MOCKSVILLE, NC – Capstone Apartment Partners has successfully brokered the sale of Northwood Apartments in Mocksville, NC for the second time in two years. RP2 Properties sold the property to a private investor for $2,425,000 million, or $28,869 per unit.
“New ownership recognized the advantages in acquiring this highly performing, turn-key asset given its excellent return metrics and ideal proximity to Winston-Salem."
~ Alex McDermott of Capstone Apartment Partners
Well-located between Winston-Salem and Statesville, Northwood has recently undergone significant capital improvements, and offers tenants the premier rental option in the submarket. Residents enjoy a modern, high-end amenity package that includes a resort-style swimming pool, playground, fitness center, basketball court, and on-site management. Completed in 1988, the 84-unit complex was 97.0% occupied at time of sale. Brian Ford, Alex McDermott, and Ron Corrao of Capstone Apartment Partners represented the seller in the transaction.