53 UNITS IN WEST RALEIGH – WAYNERIDGE TOWNES

Price:

$4,900,000

Status:

Sold

Address:

1601 Hammock Pl, Raleigh, NC 27606, USA

Overview:

SOLD 9/21/17 FOR $4,900,000

Wayneridge Townes is a well-maintained property in a core, West Raleigh location. Built in 1984, all 53 units are 2-bedroom and 2.5-bath townhomes of approximately 1066 SF. The townhomes are clustered in sets of 2-, 3-, and 4-unit buildings. The property is located within minutes of Downtown Raleigh, N.C. State University and major retail centers in Cary.

Extensive exterior renovations and capital improvements were completed in 2016 giving the property great curb appeal. Current rents range from $700 to $900 with the lower rents simply lagging the market, At this time, the gross rent total is just under $40,000 per month. The newest leases are being signed at rates of $900+ per month.

Unit Information

UnitTypeSizeRent
53 UNITS2 BD / 2.5 BA1,066 SF$900 MKT

Property Information

PIN 0783112194, 0783106925 Tax Value $3,505,280
Taxes $32,267.65 Lot Size 4.43 ACRES
Year Built 1984 Exterior HARDBOARD, MASONITE
Floors CARPET, VINYL Foundation SLAB
HVAC CENTRAL AIR, HEAT PUMP
Utilities OWNER PAYS DUMPSTER AND AREA LIGHTS, TENANTS PAY WATER AND ELECTRIC Appliances RANGE, REFRIGERATOR, DISHWASHER, STACK WASHER/DRYER
Zoning R-10
Sold Date 09/21/2017