600 Units in North Raleigh

PRICE:
$ 63,000,000
STATUS:
Sold
ADDRESS:
6615 The Lakes Dr, Raleigh, NC 27609, USA
OVERVIEW:

SOLD 04/18/19 FOR $63,000,000

Deaton Investment Real Estate represented the buyer in the acquisition of Hawthorne North Ridge Apartments. Upon purchasing the property, the buyer re-branded the community as Willow Creek North Ridge. The seller was represented by ARA Newmark.

This core, B-class asset offers an opportunity to raise rents through strategic renovations. The property is located in North Raleigh within minutes of North Hills, I-440 and I-540. Originally built in 1973, the property offers attractive floor plans and amenity spaces.

 

Link To Tax Records
UNIT INFORMATION
Unit Type Size Rent
600 Units 1 & 2 BEDROOM 535 - 1000 SF $735 - $950
PROPERTY INFORMATION
PIN 1717003706
Tax Value TBD
Taxes TBD
Lot Size 73 ACRES
Year Built 1973
Exterior HARDBOARD
Floors LVT, VINYL, CARPET
Foundation SLAB
HVAC CENTRAL AIR, HEAT PUMP
Utilities PAID BY TENANT
Legal Description LO3 NORTH RIDGE APARTMENTS BM2019-00636
Appliances RANGE, REFRIGERATOR, DISHWASHER, WASHER/DRYER
Sold Date 2019-04-18
Zoning PUD

Location Map

600 Units in North Raleigh
Address: 6615 The Lakes Dr, Raleigh, NC 27609, USA Price: $ 63,000,000 Unit: 600