LAKEWOOD – 60 UNITS IN DURHAM, NC
PRICE:
$
5,900,000
STATUS:
Sold
ADDRESS:
2201 Morehead Ave, Durham, NC 27707, USA
OVERVIEW:
SOLD 1/7/2022 FOR $5,900,000
$98,333 per unit
Deaton Investment Real Estate represented the seller and was the sole broker in this off-market transaction. Built in 1970, Lakewood Apartments features all brick construction with 60, identical one-bedroom apartments. The property is located in a submarket with rapidly rising rents, approximately one mile south of Duke University and three miles west of Downtown Durham. This is a great value-add opportunity with many long-term tenants and strong operational history.
UNIT INFORMATION
| Unit | Type | Size | Rent |
|---|---|---|---|
| 60 | 1BD/1BA | 595 SF | $625 AVG |
PROPERTY INFORMATION
| PIN | 0821-09-05-6780 |
| Tax Value | $3,769,585 |
| Taxes | $48,020.74 |
| Lot Size | 2.887 |
| Year Built | 1970 |
| Exterior | BRICK |
| Floors | CARPET, VINYL, TILE |
| Foundation | SLAB |
| HVAC | CENTRAL AIR, HEAT PUMPS |
| Utilities | OWNER PAYS WATER |
| Legal Description | PARK PLACE/PROP-NORTH STA TE CONSTRUCTION CO |
| Appliances | RANGE, REFRIGERATOR |
| Sold Date | 2022-01-07 |
| Zoning | RS-M |
Agent Information Thomas T Furlow
Location Map
LAKEWOOD – 60 UNITS IN DURHAM, NC
Address:
2201 Morehead Ave, Durham, NC 27707, USA
Price: $
5,900,000
Unit: