HYATT MIDTOWN – 128 UNITS IN RALEIGH, NC
PRICE:
$
18,000,000
STATUS:
Sold
ADDRESS:
1105 Navaho Dr, Raleigh, NC 27609, USA
OVERVIEW:
SOLD 4/14/2022 FOR $18,000,000
$140,625 per unit
Deaton Investment Real Estate represented the seller and was the sole broker in this off-market transaction. This deal represents the purchase of a hotel located in the North Hills area of Raleigh, N.C., and is to be converted into 128 studio apartment units. The property will be well-positioned to benefit from booming rent growth in this submarket while offering a more economic rent rate than nearby competitors.
UNIT INFORMATION
| Unit | Type | Size | Rent |
|---|---|---|---|
| 128 UNITS | STUDIO | 350-400 SF | $1,450 (MARKET) |
PROPERTY INFORMATION
| PIN | 1715261895 |
| Tax Value | $12,410,029 |
| Taxes | $120,749.58 |
| Lot Size | 2.87 ACRES |
| Year Built | 1998 |
| Exterior | STUCCO |
| Floors | CARPET, TILE, VINYL |
| Foundation | SLAB |
| HVAC | CENTRAL HEATING & AIR |
| Utilities | OWNER PAID |
| Legal Description | LO1 THE HERBERT EST BLDRUFFIN BM1997-02146 |
| Appliances | NONE |
| Sold Date | 2022-04-14 |
| Zoning | CX-7 |
Agent Information Michael Deaton
Location Map
HYATT MIDTOWN – 128 UNITS IN RALEIGH, NC
Address:
1105 Navaho Dr, Raleigh, NC 27609, USA
Price: $
18,000,000
Unit:
128