184 Units in North Raleigh
Price: |
$24,000,000 |
Status: |
Sold |
Address: |
214 Loft Ln, Raleigh, NC 27609, USA |
Overview: |
SOLD 8/17/18 for $24,000,000 Deaton Investment Real Estate represented the buyer in the acquisition of Hawthorne Midtown apartments. Upon purchasing the property, the buyer re-branded the community as Lofts at Midtown. The seller was represented by ARA Newmark. This core, B-class asset offers an opportunity to raise rents through modest renovations. The property is located in North Raleigh along the Six Forks corridor, within minutes of North Hills, I-440 and I-540. Originally built in 1975, the 184-units are a mix of 1-, 2- and 3-bedroom units. |
Unit Information
| Unit | Type | Size | Rent |
|---|---|---|---|
| 66 Units | 1-Bedroom | 800 - 1035 SF | $900 - $1,025 |
| 93 Units | 2-Bedroom | 1045 - 1250 SF | $1,000 - $1,100 |
| 25 Units | 3-Bedroom | 1335 SF | $1,150 - $1,250 |
Property Information
| PIN | 1706575340 | Tax Value | $12,128,669 |
| Taxes | $136,197.84 | Lot Size | 20.99 ACRES |
| Year Built | 1975 | Exterior | HARDBOARD |
| Floors | LVT, VINYL, CARPET | Foundation | SLAB |
| HVAC | CENTRAL AIR, HEAT PUMP | Owner Financing | NONE |
| Utilities | PAID BY TENANT | Appliances | RANGE, REFRIGERATOR, DISHWASHER, WASHER/DRYER |
| Legal Description | LOFT APT/CONSOLIDATED CAPITAL BM1998-1230 | Zoning | CUD R-10 |
| Sold Date | 08/17/2018 |
