Magnolia Crossings
Fayetteville, NC
Property Overview
KEY HIGHLIGHTS
- YEAR BUILT 1975
- RENOVATED 2023 - 2024
- UNITS 32
- UNIT MIX ALL 2-BEDROOM
- ACREAGE 1.98 ACRES
- AVERAGE OCCUPANCY RATE 93%
- SIZE 990 SF
- RENT $1,139 (RENT + MONTHLY FEES)
Magnolia Crossings is a 32-unit, garden-style community, featuring 100% renovated two-bedroom units. Located in the West Cumberland submarket of Fayetteville, N.C. the property offers convenient access to major employment and retail centers.
Current ownership has invested more than $750,000 in capital improvements since 2022. These improvements include new roofs, interior renovations to every unit, landscaping, signage and more. At an average cost of $20,000 per unit, the interior renovations include; LVP flooring, appliances, granite countertops, updated electrical fixtures, refinished bathrooms and bathtubs, and more.
Additionally, a prior owner replaced all the windows in 2003 and in 2013 the central air HVAC units were upgraded to R410A systems. This offering represents a rare opportunity to acquire a stabilized and 100% renovated asset of this size. The same owner is also offering 19 units nearby for sell.
Our Team
Deaton is proud to do business with a handshake as easily as we do over the Internet, because the goal is always the same: earn, keep and respect the customer’s business.
Located in the Triangle region of North Carolina, encompassing Raleigh, Durham, and Chapel Hill, Deaton GREA specializes in brokering income-producing properties. Throughout all of North Carolina, we maximize opportunities for buyers and sellers of apartments. We work with individual investors to private capital, family offices, and institutional firms. Deaton’s transaction volume exceeds $3.7 billion in multifamily sales.
The company was founded in 1981 by Steve Deaton, who still operates it today. In December of 2023, Deaton joined Global Real Estate Advisors (GREA), a leading player in the multifamily brokerage, lending, and investment advisory sector. This strategic partnership allows Deaton GREA to maintain it’s presence as an independently owned and operated, boutique brokerage firm, with access to a national platform of advisory resources, tools, and clients.