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.

Link To Tax Records
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

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