CHATEAU APARTMENTS – 168 UNITS IN CARRBORO, N.C.

Price:

$18,715,000

Status:

Sold

Address:

201 NC-54, Carrboro, NC 27510, USA

Overview:

SOLD 4/9/21 FOR $18,715,000
$111,398 per unit

Deaton Investment Real Estate represented the buyer and was the sole broker in this off-market transaction.

Built in 1969, Chateau Apartments, are located three miles west of downtown Chapel Hill and the University of North Carolina at Chapel Hill (UNC). Spread over more than 15 acres, the property features all one-bedroom units, a leasing office, laundry building and a swimming pool. Owned and operated by the original developer’s family, the property is in excellent condition, but offers the opportunity to raise rents through strategic improvements.

Unit Information

UnitTypeSizeRent
168 UNITS1 BD/ 1 BA800 SF$800 AVG.

Property Information

PIN 9778370093 Tax Value $14,167,400
Taxes TBD in 2021 Lot Size 15.45 ACRES
Year Built 1969 Exterior BRICK, HARDBOARD
Floors CARPET, VINYL, TILE Foundation SLAB
HVAC CENTRAL A/C, HEAT PUMP Owner Financing NONE
Utilities OWNER PAYS WATER AND TRASH Appliances RANGE, REFRIGERATOR, DISHWASHER, MICROWAVE
Legal Description E/S HWY 54 (CHATEAU APTS) P61/158 Zoning MULTIFAMILY
Sold Date 04/09/2021