Updated Sep 11, 2026
Cedar Grove Capital Acquires 160-Unit Multifamily In Conover, NC For $20.4M
1011 County Home Road
$20,360,613
Units
160
Asset Type
MultiFamily
Closing
Oct 31, 2022
About this deal
AI
A multifamily property located at 1011 County Home Road in Conover, NC has been sold for a total price of $20,360,613. The property consists of 160 units, which translates to a price per unit (PPU) of $127,254.
Summary of Transaction Details
- Property Type: Multifamily
- Transaction Amount: $20,360,613
- Units: 160
- Price Per Unit (PPU): $127,254
The buyer of this property is Cedar Grove Capital, while the seller is Richie Wolf. The deal was facilitated by brokers Jonathan Brody and Adi Ifergan from Rosewood Realty Group.
On the Map
$20,360,613
MultiFamily
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Players
Conover MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.78%
Cash-on-Cash
-0.22%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93