CHAPEL VIEW – 224 UNITS IN CHAPEL HILL

PRICE:
$ 26,000,000
STATUS:
Sold
ADDRESS:
2701 Homestead Rd, Chapel Hill, NC 27516, USA
OVERVIEW:

Sold 12/30/19 for $26,000,000
Deaton Investment Real Estate represented the buyer in this off-market transaction.

The Chapel View Apartments offer a mix of one- and two-bedroom units approximately three miles north of Franklin Street and the University of North Carolina at Chapel Hill. Built in 1986, the property has historically operated as a student property with by-the-bed leasing. New ownership can grow revenue and add value with strategic improvements and by transitioning leasing to a more traditional model.

Link To Tax Records
UNIT INFORMATION
Unit Type Size Rent
90 UNITS 1 BD/1 BA 725 SF AVG. $950 MARKET
134 UNITS 2 BD/1 BA 920 SF AVG. $1,300 MARKET
PROPERTY INFORMATION
PIN 9880200342
Tax Value $16,888,700
Taxes $315,566.33
Lot Size 18.74 ACRES
Year Built 1986
Exterior BRICK, HARDBOARD
Floors CARPET, VINYL, TILE, LVT
Foundation CRAWL, SLAB
HVAC CENTRAL AIR
Legal Description S/S INT HWY 86 & SR 1777
Appliances RANGE, REFRIGERATOR, DISHWASHER, WASHER/DRYER CONNECTIONS
Sold Date 2019-12-30

Location Map

CHAPEL VIEW – 224 UNITS IN CHAPEL HILL
Address: 2701 Homestead Rd, Chapel Hill, NC 27516, USA Price: $ 26,000,000 Unit: 224