PARKSIDE FIVE POINTS – 41 UNITS IN RALEIGH

PRICE:
$ 5,100,000
STATUS:
Sold
ADDRESS:
2613 McNeil St, Raleigh, NC 27608, USA
OVERVIEW:

Sold 9/10/19 for $5,100,000. Deaton Investment Real Estate was the seller’s exclusive agent and the sole broker in the transaction.

Parkside Five Points offers spacious, town home-style apartments in Raleigh’s Five Points neighborhood. With convenient access to the Beltline, North Hills, and downtown Raleigh, these apartments enjoy a premier location nestled in a peaceful and quiet setting. The property is across from Raleigh’s Kiwanis Park, and within walking distance to numerous dining, shopping and entertainment options.

Originally built in 1968, current ownership recently updated all the unit finishes with new cabinets, counter tops, appliances, flooring, blinds, fixtures and more. Additionally, all roofs were replaced in 2015. The property offers covered picnic areas, modern grilling stations, a dog park and spacious grounds for leisure and community gardens.

With new management in place since March of 2019, leasing velocity has improved and the property is projected to be 100% leased this summer. New lease signings achieved rent rates of $1,295 or higher, offering the opportunity to raise in-place rents at renewals.

Link To Tax Records
UNIT INFORMATION
Unit Type Size Rent
38 UNITS 2 BD/1.5 BA 1,120 SF $1,300 MKT
1 UNIT 2 BD/2 BA 1,120 SF $1,350 MKT
1 UNIT 2 BD/1 BA 1,200 SF $1,400 MKT
1 UNIT 1 BD/1 BA 900 SF $950 MKT
41 UNITS $53,100 POTENTIAL RENT
PROPERTY INFORMATION
PIN 1705917942
Tax Value $3,068,027
Taxes $34,341.26
Lot Size 4.17 ACRES
Year Built 1968
Exterior WOOD, BRICK, T1-11
Floors HARDWOOD, TILE, LVT
Foundation CRAWL
HVAC CENTRAL AIR, HEAT PUMPS
Utilities WATER IS SUBMETERED, ELECTRICITY INDIVIDUALLY METERED
Legal Description LO1 PROP JOSLIN REALTY
Appliances RANGE, REFRIGERATOR, DISHWASHER, WASHER AND DRYER
Sold Date 2019-09-10
Zoning R-10

Location Map

PARKSIDE FIVE POINTS – 41 UNITS IN RALEIGH
Address: 2613 McNeil St, Raleigh, NC 27608, USA Price: $ 5,100,000 Unit: