GLEN ROYALL MILL – 56 UNITS IN WAKE FOREST, NC

PRICE:
$ 6,150,000
STATUS:
Sold
ADDRESS:
876 N Main St, Wake Forest, NC 27587, USA
OVERVIEW:

SOLD 1/31/24 FOR $6,150,000
$109,821 per unit

Deaton Investment Real Estate represented the buyer and GREA represented the seller in this off-market transaction. Conveniently located just north of Downtown Wake Forest, N.C., Glenn Royall Mill sits on more than 17 acres and was built in 1918 as part of the Glen Royall Mill Village District. In 1994 the property was renovated and converted into apartments with the assistance of Low Income Housing Tax Credits. These tax credit restrictions are set to expire in 2027. The property features a mix of one-, two-, and three-bedroom floorplans with hardwood floors and large windows.

Link To Tax Records
UNIT INFORMATION
Unit Type Size Rent
11 UNITS 1 BD/1 BA 575 SF $800 AVG
39 UNITS 2 BD/1 BA 625 SF $950 AVG
6 UNITS 3 BD/1.5 BA $1,050 AVG
PROPERTY INFORMATION
PIN 1841764130
Tax Value $4,953,913
Taxes $58,616
Lot Size 17.12 ACRES
Year Built 1918, RENOVATED 1994
Exterior BRICK
Floors HARDWOOD, VINYL, CARPET
Foundation SLAB, PARTIAL BASEMENT
HVAC CENTRAL AIR, HEAT PUMPS
Utilities OWNER PAYS WATER AND TRASH
Legal Description GLEN ROYAL MILL BM2015-00598
Appliances RANGE, REFRIGERATOR, DISHWASHER
Sold Date 2024-01-31

Location Map

GLEN ROYALL MILL – 56 UNITS IN WAKE FOREST, NC
Address: 876 N Main St, Wake Forest, NC 27587, USA Price: $ 6,150,000 Unit: 56