MORREENE WEST – 224 UNITS IN DURHAM, N.C.
PRICE:
$
31,000,000
STATUS:
Sold
ADDRESS:
700 Morreene Rd, Durham, NC 27705, USA
OVERVIEW:
SOLD 7/29/2022 FOR $31,000,000
$138,392.86 per unit
Deaton Investment Real Estate represented the seller and was the sole broker in this off-market transaction. Located in Durham, N.C., Morreene West is a 224-unit, garden-style property situated across 12.78 acres. Built in 1970, Morreene West features a mix of one- and two-bedroom floorplans. This asset offers the opportunity to increase income through operational and strategic value-add improvements.
UNIT INFORMATION
| Unit | Type | Size | Rent |
|---|---|---|---|
| 160 UNITS | 1BD/1BA | 600 SF | $685 |
| 64 UNITS | 2BD/1.5BA | 769 SF | $785 |
PROPERTY INFORMATION
| PIN | 0812-23-54-3788 |
| Tax Value | $8,887,492 |
| Taxes | $113,217.76 |
| Lot Size | 12.78 ACRES |
| Year Built | 1970 |
| Exterior | BRICK & WOOD |
| Floors | CARPET & VINYL |
| Foundation | SLAB |
| HVAC | PTAC UNITS |
| Utilities | OWNER PAYS WATER |
| Legal Description | PROP-NYE C B-EVELYN COONR AD-D M WRIGHT |
| Appliances | RANGE, REFRIGERATOR, DISHWASHER |
| Sold Date | 2022-07-29 |
| Zoning | RU-M |
Agent Information Michael Deaton
Location Map
MORREENE WEST – 224 UNITS IN DURHAM, N.C.
Address:
700 Morreene Rd, Durham, NC 27705, USA
Price: $
31,000,000
Unit:
224