DACIAN 564 – 16 UNITS IN RALEIGH, NC

SOLD 2/21/25 for $2,150,000 or $134,375 per unit

Deaton GREA, as the exclusive listing broker for the seller, is pleased to present these 16 units near downtown Raleigh, N.C. These two buildings feature identical, two-bedroom units and have benefited from more than $350,000 in capital improvements over the last five years including: new roofs, new windows, new exterior staircases and landings, and interior updates to every unit. New leases are being signed at $1,325 per month and the property is being offered a a price of $140,625 per unit.

Located inside Raleigh’s I-440 Beltline, the property is nestled in a quiet residential neighborhood along Raleigh’s Greenway and adjacent to Dacian Road Park. Residents are only minutes from Downtown Raleigh, Wake Med Raleigh, and multiple retail centers.

Most of the tenants receive rental assistance through various housing programs, making this property an excellent candidate for an affordable tax abatement strategy. Each building is located in a flood zone and the current owner does maintain a flood insurance policy. During current ownership, the 564 Dacian building has seen water reach the parking lot and crawl space, but has never reached the floor level of the units.