LITCHFORD 315 – 240 UNITS IN RALEIGH, NC
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.
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 |
Agent Information Michael Deaton
Location Map
LITCHFORD 315 – 240 UNITS IN RALEIGH, NC