RICHMOND HILLS – 51 UNITS IN RALEIGH, N.C.

Price:

$6,200,000

Status:

Sold

Address:

2251 Charles Dr, Raleigh, NC 27612, USA

Overview:

SOLD 5/14/21 FOR $6,200,000
$121,568 per unit

Deaton Investment Real Estate represented the buyer in this transaction. The seller was represented by JLL.

Located just north of Crabtree Valley Mall, Richmond Hills apartments include a mix of two- and three-bedroom apartments spread over more than 5 acres. Built in 1970, the property offers a great value-add opportunity in one of Raleigh’s strongest submarkets. In addition, the site has been approved for development of up to 168 units in a 5-story design.

Unit Information

UnitTypeSizeRent
20 UNITS2 BD/1.5 BA951-1,047 SF$875 AVG.
31 UNITS3 BD/2 BA1,137-1,233 SF$950 AVG.

Property Information

PIN 0796519955 Tax Value $4,596,953
Taxes TBD Lot Size 5.19 ACRES
Year Built 1970 Exterior BRICK, VINYL
Floors CARPET, VINYL, LVP Foundation SLAB, CRAWL
HVAC CENTRAL A/C, HEAT PUMP Owner Financing NONE
Utilities PAID BY TENANTS Appliances RANGE, REFRIGERATOR, DISHWASHER
Legal Description OVERTURE AT CRABTREE NORTH BM2016-00218 Zoning CX-12
Sold Date 05/14/2021