1620 Spring Garden Street, Greensboro, NC 27403
- $1,845,000
- Sold Price
- $1,845,000
- List Price
- $2,070,000
- MLS#
- 4308553
- Status
- CLOSED
- Property Type
- Commercial Sale
- Year Built
- 1981
- Days on Market
- 128
- Closing Date
- Feb 06, 2026
- Lot Size
- 56,192
- Lot Size Area
- 1.29
- County
- Guilford
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.
Additional Information
- Heating
- Forced Air
- Water
- City
- Sewer
- Public Sewer
- Parking
- Parking Lot
- Driveway
- Paved
- Lot Description
- Paved, Wooded
- Zoning
- RM18
- Special Conditions
- None
Mortgage Calculator
Listing courtesy of Keller Williams Ballantyne Area. Zena.RealTwarrior@gmail.com
Selling Office: Canopy Administration.
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