HISTORIC BOYLAN – 56 UNITS IN DOWNTOWN RALEIGH, NC
SOLD 12/21/2021 FOR $14,000,000
$250,000 per unit
Deaton Investment Real Estate represented the seller as the exclusive listing broker and was the sole broker in this transaction. Historic Boylan, a 56 unit, boutique apartment community in the urban core of Raleigh, NC. Historic Boylan was built in 1935 and maintains many of its original features including hardwood floors throughout, heavy molding and trim, and all-brick exterior with stately accents. The property is extremely well-located within walking distance of Raleigh’s Downtown Business District, NC State University, and multiple retail, dining, entertainment and employment centers. Current rents offer an opportunity to capture income-upside across a mix of 37, one-bedroom and 18, two-bedroom apartments. The property also includes one ground-floor commercial unit.
Virtual Tours: ONE-BEDROOM UNIT / TWO-BEDROOM UNIT
UNIT INFORMATION
| Unit | Type | Size | Rent |
|---|---|---|---|
| 37 UNITS | 1 BD/1 BA | 555 SF - 750 SF | $900 - $1,275 |
| 18 UNITS | 2 BD/1 BA | 965 SF | $1,325 - $1,675 |
| 1 UNIT | COMMERCIAL SPACE | 1,700 SF | $2,027 |
PROPERTY INFORMATION
| PIN | 1703392186 (property), 1703383867 (parking lot) |
| Tax Value | $8,159,924 |
| Taxes | $40,798.03 (property, discounted for historic status), $5,414.06 (parking lot) |
| Lot Size | 1.14 ACRES (property), .18 ACRES (parking lot) |
| Year Built | 1935 |
| Exterior | BRICK |
| Floors | HARDWOOD |
| Foundation | CRAWL, BASEMENT |
| HVAC | CENTRAL A/C, HEAT PUMP |
| Utilities | OWNER PAYS WATER, TRASH AND COMMON AREA LIGHTS |
| Legal Description | APARTMENTS 753 HILLSBOROUGH ST |
| Appliances | RANGE, REFRIGERATOR, COMMON AREA WASHER & DRYER |
| Sold Date | 2021-12-21 |
| Zoning | RX-4 |
Agent Information Michael Deaton
Location Map
HISTORIC BOYLAN – 56 UNITS IN DOWNTOWN RALEIGH, NC
