COLLEGEVIEW 1611 – 21 UNITS IN RALEIGH, NC (2023)
PRICE:
$
3,500,000
STATUS:
Sold
ADDRESS:
1611 Collegeview Ave, Raleigh, NC 27606, USA
OVERVIEW:
SOLD 12/22/2023 FOR $3,500,000
$166,667 per unit
Deaton Investment Real Estate represented the seller and was the sole broker in this off-market transaction. Conveniently located just south of N.C. State University in Raleigh, NC, Collegeview is a unique asset with nineteen, 2 BD/2 BA condos built in 1988 and two, detached houses built in the 1950’s. The property underwent light renovations between 2018 and 2020 and is fully-stabilized with an opportunity to renovate to a higher level and raise rents further.
UNIT INFORMATION
| Unit | Type | Size | Rent |
|---|---|---|---|
| Condos - 19 Units | 2 BD / 2 BA | 1,100 SF | $1,300 AVG |
| House - 1609 | 2 BD / 1 BA | 1,640 SF | $1,795 |
| House - 1613 | 4 BD / 3 BA | 1,660 SF | $2,025 |
PROPERTY INFORMATION
| PIN | 793370342 & 793278271 |
| Tax Value | $2,019,605 |
| Taxes | $24,750.36 |
| Lot Size | 2.10 ACRES |
| Year Built | 1988, 1959, 1957 |
| Exterior | BRICK, WOOD, VINYL |
| Floors | LVP, CARPET, VINYL |
| Foundation | CRAWL |
| HVAC | CENTRAL AIR, HEAT PUMP |
| Utilities | PAID BY TENANTS, OWNER PAYS DUMPSTER AND AREA LIGHT |
| Legal Description | SEE ADDRESS EXHIBIT |
| Appliances | RANGE, REFRIGERATOR, DISHWASHER, WASHER/DRYER |
| Sold Date | 2023-12-21 |
| Zoning | R-10 |
Agent Information Thomas T Furlow
Location Map
COLLEGEVIEW 1611 – 21 UNITS IN RALEIGH, NC (2023)
Address:
1611 Collegeview Ave, Raleigh, NC 27606, USA
Price: $
3,500,000
Unit:
21