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.

Link To Tax Records
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

Location Map

COLONY – 140 UNITS IN BURLINGTON, NC
Address: 2008 S Mebane St, Burlington, NC 27215, USA Price: $ 15,400,000 Unit: