CADENCE AT RTP APARTMENTS – 204 UNITS IN DURHAM, NC

PRICE:
$ 30,000,000
STATUS:
Sold
ADDRESS:
1400 East Cornwallis Road, Durham, NC, USA
OVERVIEW:

SOLD 4/30/24 FOR $30,000,000
$147,058 per unit

DEATON | GREA represented the buyer in this off-market transaction. Cadence at RTP Apartments is a beautiful, purpose-built student housing asset in conversion to market rate operations. The property is located within close proximity to RTP, UNC Chapel Hill, Duke University and Downtown Durham making it attractive to a wide-ranging tenant profile. Built in 2004, the garden-style property features all brick exteriors with spacious two- and three-bedroom units with bed/bath parity. The property recently benefited from renovated amenities and upgraded apartment interiors.

Tax Records
UNIT INFORMATION
Unit Type Size Rent
156 3BR/3BA 1,188 SF $1,499 - $1,700
48 2BR/2BA 981 SF $1,375 - $1,500
204 TOTAL 232,416 RSF TOTAL
PROPERTY INFORMATION
PIN 0729-88-61-1218
Tax Value $18,191,265
Taxes $238,287.38
Lot Size 28.787
Year Built 2004
Exterior BRICK
Floors CARPET, LVP, VINYL
Foundation SLAB
HVAC CENTRAL AIR, HEAT PUMP
Utilities OWNER PAYS WATER, TENANT PAYS ELECTRIC
Legal Description PROP-CAMPUS POINTE/BOSTIC DEVE & NCCU LLC/LT#02 PT
Appliances RANGE, REFRIGERATOR, DISHWASHER, WASHER/DRYER CONNECTION
Sold Date 2024-04-30
Zoning OI (98%) RS-20 (2%)

Location Map

CADENCE AT RTP APARTMENTS – 204 UNITS IN DURHAM, NC
Address: 1400 East Cornwallis Road, Durham, NC, USA Price: $ 30,000,000 Unit: 204