CHAPEL VIEW – 224 UNITS IN CHAPEL HILL
PRICE:
$
34,200,000
STATUS:
Sold
ADDRESS:
2701 Homestead Rd, Chapel Hill, NC 27516, USA
OVERVIEW:
Sold 08/26/21 for $34,200,000
$152,678 per unit
Deaton Investment Real Estate and Cushman Wakefield represented the buyer in this off-market transaction.
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 is very well-maintained and features a clubhouse, fitness center, sand volleyball pit, pool, and dog park. With the sellers completing a student to market-rate conversion, the buyers can capture operational and income upside.
UNIT INFORMATION
| Unit | Type | Size | Rent |
|---|---|---|---|
| 90 UNITS | 1 BD/1 BA | 725 SF AVG. | $1,200 MARKET |
| 134 UNITS | 2 BD/1 BA | 920 SF AVG. | $1,400 MARKET |
PROPERTY INFORMATION
| PIN | 9880200342 |
| Tax Value | $23,913,300 |
| Taxes | $405,496.36 |
| Lot Size | 18.74 ACRES |
| Year Built | 1986 |
| Exterior | BRICK, HARDBOARD |
| Floors | CARPET, VINYL, TILE, LVT |
| Foundation | CRAWL, SLAB |
| HVAC | CENTRAL AIR |
| Utilities | PAID BY TENANTS |
| Legal Description | S/S INT HWY 86 & SR 1777 |
| Appliances | RANGE, REFRIGERATOR, DISHWASHER, WASHER/DRYER CONNECTIONS |
| Sold Date | 2021-08-26 |
Agent Information Michael Deaton
Location Map
CHAPEL VIEW – 224 UNITS IN CHAPEL HILL
Address:
2701 Homestead Rd, Chapel Hill, NC 27516, USA
Price: $
34,200,000
Unit:
224