3203-3231 Orange St
Greensboro, NC 27405

Property tours are available on November 7th and 8th by appointment ONLY. Please contact Eric Johnson to schedule at eric@waterstonemfg.com or 704-239-3968 or Brian Gonzalez at bgonzalez@ten-x.com or 305-498-0427. Investment Highlights: 100 unit apartment community located in Greensboro, NC 11 buildings with ninety-six (96) 1 Bed/1 Ba and four (4) 2 Bed/2 Ba apartments Currently ñ100% leased and renting below comparable market rents Immediate value add through increase of current below market rents to market rates Roof replaced in 2013 and stairwells replaced in 2016 Easy access to Hwy 29 and downtown Greensboro Minutes away from The University of NC at Greensboro, Piedmont Triad International Airport, and numerous area amenities Dense demographics with 2017 Population of ñ145,636 within a 5-mile radius Investment Overview: Summit Station Apartments is a 100-unit apartment community located at 3203 - 3231 Orange Street in Greensboro, NC. Greensboro, NC. This Property offers investors with immediate value add/income growth opportunities through an increase in current rents to market rates. Summit Station Apartments are currently 100% occupied and contain 100 apart Summit Station Apartments are currently 100% occupied and contain 100 apartments with a total of ñ63,134 rentable SF. Built in 1987, the Property offers 11 buildings containing ninety-six (96) 1 Bedroom/1 Bathroom totaling ñ628 SF, one (1) 2 Bed/2 Bath totaling ñ630 SF and three (3) 2 Bed/2 Bath totaling ñ730 SF. The apartments include an oven, range and refrigerator as well as washer/dryer hookup in each apartment. Rental rates include water, sewer and pest control and tenants are responsible for utilities. Additionally, the seller had all the roofs at the property were replaced in 2013 (warranty within DD vault), and new stairwells were completed in 2016 with load bearing posts. The city of Greensboro is centrally located in the state of North Carolina, ñ1.5 hours Northeast of Charlotte. Situated at the intersection of Interstate-85 and Interstate-40, the city offers great accessibility throughout the state and the eastern seaboard. Greensboro's population was estimated to be ñ285,342 in 2015, and the combined statistical area, which includes both High Point and Winston-Salem, was ñ1,599,477. The city is deeply rooted in the textile, tobacco, and furniture industries due to