LITCHFORD 315 – 240 UNITS IN RALEIGH, NC

PRICE:
$ 83,000,000
STATUS:
Sold
ADDRESS:
6320 Dowd Forest Dr, Raleigh, NC 27615, USA
OVERVIEW:

SOLD 6/16/2022 FOR $83,000,000
$345,833 per unit

Deaton Investment Real Estate represented the seller and was the sole broker in this off-market transaction. Litchford 315 apartments is a class-A, garden-style community, built in 2021 featuring 240 units. The property boasts a brand new, modern-style amenity package that includes the following: fitness center, flex fitness area, clubhouse, breakfast bar, business center, dog park, pool, and grilling areas. Located in the heart of North Raleigh, this asset is set to thrive as it offers its residents the rare opportunity to live in the one of the most desirable locations in all of Raleigh. As market rents in Raleigh continue to increase alongside employment and wage growth, Litchford 315 is well positioned for future upside. The developer completed the lease-up in May of 2022.

Link To Tax Records
UNIT INFORMATION
Unit Type Size Rent
72 UNITS 1BD/1BA 810 SF $1,500 - $1,600
120 UNITS 2BD/2BA 1,010 SF - 1,124 SF $1,700 - $1,800
48 UNITS 3BD/2BA 1,231 SF - 1,258 SF $1,900 - $2,000
PROPERTY INFORMATION
PIN 1717904482
Tax Value $37,581,506
Taxes $77,774.38
Lot Size 13.98 ACRES
Year Built 2021-2022
Exterior BRICK & VINYL
Floors CARPET, VINYL, LVP
Foundation SLAB
HVAC CENTRAL AIR/HEAT PUMP
Utilities PAID BY TENANTS
Legal Description LO1 LITCHFORD ROAD APARTMENTS BM2020-01184
Appliances RANGE, REFRIDGERATOR, DISHWASHER, MICROWAVE, WASHER/DRYER CONNECTION
Sold Date 2022-06-16
Zoning RX-3

Location Map

LITCHFORD 315 – 240 UNITS IN RALEIGH, NC
Address: 6320 Dowd Forest Dr, Raleigh, NC 27615, USA Price: $ 83,000,000 Unit: 240