GROSVENOR GARDEN APARTMENTS – 62 UNITS IN DOWNTOWN RALEIGH, N.C.

PRICE:
$ 12,000,000
STATUS:
Sold
ADDRESS:
1101 Hillsborough St, Raleigh, NC 27603, USA
OVERVIEW:

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.

Link To Tax Records
UNIT INFORMATION
Unit Type Size Rent
58 UNITS STUDIO 400 SF $795 AVG
4 UNITS 1 BD/1 BA 600 - 800 SF $995 - $1,250
PROPERTY INFORMATION
PIN 1703295526
Tax Value $5,361,225
Taxes $28,381.20
Lot Size 1.74 ACRES
Year Built 1939
Exterior BRICK
Floors HARDWOOD, TILE, VINYL
Foundation BASEMENT
HVAC PTAC UNITS
Utilities OWNER PAYS WATER, TRASH, AND COMMON ELECTRIC
Legal Description 1101 HILLSBOROUGH STREET
Appliances RANGE, REFRIGERATOR, COMMON WASHER/DRYER
Sold Date 2022-11-18
Zoning RX-3

Location Map

GROSVENOR GARDEN APARTMENTS – 62 UNITS IN DOWNTOWN RALEIGH, N.C.
Address: 1101 Hillsborough St, Raleigh, NC 27603, USA Price: $ 12,000,000 Unit: 62