1611 Fairfax Rd - Apartments FOR SALE


Greensboro, NC 27407- Random Woods
$3,500,000 USD
336-450-4651
1611 Fairfax Rd, Greensboro, NC for Sale
$3,500,000 USD
Apartments - FOR SALE
1/7
null | 6.37% Cap Rate

1611 Fairfax Rd
Greensboro, NC 27407
Random Woods


HIGHLIGHTS

  • 36-unit community comprised entirely of two-bedroom floor plans offering broad renter appeal
  • Consistent unit mix supports operational efficiency and streamlined management
  • Proven demand from Greensboro’s workforce housing renter base
  • Value-add opportunity through interior renovations and rental upside
  • Strategic location within the Piedmont Triad with access to major employment corridors
  • Stable in-place cash flow with potential for increased returns through a scalable upgrade program

OVERVIEW

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.

FOR SALE DETAILS

PRICE

$3,500,000 USD

PRICE/SF

$102 USD /SF

# OF UNITS

36

PRICE/UNIT

$97,222

CAP RATE

6.37%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Colony Pointe Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1973

PARKING SPACES

60

LAND DETAILS

LAND ACRES

2.65 AC

LAND SF

115,434 SF

ZONING

RM18

APN/PARCEL ID

0048875

ASK ABOUT THIS PROPERTY

Ryan ParrishMarcus & MillichapMore Info
336-450-4651

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Ryan ParrishMarcus & MillichapMore Info
336-450-4651

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.