GROSVENOR GARDEN APARTMENTS – 62 UNITS IN DOWNTOWN RALEIGH, NC

SOLD 11/18/2022 FOR $12,000,000
$193,548 per unit

Deaton Investment Real Estate represented the buyer and the sellers were represented by V.G. Murray and Worthy & Watchel in this transaction. Built in 1939, Grosvenor Gardens Apartments are designated as a Raleigh Historic Landmark. The beautiful, three-story, brick buildings feature a center courtyard with unparalleled landscaping and natural accents. The boutique asset features 58 studio apartments and four, one-bedroom apartments. Residents enjoy the benefit of an irreplaceable location within walking distance of Raleigh’s Downtown Business District, N.C. State University, and multiple retail, dining, entertainment and employment centers. The family of the original developer was the seller and the purchaser was a non-profit that will continue to operate the property as naturally occurring affordable housing.