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.
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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 | Owner Financing | NONE |
| Utilities | PAID BY TENANT | Appliances | RANGE, REFRIGERATOR, DISHWASHER, WASHER/DRYER |
| Legal Description | LO3 NORTH RIDGE APARTMENTS BM2019-00636 | Zoning | PUD |
| Sold Date | 04/18/2019 |
