COLONY TOWNHOMES – 59 UNITS IN RALEIGH, NC
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.
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 |
Agent Information Michael Deaton
Location Map
COLONY TOWNHOMES – 59 UNITS IN RALEIGH, NC
Address:
5581 Burnlee Pl, Raleigh, NC 27609, USA
Price: $
7,080,000
Unit:
59