$
2,810,000
Jonesville, NC
Multifamily
1986
Vintage
SF
36
Units
Acres
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Little Creek Apartments

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About the property

TrueRate was able to sell this partially renovated property at a value that was based solely on proof of concept of renovations leading to rent growth. The team gathered over 85 signed NDAs in a tertiary market with low transaction velocity - this is the largest of eight total trades over the past two years in this market. The property sold at a 6.83% cap rate in a location where investors typically seek 7%+ cap rate deals. TrueRate facilitated a smooth contract period and negotiated for a hard contract deposit day one. The price was not re-traded amidst changing and uncertain market conditions. TrueRate received multiple offers in writing and facilitated a competitive bidding process.

Property Information
Units:
36
Year Built:
Square Feed:
Occupancy:
Year Renovation:
Acres:
Investment Highlights
Contact the Team
Samuel R. Finkler
Vice President, Investment Sales
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Audley Clarke
Senior Associate, Investment Sales
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