ARBOR CREST – 199 UNITS IN RALEIGH

Price:

$19,900,000

Status:

Sold

Address:

5000 Windy Hill Dr, Raleigh, NC 27609, USA

Overview:

SOLD 9/17/19 FOR $19,900,000
Deaton Investment Real Estate represented the buyer in this off-market transaction and was the sole broker.

Located five miles north of Downtown Raleigh, Arbor Crest Apartments offers residents a Midtown location with easy access to dining, retail, employment and entertainment options. Built in 1978, the property offers an attractive mix of floor plans with original finishes. The property features mature landscaping on more than 24 acres, providing a scenic and peaceful setting. Property amenities include a swimming pool, clubhouse, laundry facilities, playground, picnic area with grills and private patios. With strategic renovations, rents can be raised to market allowing the buyer to realize a significant revenue upside.

 

Unit Information

UnitTypeSizeRent
401 BD/1 BA688 SF$702 AVG.
381 BD/1.5 BA734 SF$730 AVG.
142 BD/1.5 BA1,083 SF$871 AVG.
882 BD/2 BA1,002 SF$823 AVG.
193 BD/2.5 BA1,320 SF$990 AVG.
199 UNITS 924 SF AVG.$800 AVG.

Property Information

PIN 1716556594 Tax Value $14,094,374
Taxes $167,299 Lot Size 24.56 ACRES
Year Built 1978 Exterior VINYL, WOOD, BRICK
Floors CARPET, VINYL, LVT Foundation SLAB
HVAC CENTRAL AIR Owner Financing NONE
Utilities OWNER PAYS WATER Appliances RANGE, REFRIGERATOR, DISHWASHER, WASHER/DRYER CONNECTIONS
Legal Description TRACTS 1 & 2 PROP QUAIL DEVELOPMENT CO Zoning R-10
Sold Date 09/17/2019