COLONY – 140 UNITS IN BURLINGTON, NC
PRICE:
$
15,400,000
STATUS:
Sold
ADDRESS:
2008 S Mebane St, Burlington, NC 27215, USA
OVERVIEW:
SOLD 11/18/21 FOR $15,400,000
$110,000 per unit
Deaton Investment Real Estate represented the seller and was the sole broker in this off-market transaction. Located in Burlington, N.C., Colony Apartments feature an attractive mix of one-, two-, and three-bedroom apartments. Amenities include a pool, playground, clubhouse and spacious grounds. The property offers a proven value-add opportunity in a submarket with rapidly increasing rents.
UNIT INFORMATION
| Unit | Type | Size | Rent |
|---|---|---|---|
| 32 UNITS | 1BD/1BA | 728 SF | $725-$825 |
| 55 UNITS | 2BD/1.5BA | 988 SF | $835-$950 |
| 53 UNITS | 3BD/2BA | 1,255 SF | $945-$1,045 |
PROPERTY INFORMATION
| PIN | 8864458242 |
| Tax Value | $6,250,483 |
| Taxes | $41,046.92 |
| Lot Size | 9.80 ACERS |
| Year Built | 1972 |
| Exterior | VINYL |
| Floors | CARPET, LVP |
| Foundation | SLAB |
| HVAC | CENTRAL HEATING & AIR |
| Utilities | TENANT PAYS UTILITIES |
| Legal Description | S MEBANE ST |
| Appliances | RANGE, REFRIGERATOR, DISHWASHER, WASHER & DRYER CONNECT |
| Sold Date | 2021-11-18 |
| Zoning | MF-A |
Agent Information Michael Deaton
Location Map
COLONY – 140 UNITS IN BURLINGTON, NC
Address:
2008 S Mebane St, Burlington, NC 27215, USA
Price: $
15,400,000
Unit:
140