188 Units, constructed in 1988
Lexington Farms is a 188-unit garden-style apartment community located at 3409 Mill Tree Road in Raleigh, NC. Built in 1988, it is situated on 21.9 acres and is comprised of one- and two-bedroom units averaging 914 square feet. It is conveniently positioned near major highways giving residents direct access to The Triangle’s lively shopping and entertainment sectors and some of the most prominent employers in the area.
The community features numerous amenities for residents to enjoy, including a swimming pool and sundeck, lighted tennis court, dog park, cardio and strength training studios, and a resident lounge with WiFi and billiards. Also, the majority of the property’s spacious homes come equipped with renovated kitchens and bathrooms, washers and dryers, walk-in closets, and Energy Star appliances. Redwood plans a moderate value-add strategy involving continuing the unit upgrade program begun by the previous owner, enhancing the clubhouse and fitness center, and addressing various minor deferred maintenance needs. In total Redwood anticipates spending $800,000 on property improvements.
Located in the Northwest Raleigh submarket, Lexington Farms is positioned in an increasingly desirable place to live. Residents enjoy easy access to both the Crabtree Valley Mall and all of its high-end shops and restaurants and the Research Triangle Park, one of the region’s largest employment corridors. The property is also only minutes away from the main campus of Rex Healthcare and Rex Hospital.