FLATS AT CRABTREE – 22 UNITS IN RALEIGH, NC
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%).
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 |
Agent Information Thomas T Furlow
Location Map
FLATS AT CRABTREE – 22 UNITS IN RALEIGH, NC
