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.

Link To Tax Records
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

Location Map

LAKEWOOD – 60 UNITS IN DURHAM, NC
Address: 2201 Morehead Ave, Durham, NC 27707, USA Price: $ 5,900,000 Unit: