81 UNITS IN BUTNER, NC

PRICE:
$ 5,025,000
STATUS:
Sold
ADDRESS:
503 W C St, Butner, NC 27509, USA
OVERVIEW:

SOLD 3/3/17 FOR $5,025,000 ($62,037/unit)

These 81 units are located in two locations at 503 W. C Street and 704 W. B Street in Butner, NC. Known as the Ellis Apartments (built 1998-2001) and the Huckleberry Apartments (built 2004) the properties are well-maintained and remain at a 98% occupancy rate.

Deaton Investment Real Estate represented the buyer in this purchase. The seller was represented by NAI Carolantic Realty. The acquisition represented a Cap Rate above 7 percent with the opportunity to push rents slightly higher.

UNIT INFORMATION
Unit Type Size Rent
1 UNIT 1 BD / 1 BA 800 SF $600 AVG
80 UNITS 2 BD / 2BA 1,050 SF $690 AVG
PROPERTY INFORMATION
PIN 21686 / 11786
Tax Value $2,700,282 / $1,732,950
Year Built 1998 - 2004
Exterior WOOD
Floors CARPET, VINYL
HVAC CENTRAL AIR, HEAT PUMPS
Appliances RANGE, REFRIGERATOR, W/D CONNECTIONS
Sold Date 2017-03-03

Location Map

81 UNITS IN BUTNER, NC
Address: 503 W C St, Butner, NC 27509, USA Price: $ 5,025,000 Unit: 81