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.

Link To Tax Records
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

Location Map

MORREENE WEST – 224 UNITS IN DURHAM, N.C.
Address: 700 Morreene Rd, Durham, NC 27705, USA Price: $ 31,000,000 Unit: 224