5
See all 5 photos
$2,070,000
Est. payment /mo
1.29 Acres Lot
New
1620 Spring Garden ST Greensboro, NC 27403
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Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID 4308553
Year Built 1981
Lot Size 1.290 Acres
Acres 1.29
Property Description
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, Spring Garden Apartments is an opportunity not to miss.
Location
State NC
County Guilford
Zoning Residential, Multi-Family
Interior
Heating Forced Air
Cooling Central Air
Inclusions Building
Exterior
Fence Partial
Utilities Available Cable Available, Electricity Connected, Wired Internet Available
Street Surface Paved
Total Parking Spaces 34
Building
Lot Description Paved, Wooded
Dwelling Type Site Built
Sewer Public Sewer
Water City
New Construction false
Others
Senior Community false
Acceptable Financing Cash, Conventional, Private
Listing Terms Cash, Conventional, Private
Special Listing Condition None
© 2025 Listings courtesy of Canopy MLS as distributed by MLS GRID. All Rights Reserved.
Listed by Zena Krogedal • Keller Williams Ballantyne Area • Zena.RealTwarrior@gmail.com
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