BLUE LEAF – 32 UNITS IN DURHAM, NC
SOLD 2/22/2022 FOR $5,800,000
$181,250 per unit
Deaton Investment Real Estate was the exclusive listing broker for the seller on this transaction. Blue Leaf Apartments feature 32, one-bedroom apartments, located one mile from Duke University and Duke Hospital in Durham, N.C. Originally constructed in 1995, the owner completed a full renovation of 29 units between 2019 and 2020. These renovations boast stainless steel appliances, granite countertops, new plumbing fixtures, new electrical fixtures, updated flooring, and high-end finishes.
The offering presents investors the opportunity to acquire a well-located, stabilized, low-maintenance asset with income growth opportunities. By renovating the three classic units and raising all rents to market, the buyer can capture income upside of more than $20,000 annually.
Blue Leaf provides convenient access to major transportation corridors and multiple retail, entertainment, employment centers, world-renowned Duke University and Duke University Medical Center. The thriving economy of Durham and location appeals to a wide range of residents, contributing to the strong performance of the property and prospects for future income growth.
UNIT INFORMATION
| Unit | Type | Size | Rent |
|---|---|---|---|
| 32 UNITS | 1BD/1BA | 645 SF | $1,000 (AVG.) |
PROPERTY INFORMATION
| PIN | 0812-18-31-8938 |
| Tax Value | $2,222,168 |
| Taxes | $27,641.55 |
| Lot Size | 2.039 ACRES |
| Year Built | 1995 |
| Exterior | HARDBOARD |
| Floors | LVT, VINYL |
| Foundation | SLAB |
| HVAC | CENTRAL A/C, HEAT PUMP |
| Utilities | PAID BY TENANTS |
| Legal Description | PROP-TURNER BROWNING LAND /PT |
| Appliances | RANGE, REFRIGERATOR, DISHWASHER, MICROWAVE, WASHER & DRYER |
| Sold Date | 2022-02-22 |
| Zoning | RS-M |
Agent Information Thomas T Furlow
Location Map
BLUE LEAF – 32 UNITS IN DURHAM, NC
