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.
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%) |
Agent Information Thomas T Furlow
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