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.

Link To Tax Records
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

Location Map

CHAPEL VIEW – 224 UNITS IN CHAPEL HILL
Address: 2701 Homestead Rd, Chapel Hill, NC 27516, USA Price: $ 34,200,000 Unit: 224