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Browse More Listings in Multifamily For Sale, Mooresville, NC or North Carolina

Multifamily Property For Sale

Country Club Apartments

900 W. Wilson Ave, Mooresville, NC 28117

Price:
$5,675,000
No. Units:
110
Building Size:
107,000 SF
Price/Unit:
$51,590.91
Property Type:
Multifamily
Property Sub-type:
Garden/Low-Rise
Property Use Type:
Investment
Cap Rate:
7.50%
Occupancy:
92%
No. Stories:
2
Year Built:
1988
Lot Size:
11.45 AC
Find Out More...

Last Verified 10/7/2009 Listing ID 16190961

Highlights

Extensive exterior and interior renovations in 2008. Ocupancy is stabilized. Property is updated and in good condition.
Less than 1 mile to new off-ramp on I-77 near Lowes Corporate Campus.
2 miles to Nascar Technical Institute. 2 miles to Lake Norman.

Local job expansion. Upside revenue growth.
Located close to commercial development in growth corridor.

Description

Country Club Apartments is a 110-unit community located inside the town limits of Mooresville in Iredell County, North Carolina. The site contains 10 apartment buildings, a leasing office/fitness/laundry center, playground, tennis court, and pool on 11.45 acres. Extensive exterior and interior renovations in 2008.

The site is across the road from the fairways of Mooresville Golf Course and has easy access to Hwy 21 and I-77. It's close to Lake Norman, Langtree at The Lake, Lowes Corporate Campus, Lake Norman Regional Hospital, Nascar Technical Institute, and heavy commercial develpment. Less than a mile from new exit 35 on I-77.

Financial Summary

Unit Mix Information

Proforma
Net Operating Income
$425,000

Description	No. Units	Avg. Mo. Rent	Sq. Ft.
2br/1ba	110	$650	940

Map of 900 W. Wilson Ave, Mooresville, NC 28117 (Iredell County)

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Presented by

Carolina Apartment Realty

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Contact Listing Broker

John Edwards (843) 222-8776

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Created 4/13/2009

Additional Information for 900 W Wilson Avenue, Mooresville, NC 28117

Active For Sale - 1 Listing
Active For Lease - 0 Listing
Previously Listed - 0 Historic Listing
Sales Comparables Available - 0 RecentSales Record

View additional information for the property view other currently active listings, previous listings, sales comparables, public records, and county records data for this address.

The information above has been obtained from sources believed reliable. While we do not doubt its accuracy we have not verified it and make no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions, or estimates used are for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial, and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.

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Multifamily Property For Sale - Country Club Apartments

900 W. Wilson Ave, Mooresville, NC, 28117