FLATS AT CRABTREE – 22 UNITS IN RALEIGH, NC

PRICE:
$ 3,000,000
STATUS:
Off Market
ADDRESS:
5104 Hollyridge Dr, Raleigh, NC 27612, USA
OVERVIEW:

Deaton is pleased to present the exclusive offering of The Flats at Crabtree. These 22 units are located in the heart of Raleigh, N.C., within minutes of multiple employment, retail, dining and entertainment centers. Originally built in 1986 as a hotel, the property was converted to apartments and completely renovated in 2019-2020. Renovations included all new plumbing and electrical, a new roof, windows, cabinets, counters, appliances, flooring, PTAC units, fixtures, and more. The property maintains an average occupancy of 95% and represents a great opportunity to acquire a turnkey asset in a great location.

The property can be purchased free-and-clear or, on assumption of the existing agency debt (loan balance is approximately $1.63m with a rate of 3.36%).

CLICK HERE FOR A VIDEO TOUR OF A TYPICAL ONE-BEDROOM

Link To Tax Records
UNIT INFORMATION
Unit Type Size Rent
5 UNITS STUDIO 500 SF APPROX. $975
17 UNITS 1 BD/1 BA 600 SF APPROX. $1,150
PROPERTY INFORMATION
PIN 0786855156
Tax Value $1,846,003 (2024 REVALUATION PENDING)
Taxes $20,481.43
Lot Size .71 ACRES
Year Built 1986 / 2020
Exterior BRICK
Floors LVP, CARPET
Foundation SLAB, CRAWL
HVAC PTAC UNITS
Utilities OWNER PAYS INTERNET/CABLE, WATER AND HOT WATER
Legal Description LO2 HOLLY RIDGE BM2011-00509
Appliances RANGE, REFRIGERATOR, WASHER AND DRYER
Zoning CX-3

Location Map

FLATS AT CRABTREE – 22 UNITS IN RALEIGH, NC
Address: 5104 Hollyridge Dr, Raleigh, NC 27612, USA Price: $ 3,000,000 Unit: 22