STONESTHROW APARTMENTS – 144 UNITS IN DURHAM, NC

PRICE:
$ 15,400,000
STATUS:
Sold
ADDRESS:
3207 Stones Throw Ln, Durham, NC 27713, USA
OVERVIEW:

SOLD 2/1/19 FOR $15,400,000

Stonesthrow Apartments is a 144-unit, garden-style apartment community located within the Research Triangle Park of Durham, NC. Built in 1979, the property consists of twelve buildings on 16 acres. The property offers a mix of one- and two-bedroom floor plans with amenities that include a community pool, playground area, tennis court and picnic areas. The property offers easy highway access to all the major employment centers in Raleigh, Durham and Chapel Hill and is immediately adjacent to the Research Triangle Park (RTP), the largest high-tech and medical research park in North America.

The property has been well-maintained, but is well-positioned for a value-add strategy that would capture income upside through strategic renovations. Deaton Investment Real Estate represented the buyer in this off-market transaction. The seller was represented by Colliers International.

Link To Tax Records
UNIT INFORMATION
Unit Type Size Rent
24 UNITS 1 BD/1 BA 700 SF $779 AVG
24 UNITS 1 BD/1 BA 745 SF $808 AVG
48 UNITS 2 BD/1.5 BA 885 SF $892 AVG
48 UNITS 2 BD/1.5 BA 945 SF $880 AVG
144 UNITS $1.00 PSF AVG
PROPERTY INFORMATION
PIN 0737-01-49-5370
Tax Value $10,073,127
Taxes $124,599.01
Lot Size 15.94 ACRES
Year Built 1979
Exterior VINYL, WOOD
Floors CARPET, TILE, LVT
Foundation SLAB
HVAC CENTRAL AIR, HEAT PUMPS
Utilities PAID BY TENANTS
Legal Description PROP-WARD ROBERT E JR
Appliances RANGE, REFRIGERATOR, DISHWASHER, W/D CONNECTIONS
Sold Date 2019-02-01
Zoning RU-M

Location Map

STONESTHROW APARTMENTS – 144 UNITS IN DURHAM, NC
Address: 3207 Stones Throw Ln, Durham, NC 27713, USA Price: $ 15,400,000 Unit: