CARVER CREEK – 48 UNITS, DURHAM, NC

SOLD 8/17/2023 FOR $6,050,000
$126,042 per unit

Deaton Investment Real Estate represented the seller and was the sole broker in this off-market transaction. Conveniently located in Durham, N.C., Carver Creek Apartments was built in 1993 as a LITHC deal with tax credits set to expire December of 2023. The property sits on approximately 6.97 total acres and features forty-eight, one-bedroom/one-bathroom units. Amenities include a fitness center, on-site management, on-site maintenance, and a business center. Deaton Investment Real Estate saw the opportunity for a non-profit organization to purchase the property and keep these apartments as affordable housing options in a market that has experienced significant rent growth throughout the past several years.