MIDTOWN PARK – 60 UNITS IN RALEIGH, NC

Price:

$9,670,000

Status:

Sold

Address:

5422 Tralee Pl, Raleigh, NC 27609, USA

Overview:

SOLD 4/9/21 FOR $9,670,000
($161,167 per unit)

Deaton Investment Real Estate represented the seller and was the sole broker in this off-market transaction.

Midtown Park Aparments is located on Millbrook Road, near the intersection of Six Forks Road. This midtown location is a high-growth area where rental demand and rent growth has outpaced the market. The property features 60, townhome-style floor plans with high-end finishes offering a turn-key investment opportunity in one of the nations hottest growth markets.

Unit Information

UnitTypeSizeRent
60 UNITS2 BD/1.5 BA1,100 SF APPROX. $1,150 AVG.

Property Information

PIN 1706668169 Tax Value $7,836,127
Taxes $76,030.68 Lot Size 5.85 ACRES
Year Built 1971 Exterior BRICK, HARDBOARD
Floors LVP, TILE, VINYL Foundation CRAWL
HVAC CENTRAL A/C, HEAT PUMP Owner Financing NONE
Utilities WATER IS SUBMETERED Appliances RANGE, REFRIGERATOR, DISHWASHER, WASHER/DRYER
Legal Description COLONY TOWNHOUSES PHIII Zoning R-6
Sold Date 04/09/2021