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Colony Pointe Apartments 1611 Fairfax Rd 36 Unit Apartment Building $4,774,840 CAD ($132,634 CAD/Unit) 6.37% Cap Rate Greensboro, NC 27407
Investment Highlights
- 36-unit community comprised entirely of two-bedroom floor plans offering broad renter appeal
- Proven demand from Greensboro’s workforce housing renter base
- Strategic location within the Piedmont Triad with access to major employment corridors
- Consistent unit mix supports operational efficiency and streamlined management
- Value-add opportunity through interior renovations and rental upside
- Stable in-place cash flow with potential for increased returns through a scalable upgrade program
Executive Summary
Marcus & Millichap is pleased to present Colony Pointe Apartments, a 36-unit multifamily community comprised entirely of two-bedroom floor plans. Built in 1973, the property caters to Greensboro’s strong base of workforce renters seeking affordability, functionality, and convenient access to major employment corridors. The consistent two-bedroom layout promotes operational efficiency, broad tenant appeal, and stable cash flow.
Colony Pointe benefits from Greensboro’s diverse economic base, supported by key sectors including healthcare, education, manufacturing, and logistics. Situated within the Piedmont Triad with access to major transportation corridors, the area continues to experience steady demand for attainable housing, reinforcing long-term investment fundamentals.
The property also offers meaningful value-add potential through interior upgrades. Select renovations present the opportunity to achieve rental premiums while maintaining affordability. The uniform floor plan allows for an efficient and scalable renovation program, enhancing both returns and overall asset value.
Colony Pointe benefits from Greensboro’s diverse economic base, supported by key sectors including healthcare, education, manufacturing, and logistics. Situated within the Piedmont Triad with access to major transportation corridors, the area continues to experience steady demand for attainable housing, reinforcing long-term investment fundamentals.
The property also offers meaningful value-add potential through interior upgrades. Select renovations present the opportunity to achieve rental premiums while maintaining affordability. The uniform floor plan allows for an efficient and scalable renovation program, enhancing both returns and overall asset value.
Data Room Click Here to Access
- Offering Memorandum
Property Facts
| Price | $4,774,840 CAD | Building Class | C |
| Price Per Unit | $132,634 CAD | Lot Size | 2.65 AC |
| Sale Type | Investment | Building Size | 34,480 SF |
| Cap Rate | 6.37% | Average Occupancy | 100% |
| No. Units | 36 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1973 |
| Property Subtype | Apartment | Parking Ratio | 1.83/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | RM18 | ||
| Price | $4,774,840 CAD |
| Price Per Unit | $132,634 CAD |
| Sale Type | Investment |
| Cap Rate | 6.37% |
| No. Units | 36 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 2.65 AC |
| Building Size | 34,480 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1973 |
| Parking Ratio | 1.83/1,000 SF |
| Zoning | RM18 |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Tile Floors
- Kitchen
- Hardwood Floors
- Refrigerator
- Oven
- Range
- Tub/Shower
- Carpet
Site Amenities
- 24 Hour Access
- Laundry Facilities
- Property Manager on Site
- Maintenance on site
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 36 | - | 691 |
1 1
Somewhat walkable
30/100
Exceptionally drivable
100/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Number | 0048875 | Improvements Assessment | $2,532,792 CAD |
| Land Assessment | $326,843 CAD | Total Assessment | $2,859,634 CAD |
Property Taxes
Parcel Number
0048875
Land Assessment
$326,843 CAD
Improvements Assessment
$2,532,792 CAD
Total Assessment
$2,859,634 CAD
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Colony Pointe Apartments | 1611 Fairfax Rd
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