THE CHASE APARTMENTS – 119 UNITS IN BURLINGTON, N.C.

Price:

$21,000,000

Status:

Sold

Address:

3508 Garden Rd, Burlington, NC 27215, USA

Overview:

SOLD 8/30/2021 for $21,000,000
$176,470 per unit

Deaton Investment Real Estate represented the seller and was the sole broker in this off-market transaction. The Chase Apartments is located in the suburban market of Burlington, NC which links the Triangle (Raleigh, Durham, Chapel Hill) and Triad (Greensboro, Winston-Salem, High Point) regions. This property features 119 units built in 1992 and had an occupancy rate of 97.5% at the time of the sale. The asset offers residents unparalleled natural amenities including spacious grounds and a beautiful pond.

Unit Information

UnitTypeSizeRent
32 UNITS1 BD/1 BA770 SF$975
62 UNITS 2 BD/2 BA1,028-1,035 SF$1,100
25 UNITS3 BD/ 2BA1,219 SF$1,300
119 TOTAL UNITS

Property Information

PIN 8844857887 Tax Value $8,746,187
Taxes $109,704.60 Lot Size 24.43 ACERS
Year Built 1992 Exterior VINYL
Floors CARPET, VINYL, LVP Foundation SLAB
HVAC CENTRAL A/C Owner Financing NONE
Utilities INDIVIDUALLY METERED Appliances RANGE, REFRIGERATOR, DISHWASHER, WASHER & DRYER CONNECT
Legal Description BA 3508 GARDEN RD Zoning MDR
Sold Date 08/30/2021