29% Cash on Cash-10 Unit "Class C" Apartment-Greensboro, NC
Apartment complex comprising of 1 building totaling 10 units. This C-Class property is located in a redeveloping neighborhood surrounded by single family, duplex and fourplex properties. Apartments are currently 70% leased.
The building itself has little deferred maintenance making this a turnkey project poised for immediate cash flow distributions. These buildings are attractively designed and present much lower maintenance costs than similarly graded investments due to recent renovations, such as maintenance free brick facade. Rents are under market with the potential to increase rents immediately.
Just adding management, maintenance staff and raise rents to increase the value cash flow immediately. The resulting re-positioning will create an asset that provides both cash flow and positive equity growth.
Located in Greensboro, Greensboro, has a population of 287,019 people with a median age of 34.3 and a median household income of $45,064. Between 2015 and 2016 the population of Greensboro, NC grew from 285,344 to 287,019, a 0.59% increase and its median household income grew from $44,934 to $45,064, a 0.29% increase. The median property value in Greensboro, NC is $152,100, and the homeownership rate is 48.9%. Greensboro boasts a strong rental market with median. The average rent for an apartment in Greensboro average rent was $838.
Greensboro, North Carolina, is one of those places that's big enough to have everything you need but small enough for you to regularly bump into people you know. People who live here love it and say they have no reason to leave. Those who do leave will often return home to Greensboro to raise their families.