KNIGHTDALE MANOR – 32 UNITS IN KNIGHTDALE, NC (2024)

SOLD 12/27/24 for $3,700,000 or $115,625 per unit

Deaton GREA is pleased to present, as the exclusive listing broker for the seller, the Knightdale Manor Apartments. Located ten miles east of Downtown Raleigh, the town of Knightdale is a rapidly growing suburb of the Raleigh-Durham MSA. Knightdale’s economic growth is closely tied to the overall prosperity of the Research Triangle area. With continued population growth, increasing development, and a growing retail and small business sector, Knightdale is evolving into an economically vibrant destination. The strategic location, attractive housing options, and growing infrastructure position the area for increasing growth in the coming years.

Knightdale Manor has a total of 32 units spread across two, brick duplexes built in 1968 and another 28, garden-style apartments built in 1976 and 1987. In the last three years current ownership has invested more than $500,000 in capital improvements including new windows, new sliding rear doors, and the replacement of nearly ninety-percent of the HVAC units and water heaters. The property has been operated efficiently, but there exists an opportunity to improve income and add value with strategic improvements.