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 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. |
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 | Owner Financing | NONE |
| Utilities | TENANT PAYS UTILITIES | Appliances | RANGE, REFRIGERATOR, DISHWASHER, W/D CONNECTONS (FOR SOME UNITS) |
| Legal Description | PROP-GA HAMPTON FOREST LL C/LT#01-02 PT, PROP-SOUTHLAND ASSOCIATES -DEMPSEY ELLIS | Zoning | RS-M |
| Sold Date | 03/24/2022 |
