CARVER CREEK – 48 UNITS IN DURHAM, NC

PRICE:
$ 6,050,000
STATUS:
Sold
ADDRESS:
531 E Carver St, Durham, NC 27704, USA
OVERVIEW:

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.

Link To Tax Records
UNIT INFORMATION
Unit Type Size Rent
48 UNITS 1BD/1BA 680 SF $850
PROPERTY INFORMATION
PIN 0833-25-2459
Tax Value $1,857,544
Taxes $23,775
Lot Size 6.97 ACRES
Year Built 1993
Exterior BRICK & VINYL
Floors CARPET, VINYL
Foundation SLAB
HVAC CENTRAL AIR / HEAT PUMPS
Utilities OWNER PAYS WATER AND TRASH
Legal Description PROP-OXFORD COMMONS/TR#02 /DBA-CARVER CRK APTS/LT# PL:000124-000141
Appliances RANGE, REFRIGERATOR
Sold Date 2023-08-17
Zoning PDR 10.0

Location Map

CARVER CREEK – 48 UNITS IN DURHAM, NC
Address: 531 E Carver St, Durham, NC 27704, USA Price: $ 6,050,000 Unit: 48