The Viceroy Apartments – 24 Units in Durham

Price:

$2,200,000

Status:

Sold

Address:

1700 Chapel Hill Rd, Durham, NC 27707, USA

Overview:

SOLD 7/20/18 FOR $2,075,000

These 24 units in Durham, known as the Viceroy Apartments, are located within a mile of Duke University and Downtown Durham. The property is also within steps of the Lakewood shopping center where the Scrap Exchange has initiated the redevelopment of more than 100,000 SF of dining, retail and entertainment space as a part of the Reuse Arts District. In addition, neighborhoods in the Lakewood area have seen median single-family home prices increase from approximately $100/sf to nearly $200/sf in the last seven years.

Each unit is a 2 BD/1 BA floorplan and 19 of the 24 units have been renovated. The two buildings feature brick exteriors and the roofs are less than two years old. The new owner has the opportunity to continue adding value by completing renovations and raising lagging rents to market.

Unit Information

UnitTypeSizeRent
242 BD/1 BA840 SF$875 MKT

Property Information

PIN 0821-10-25-7973 Tax Value $1,030,218
Taxes $13,871.38 Lot Size 0.746
Year Built 1967 Exterior BRICK
Floors CARPET, VINYL, LVT, TILE Foundation SLAB
HVAC HEAT PUMP Owner Financing N/A
Utilities OWNER PAYS WATER, DUMPSTER, AREA LIGHTS Appliances RANGE, REFRIGERATOR
Legal Description PROP-TRIANGLE COMMUNITIES /PRINCETON APARTMENT
Sold Date 07/20/2018