PINE RIDGE – 60 UNITS IN CARY, NC

Price:

$8,200,000

Status:

Sold

Address:

409 Galveston Ct, Cary, NC 27513, USA

Overview:

SOLD 12/16/20 FOR $8,200,000
$136,667 per unit
Deaton represented the seller and was the sole broker in this off-market transaction.

Pine Ridge apartments feature 60 units within minutes of multiple dining, retail, entertainment and employment centers in the rapidly developing core of downtown Cary, N.C. Built in 1973, the property consists of eleven buildings situated on 5.22 acres. The seller maintained the property well, but the opportunity exists to add value and raise income with strategic improvements and renovations.

Unit Information

UnitTypeSizeRent
12 UNITS1 BD/1 BA - FLATS725 SF$925
24 UNITS2 BD/1 BA - TOWNHOMES936 SF $1,025
11 UNITS2 BD/2 BA - TOWNHOMES1,197 SF $1,125
13 UNITS3 BD/2 BA - TOWNHOMES1,197 SF$1,175

Property Information

PIN 0764323860 Tax Value $4,773,887
Taxes $46,551.92 Lot Size 5.22 ACRES
Year Built 1973 Exterior BRICK, WOOD
Floors CARPET, VINYL Foundation SLAB
HVAC CENTRAL A/C, HEAT PUMP Owner Financing NONE
Utilities OWNER PAYS WATER Appliances RANGE, REFRIGERATOR, WASHER & DRYER CONNECTIONS
Legal Description PINE RIDGE APTS Zoning TC-C
Sold Date 12/16/2020