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Multifamily

Spring Valley Townhomes

3129 Spring Valley Dr, Gastonia, NC 28052

Listing Price: Request For Offer

Number of Units
82
Gross SF
64,740

Investment Overview

Marcus & Millichap is please to exclusively present, to qualified investors, Spring Valley Townhomes, an 82-unit townhouse style community located in Gastonia, North Carolina. Minutes from 85 and major retailers in Gastonia, this asset is comprised of 20 two bedroom / one bathroom garden style units, 28 two bathroom / one bathroom townhome style units, and 34 three bedroom / one bathroom townhome style units. Current ownership has renovated approximately 75% of the units with LVT flooring, Formica countertops, new cabinetry, and appliance packages. Ownership replaced all roofs and renovated the onsite office in 2019. New ownership has an opportunity to continue pushing rents through the proven value-add program, with a potential boost in NOI of $120k. Investors also have the opportunity to add an additional income stream by submetering all units and recapturing another $30k in income. The continued expansion of Gastonia and Gaston County, as well as the completion of the new Catawba Two Kings Casino, will lead to a rise in population and organic rent growth.

Investment Highlights

  • Recently Renovated Asset with Limited Deferred Maintenance
  • Located in Growth Corridor only 30 minutes West of Charlotte
  • Opportunity to Boost NOI Through Renovation and Organic Rent Growth

Exclusively Listed By

Multifamily

Spring Valley Townhomes

Listing Price: Request For Offer

Number of Units
82
Gross SF
64,740

Investment Highlights

  • Recently Renovated Asset with Limited Deferred Maintenance
  • Located in Growth Corridor only 30 minutes West of Charlotte
  • Opportunity to Boost NOI Through Renovation and Organic Rent Growth

Investment Overview

Marcus & Millichap is please to exclusively present, to qualified investors, Spring Valley Townhomes, an 82-unit townhouse style community located in Gastonia, North Carolina. Minutes from 85 and major retailers in Gastonia, this asset is comprised of 20 two bedroom / one bathroom garden style units, 28 two bathroom / one bathroom townhome style units, and 34 three bedroom / one bathroom townhome style units. Current ownership has renovated approximately 75% of the units with LVT flooring, Formica countertops, new cabinetry, and appliance packages. Ownership replaced all roofs and renovated the onsite office in 2019. New ownership has an opportunity to continue pushing rents through the proven value-add program, with a potential boost in NOI of $120k. Investors also have the opportunity to add an additional income stream by submetering all units and recapturing another $30k in income. The continued expansion of Gastonia and Gaston County, as well as the completion of the new Catawba Two Kings Casino, will lead to a rise in population and organic rent growth.

Exclusively Listed By

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