CHAPEL VIEW – 224 UNITS IN CHAPEL HILL

1 / 7

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	Owner Financing	NONE
Appliances	RANGE, REFRIGERATOR, DISHWASHER, WASHER/DRYER CONNECTIONS
Legal Description	S/S INT HWY 86 & SR 1777
Sold Date	12/30/2019

Print this Property

Agent Information

Michael Deaton