MOREHEAD 1911 – 24 UNITS IN DURHAM, NC
SOLD 2/28/17 FOR $1,300,000.
Price included a $45,000 seller credit for deferred maintenance.
This is a package of seven buildings on Morehead Avenue and one building on House Avenue in Durham, NC. Located approximately one mile from the campus of Duke University, the Duke University Medical Center and Downtown Durham, all of the buildings have been owned by the same family since they were built in 1960 and 1961.
The buildings feature all-brick exteriors with hardwood floors in most of the interior rooms. There are 22, two-bedroom units and two, three-bedroom units. With the average current rent at $516 per unit or $.61 per square foot, there is an opportunity to increase current revenue through renovations and operational best practices.
UNIT INFORMATION
| Unit | Type | Size | Rent |
|---|---|---|---|
| 24 UNITS | SEE RENT ROLL | SEE RENT ROLL | $12,400 CURRENT |
PROPERTY INFORMATION
| PIN | SEE TAX RECORDS |
| Tax Value | $1,250,374 |
| Taxes | $16,268.90 |
| Lot Size | SEE TAX RECORDS |
| Year Built | 1960 / 1961 |
| Exterior | BRICK |
| Floors | HARDWOOD, CARPET, VINYL, TILE |
| Foundation | CRAWL / SLAB |
| HVAC | WINDOW A/C, ELECTRIC BASEBOARD HEAT, CENTRAL GAS HEAT IN SOME OF THE DUPLEX UNITS |
| Utilities | TENANTS PAY UNIT UTILITIES, OWNER PAYS AREA LIGHTS, STORMWATER AND LANDSCAPING |
| Legal Description | SEE TAX RECORDS |
| Appliances | RANGE, REFRIGERATOR, W/D CONNNECTIONS |
| Sold Date | 2017-02-28 |
Agent Information Steve Deaton
Location Map
MOREHEAD 1911 – 24 UNITS IN DURHAM, NC