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1794 Poplar Grove Rd 9 Unit Apartment Building $3,629,392 CAD ($403,266 CAD/Unit) 6% Cap Rate Boone, NC 28607
INVESTMENT HIGHLIGHTS
- -In unit stacked washer & dryer
- -Each Bedroom has a full bath ensuite or private half bath with a shared tub/shower
- -Parking is available at this complex for an additional $25 per month
- -Convenient to AppalCART stop
- -Tenants are responsible for water/sewer and electric
EXECUTIVE SUMMARY
Wilson Kibler is pleased to present the listing of Poplar Point, located at 1794 Poplar Grove in Boone, NC. The property offers investors the opportunity to acquire a stabilized asset with value-add upside. Poplar Point is a three-story, garden-style student housing community near Appalachian State University, consisting of three 2-bedroom units and six 3-bedroom units (24 total beds) leased by the bedroom. The property features wood-frame, vinyl-siding exteriors, pitched roofs, covered stair towers with balconies, and ample surface parking. With its highly accessible location and proximity to both campus and community amenities, 1794 Poplar Grove is ideally situated to capture demand in one of the most resilient student housing markets in the region.
PROPERTY FACTS
| Price | $3,629,392 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $403,266 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.77 AC |
| Cap Rate | 6% | Building Size | 7,200 SF |
| No. Units | 9 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 2000 |
| Property Subtype | Apartment | ||
| Zoning | BOB3 | ||
| Price | $3,629,392 CAD |
| Price Per Unit | $403,266 CAD |
| Sale Type | Investment |
| Cap Rate | 6% |
| No. Units | 9 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.77 AC |
| Building Size | 7,200 SF |
| No. Stories | 3 |
| Year Built | 2000 |
| Zoning | BOB3 |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Dishwasher
- Disposal
- Microwave
- Kitchen
- Refrigerator
- Oven
- Range
SITE AMENITIES
- 24 Hour Access
- Tenant Controlled HVAC
- Smoke Free
- Shuttle To Campus
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+2 | 3 | - | - |
| 3+3 | 6 | - | - |
1 1
PROPERTY TAXES
| Parcel Number | 2900-35-5528-000 | Improvements Assessment | $1,594,434 CAD |
| Land Assessment | $319,688 CAD | Total Assessment | $1,914,122 CAD |
PROPERTY TAXES
Parcel Number
2900-35-5528-000
Land Assessment
$319,688 CAD
Improvements Assessment
$1,594,434 CAD
Total Assessment
$1,914,122 CAD
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1794 Poplar Grove Rd
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