MARQUIS GARDENS APARTMENTS – 400 UNITS IN DURHAM, NC

PRICE:
$ 63,350,000
STATUS:
Sold
ADDRESS:
901 Chalk Level Rd, Durham, NC 27704, USA
OVERVIEW:

SOLD 3/24/2022 FOR $63,350,000
$158,375 per-unit

Deaton Investment Real Estate represented the buyer and Cushman Wakefield represented the seller in this transaction. Marquis Gardens Apartments is a 400-unit, garden-style apartment community located in Durham, NC. Built in 1972, the property offers a mix of one-, two-, and three-bedroom floor plans with amenities that include a community pool, playground area, dog park, picnic areas, and laundry facilities. This offering is a great opportunity for a buyer to continue a proven value-add strategy for an asset in a thriving submarket.

Link To Tax Records
UNIT INFORMATION
Unit Type Size Rent
80 UNITS 1BD/1BA 600 SF $850-$1,145
240 UNITS 2BD/1BA 850 SF $1,050-$1,215
80 UNITS 3BD/1.5BA 1,100 SF $1,150-$1,315
PROPERTY INFORMATION
PIN 0823-11-66-2867, 0823-11-56-6356
Tax Value $25,738,394
Taxes $327,881.41
Lot Size 52.158 ACRES
Year Built 1972
Exterior BRICK
Floors CARPET, VIYNL
Foundation SLAB
HVAC CENTRAL AIR, HEAT PUMPS
Utilities TENANT PAYS UTILITIES
Legal Description PROP-GA HAMPTON FOREST LL C/LT#01-02 PT, PROP-SOUTHLAND ASSOCIATES -DEMPSEY ELLIS
Appliances RANGE, REFRIGERATOR, DISHWASHER, W/D CONNECTONS (FOR SOME UNITS)
Sold Date 2022-03-24
Zoning RS-M

Location Map

MARQUIS GARDENS APARTMENTS – 400 UNITS IN DURHAM, NC
Address: 901 Chalk Level Rd, Durham, NC 27704, USA Price: $ 63,350,000 Unit: 400