles to Winston Salem, NC and 36 Miles to High Point, NC. Mayodan’s major retailers include Lowe’s Home Improvement and Walmart Supercenter. Popular activities in Mayodan include camping, hiking, and fishing. The two most popular parks are Farris Memorial Park and Mayo River State Park. Mayodan is a great place for tenants looking for low cost of living with close proximity to the Downtown Greensboro and ability to enjoy the outdoors.

Exclusively Listed By

Broker of Record

  • Benjamin Yelm

    Regional Manager

    (843) 952-2222

    License(s): NC: 303785

    North Carolina

MM Texture Background
MM Textured Background Lower