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Exclusive & Confidential Offering

440 West Market Street | Greensboro, NC 27401 | 336-379-8771

Rick Baker, CCIM

Direct: 336-544-8013

Cell: 336-549-6083

[email protected] Commercial Sales & Leasing, Property Management, Development,

Apartments, Office, Industrial, Flex, Retail, Land

Russ Parmele, CCIM

Direct: 336-544-8006

Cell: 336-383-9820

[email protected]

COMMERCIAL REAL ESTATE

FOR SALE

Summer Pointe Apartments

440 West Market Street | Greensboro, NC | (336) 379-8771 | www.bipinc.com

Vince Howard [email protected] M: 336.655.1888 P: 336.724.1715

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Exclusive & Confidential

Burlington, NC

Investment Offering

Rick Baker CCIM, Broker [email protected] P: 336.544-8013 M: 336.549-6083

Great opportunity to purchase a 29-unit apartment complex in Burlington, NC. All 29 units

are currently occupied. This is a value added property with great potential.


Overview

Marketed by Brown Investment Properties Inc. 2 www.bipinc.com

Summer Pointe Apartments in Burlington, NC is a great opportunity for an

investor who is looking for a smaller complex with 100% occupancy, minimal to no deferred maintenance, in

a quiet residential family oriented neighborhood, and with professional management in place.

Summer Pointe Apartments are cash flowing and have value add potential to increase income. $29,822 was

invested in 2017 in CAPX improvements to the property.

Built in 1993 Summer Pointe Apartments consist of 29 garden style units (17 one-bedroom/one bath units and

12 two-bedroom/one-bath units) spread between five one story buildings.

All buildings are of wood frame construction on concrete slabs. Exteriors are of low maintenance vinyl with

pitched asphalt roofs and metal exterior doors.

One bedroom/one-bath units are 750 sf and two bedroom/one-bath units are 850 sf.

Interior finishes are dry wall with carpet or vinyl wood (LDP) floors. Plumbing is copper water lines and PVC

or PEX discharge lines. Electrical is copper. The complex is total electric and all units have central HVAC.

Tenants pay for electricity and landlord pays for water, sewer and trash pickup.

Kitchens are equipped with a frost-free refrigerator, electric stove/range combination with exhaust hood,

stainless steel double sinks, laminate counter tops and washer/dryer hookups. Bathrooms have vinyl floors,

resin countertops and fiberglass tub and shower combinations.

For details on Financials and a Current Rent Roll, please visit our online information vault at:

http://www.bipinc.com/client-signup/summer-pointe-apartments—-confidentiality-agreement

To access, hit the Control button and click on the link above, register for an account, sign the Confidentiality Agreement and then

proceed to the vault. If you have any questions or problems with the link, please contact Rick at 336-544-8013 or email him at

rbaker @bipinc.com

http://www.bipinc.com/client-signup/summer-pointe-apartments—-confidentiality-agreement


$1,950,000

Property Description

Address: 1410 Cleveland Avenue, Burlington, NC

Units: 29 Units : 17 (1-bedroom/1-bath) and 12 (2-bedroom/1-bath) Garden style apartments

Site Size: 4.08 +/- acres Parking: 58 spaces

440 West Market Street | Greensboro, NC | (336) 379-8771 | www.bipinc.com




Location Highlights Summary:

Conveniently located in the growing family oriented community of Burlington, NC halfway between

Greensboro to the west and the Raleigh/Durham/Research Triangle Park area to the east.

Easy access to Interstates 85 and 40 for commutes to Chapel Hill, Durham, Raleigh, Research

Triangle Park, Raleigh/Durham Airport, Greensboro, Winston-Salem, High Point, the Piedmont

Triad International Airport and the Raleigh/Durham International Airport.

Located within 60 miles of North Carolina State University, Duke University, University of North

Carolina-Chapel Hill and Wake Forest University; within 25 miles of North Carolina A&T

University, University of North Carolina-Greensboro, Guilford College, Greensboro College, the

Elon Law school, Bennett College and within 10 miles of Elon College.

Located within 10 miles of Burlington’s Alamance Crossing Life Style Shopping Center, Tanger

Outlet Center in Mebane and 20 miles from Durham’s South Pointe Life Style Shopping Center.

Property Highlights Summary:

Located within the Burlington City limits

Public water and sewer provided

Professional management in place

Complex of only 29 units located in an established residential area

17 one-bedroom/one bath (750 sf) and 12 two bedroom/one bath

(850 sf) garden style units

4.08 acres



Summer Pointe


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