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University Court Apartments 1620 Spring Garden St 17 Unit Apartment Building $2,070,000 ($121,765/Unit) 7.18% Cap Rate Greensboro, NC 27403
INVESTMENT HIGHLIGHTS
- Almost 90% Renovated
- Centrally located near UNC Greensboro, downtown, and major employers
- Under-Market Rents ready to increase cashflow!
- This property benefits from consistent rental demand and Triad market growth.
EXECUTIVE SUMMARY
The Kohler Team at KW Commercial is proud to exclusively represent the opportunity to purchase University Court Apartments! This property offers a rare chance to acquire a 17-unit apartment community in one of Greensboro’s strongest rental corridors. Nearly 90% renovated, ownership invested heavily through 2024–2025, delivering upgraded units and refreshed exteriors. Leasing surged since summer 2025, with most units now occupied under market rent, creating a prime value-add opportunity with a pro forma cap rate of 7.1%. Centrally located near UNC Greensboro, downtown, and major employers, the property benefits from consistent rental demand and Triad market growth.
For investors seeking scale, stability, and upside, University Court Apartments is an opportunity you do NOT want to miss!
For investors seeking scale, stability, and upside, University Court Apartments is an opportunity you do NOT want to miss!
DATA ROOM Click Here to Access
- Offering Memorandum
PROPERTY FACTS
| Price | $2,070,000 | Building Class | C |
| Price Per Unit | $121,765 | Lot Size | 1.29 AC |
| Sale Type | Investment | Building Size | 10,190 SF |
| Cap Rate | 7.18% | Average Occupancy | 88% |
| No. Units | 17 | No. Stories | 1 |
| Property Type | Multifamily | Year Built/Renovated | 1981/2025 |
| Property Subtype | Apartment | Parking Ratio | 3.34/1,000 SF |
| Apartment Style | Garden | ||
| Zoning | RM18 | ||
| Price | $2,070,000 |
| Price Per Unit | $121,765 |
| Sale Type | Investment |
| Cap Rate | 7.18% |
| No. Units | 17 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 1.29 AC |
| Building Size | 10,190 SF |
| Average Occupancy | 88% |
| No. Stories | 1 |
| Year Built/Renovated | 1981/2025 |
| Parking Ratio | 3.34/1,000 SF |
| Zoning | RM18 |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1.5 | 15 | $1,150 | 1,014 |
| 2+1 | 2 | $1,100 | 965 |
Walk Score®
Very Walkable (78)
PROPERTY TAXES
| Parcel Number | 0011759 | Improvements Assessment | $995,400 |
| Land Assessment | $278,200 | Total Assessment | $1,273,600 |
PROPERTY TAXES
Parcel Number
0011759
Land Assessment
$278,200
Improvements Assessment
$995,400
Total Assessment
$1,273,600
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University Court Apartments | 1620 Spring Garden St
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