About North Lakes
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 336-unit, North Lakes apartment community located in Greensboro, NC. The property offers an outstanding opportunity to invest in a well-performing asset within the economic powerhouse of the Piedmont Triad, strategically located beside a proposed exit off the future Greensboro Urban Loop (840). Built in 1972, North Lakes received a capital investment of over $2 Million in exterior amenities, including 71 roofs replaced in 2019, and ownership-implemented interior upgrades to 125 units. The immediate area is compacted with blue chip demographics, with averages HHI’s of over $94K expected to rise 13% by 2024. A high income renter base paired with the planned Urban Loop presents potential investors with the opportunity to complete the in-place value add program on the remaining 211 units to achieve an additional 26% in annual NOI.