27,833 Square Foot Multi-Family Space For Sale @ 3300 Beck St

Property tours will be given on Wednesday, June 14th by appointment ONLY. Please contact Nate Mcdaniel to schedule at nate.mcdaniel@marcusmillichap.com or 704-831-4638. Investment Highlights 26-Unit Apartment Community with value-add potential Property is currently ±92.3% leased at an average rent of ±$0.55/PSF ±27,833 Rentable SF located on ±2.51 Acre parcel Utilities paid for by tenants Great Accessibility to both Downtown and Interstate-85 Investment Overview 3300 Beck Street (the “Property”) is a 10-building, 26-unit, multi-family community located in the Greensboro, NC. Built in 1974, and recently improved, the Property consists of 26 individual units located on ±2.51 acres of land. It contains ±27,833 SF of rentable space. The units have averaged ±94.1% occupancy over the past year with rents varying from ±$500 to ±$677 monthly. Beck Street is just minutes away from North Carolina Agriculture and Technical University, and downtown Greensboro, with great accessibility to Interstate-85. This property offers a strong value-add opportunity with manageable expenses and a proposed increase in rent as a reasonable projection for the foreseeable future. The tenants pay for their monthly utility usage, contributing to the lower expense to income ratio. The city of Greensboro is centrally located in the state of North Carolina, ±1.5 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 ±285,342 in 2015, and the combined statistical area, which includes both High Point and Winston-Salem, was ±1,599,477. The city is deeply rooted in the textile, tobacco, and furniture industries due to its location in the state. Greensboro is also the headquarters of the Atlantic Coast Conference, Honda Aircraft Company, Mack Trucks, Volvo Trucks of North America, The Fresh Market, and Cook Out, along with being a center of operations for Lincoln Financial Group. Major universities in the area include the University of North Carolina at Greensboro and North Carolina A&T State University. 3300 Beck Street represents an excellent value-add opportunity through the lease up of the remaining vacant units and proposed increase in rents.