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.

Link To Tax Records
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

Location Map

HYATT MIDTOWN – 128 UNITS IN RALEIGH, NC
Address: 1105 Navaho Dr, Raleigh, NC 27609, USA Price: $ 18,000,000 Unit: