ARBORS AT NORTH HILLS – 199 UNITS IN RALEIGH, NC
PRICE:
$
41,790,000
STATUS:
Sold
ADDRESS:
5825 Pointer Dr, Raleigh, NC 27609, USA
OVERVIEW:
SOLD 5/31/22 FOR $41,790,000
$210,000 per unit
Deaton Investment Real Estate represented the buyer and was the sole broker in this off-market transaction. Arbors at North Hills is a 199-unit community located in the Raleigh submarket where rents are rapidly increasing. Built in 1978, this property features a mix of one-, two-, and three-bedroom units. This asset offers the opportunity to increase income through operational and strategic value-add improvements.
UNIT INFORMATION
| Unit | Type | Size | Rent |
|---|---|---|---|
| 40 UNITS | 1BD/1BA | 688 SF | $1,095 |
| 38 UNITS | 1BD/1.5BA | 734 SF | $1,155 |
| 14 UNITS | 2BD/1.5BA | 1,072 SF - 1,083 SF | $1,285 |
| 88 UNITS | 2BD/2BA | 984 SF - 1,002 SF | $1,300 |
| 19 UNITS | 3BD/2.5BA | 1,320 SF | $1,470 |
PROPERTY INFORMATION
| PIN | 1716556594 |
| Tax Value | $20,038,739 |
| Taxes | $198,936.93 |
| Lot Size | 24.56 ACRES |
| Year Built | 1978 |
| Exterior | VINYL, WOOD, BRICK |
| Floors | CARPET, VINYL, LVP |
| Foundation | SLAB |
| HVAC | CENTRAL AIR/HEAT PUMP |
| Utilities | WATER IS SUBMETERED |
| Legal Description | TRACTS 1 & 2 PROP QUAIL DEVELOPMENT CO |
| Appliances | RANGE, REFRIDGERATOR, DISHWASHER, WASHER/DRYER CONNECTION |
| Sold Date | 2022-05-31 |
| Zoning | R-10 |
Agent Information Michael Deaton
Location Map
ARBORS AT NORTH HILLS – 199 UNITS IN RALEIGH, NC
Address:
5825 Pointer Dr, Raleigh, NC 27609, USA
Price: $
41,790,000
Unit:
199