1105 FLATS AT NORTH HILLS – 128 UNITS IN RALEIGH, NC

DEATON is pleased to present the exclusive offering of 1105 Flats at North Hills, a 128-unit multifamily community located in Raleigh’s highly desirable Midtown submarket. Originally constructed as a hotel in 1998, the six-story property was comprehensively renovated and converted to multifamily use in 2023 through approximately $3.98 million in capital improvements. The completed repositioning provides investors the opportunity to acquire a recently renovated asset at a meaningful discount to replacement cost in one of the Triangle’s most established infill locations.

1105 Flats consists entirely of one-bedroom residences ranging from approximately 371 to 507 square feet. The efficient unit designs, modern finishes, and attainable rental price points provide a differentiated housing option within a surrounding submarket characterized by significantly higher rents and continued residential and commercial investment. Community amenities include a resort-style swimming pool and sundeck, 24-hour fitness center, clubhouse and game room, controlled access, resident common areas, and on-site laundry facilities.

Located along Navaho Drive just minutes from North Hills, the property offers convenient access to Midtown Raleigh’s concentration of employment, retail, restaurants, entertainment, and healthcare, while maintaining direct connectivity to Downtown Raleigh and the broader Triangle through nearby I-440 and major commuter corridors. With the physical repositioning substantially complete, 1105 Flats offers a new owner the opportunity to focus on continued stabilization, revenue growth, and operational efficiencies while benefiting from an irreplaceable infill Raleigh location and a highly competitive basis.