ELLIS & HUCKLEBERRY – 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 |
Agent Information Steve Deaton
Location Map
ELLIS & HUCKLEBERRY – 81 UNITS IN BUTNER, NC
Address:
503 W C St, Butner, NC 27509, USA
Price: $
5,025,000
Unit:
81