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Multifamily

Cantebury Court

500 N Church St, Asheboro, NC 27203

Listing Price: $1,600,000

Cap Rate
5.23%
Number of Units
16
Price/Unit
$100,000
Price/Gross SF
$117.65
Gross SF
13,600

Investment Overview

Marcus & Millichap is pleased to present the exclusive opportunity to acquire Cantebury Court Apartments in Asheboro, North Carolina. Located just off I-74 the property was constructed in 1979 and consists of 16, two-bedroom, one bath units situated on 0.82+/- acres. In a submarket that is experiencing strong demand for upgraded units, current ownership has performed moderate upgrades to ten of the units, resulting in a monthly rental increases of over 25 percent. The ability to increase rents to surrounding properties along with the ability to upgrade the remaining units provide additional upside opportunity for future ownership. Cantebury Court Apartments offers tenants easy accessibility to Greensboro along with the Downtown Asheboro and Randolph Hospital. The property is also in close proximity to the North Carolina Zoo, one of the world’s largest natural habitat zoos. Continued growth within the Asheboro market, along with the proximity to downtown Greensboro 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 Energizer, Klaussner Furniture, MAS-Acme, Technimark and Post Consumer Brands.

Investment Highlights

  • Solid Demographics in a Strong Triad Submarket
  • Strong Location, Convenient to Major Thoroughfares and Interstates
  • Upside Potential Through Taking Advantage of Recent Upgrades
  • Well Maintained Property with the Demonstrated Ability to Push Rents

Exclusively Listed By

Listing Price: $1,600,000

Cap Rate
5.23%
Number of Units
16
Price/Unit
$100,000
Price/Gross SF
$117.65
Gross SF
13,600

Investment Highlights

  • Solid Demographics in a Strong Triad Submarket
  • Strong Location, Convenient to Major Thoroughfares and Interstates
  • Upside Potential Through Taking Advantage of Recent Upgrades
  • Well Maintained Property with the Demonstrated Ability to Push Rents

Investment Overview

Marcus & Millichap is pleased to present the exclusive opportunity to acquire Cantebury Court Apartments in Asheboro, North Carolina. Located just off I-74 the property was constructed in 1979 and consists of 16, two-bedroom, one bath units situated on 0.82+/- acres. In a submarket that is experiencing strong demand for upgraded units, current ownership has performed moderate upgrades to ten of the units, resulting in a monthly rental increases of over 25 percent. The ability to increase rents to surrounding properties along with the ability to upgrade the remaining units provide additional upside opportunity for future ownership. Cantebury Court Apartments offers tenants easy accessibility to Greensboro along with the Downtown Asheboro and Randolph Hospital. The property is also in close proximity to the North Carolina Zoo, one of the world’s largest natural habitat zoos. Continued growth within the Asheboro market, along with the proximity to downtown Greensboro 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 Energizer, Klaussner Furniture, MAS-Acme, Technimark and Post Consumer Brands.

Exclusively Listed By

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