COLONY TOWNHOMES – 59 UNITS IN NORTH RALEIGH

PRICE:
$ 7,080,000
STATUS:
Sold
ADDRESS:
5581 Burnlee Pl, Raleigh, NC 27609, USA
OVERVIEW:

SOLD 3/29/19 FOR $7,080,000
($120,000 per unit)

Colony Townhomes features 59 apartments located on Millbrook Road, near the intersection of Six Forks Road. This midtown location is a high-growth area where rental demand and rent growth has outpaced the market. The property features an attractive mix of one-, two- and three-bedroom floorplans and the property is in excellent condition.

Deaton Investment Real Estate exclusively represented the buyer in this transaction. The seller was represented by Worthy & Watchel and V.G. Murray and Company.

Link To Tax Records
UNIT INFORMATION
Unit Type Size Rent
1 UNIT 1 BD/1 BA 500 SF $865
6 UNITS 2 BD/1 BA 850 SF $975 AVG
34 UNITS 2 BD/1.5 BA 1,079 SF $1,030 AVG
18 UNITS 3 BR/2.5 BA 1,478 SF $1,215 AVG
PROPERTY INFORMATION
PIN 1706761705
Tax Value $4,690,360
Taxes $52,406.88
Lot Size 7.5 ACRES
Year Built 1968
Exterior BRICK, VINYL
Floors CARPET, TILE, VINYL
Foundation CRAWL
HVAC CENTRAL AIR, HEAT PUMPS
Utilities OWNER PAYS WATER
Legal Description PHAS 1&2 COLONY TOWNHOUSES
Appliances RANGE, REFRIGERATOR, DISHWASHER, WASHER/DRYER CONNECTIONS
Sold Date 2019-03-29
Zoning R-6

Location Map

COLONY TOWNHOMES – 59 UNITS IN NORTH RALEIGH
Address: 5581 Burnlee Pl, Raleigh, NC 27609, USA Price: $ 7,080,000 Unit: