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$1,845,000
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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.
Full Property Details
Full Property Details for 1620 Spring Garden St
General
- Sold For: $1,845,000
- Status: Closed
- Type: Commercial
- Source: Charlotte_Regional_Realtor_Association
- MLS ID: 4308553
- Added to Site: 143 day(s) ago
Parking
- Parking Features: Parking Lot
Location
- County: Guilford
- Driving Directions: From Downtown Greensboro: Take W Gate City Blvd west, turn right onto Aycock St/Lee St (Gate City Blvd exit if on I-40), then left onto Spring Garden St. Property will be on the left at 1620 Spring Garden St, near the UNCG campus. From I-40/I-85: Take Exit 217 (Gate City Blvd/Coliseum Area), follow Gate City Blvd east toward Downtown, turn left onto Chapman St, then right on Spring Garden St. Property is on the right.
- City Limits: Yes
Heating & Cooling
- Cooling Type: Central Air
- Heating Type: Forced Air
Utilities
- Sewer: Public Sewer
- Water: City
- Utility Description: Cable Available, Electricity Connected, Wired Internet Available
Structural Information
- # Buildings: 6
- Construction: Site Built
- Minimum Avail: 17,472 Sq. Ft.
- Year Built: 1981
Lot Features
- Street/Road Desc.: Paved
- Lot Features: Paved, Wooded
- Rcmdd Zoning: RM18
- Fencing (Description): Partial
Financial Considerations
- Terms: Cash, Conventional, Private
Disclosures and Reports
- Inclusions: Building
- Property ID: 11759
- Lot Number: 8757-425
Listed by Keller Williams Ballantyne Area
Sold by Canopy Administration
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Schools
Schools serving 1620 Spring Garden St
School District:Guilford County Schools
| Name | Grades | Distance |
|---|---|---|
John Van Lindley Elementary School 2700 Camden Road, Greensboro, NC 27403 | PK-5 | 0.9 mi |
Kiser Middle School 716 Benjamin Parkway, Greensboro, NC 27408 | 6-8 | 1.4 mi |
Grimsley High School 801 North Josephine Boyd Street, Greensboro, NC 27408 | 9-12 | 1.3 mi |
Disclaimer:
School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 1620 Spring Garden St
Date
Details
Price
Change
Source
2/06/2026
Sold
$1,845,000
-10.87%
MLS
10/01/2025
Listed
$2,070,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
1620 Spring Garden Street, Greensboro, NC 27403 (MLS# 4308553) is a Commercial property that was sold at $1,845,000 on February 06, 2026. Want to learn more about 1620 Spring Garden Street? Do you have questions about finding other Commercial real estate for sale in Greensboro? You can browse all Greensboro real estate or contact a Coldwell Banker agent to request more information.

