THE CHELSEA APARTMENTS – 280 UNITS IN RALEIGH, NC

Price:

$45,000,000

Status:

Sold

Address:

3008 Calvary Dr, Raleigh, NC 27604, USA

Overview:

SOLD 12/30/2022 FOR $45,000,000
$160,715 per unit

Deaton Investment Real Estate represented the buyer and was the sole broker in this off-market transaction. Located in Raleigh, N.C., the Chelsea Apartments is a 280-unit apartment community situated on a 14.8 acre site. Built in 1985, the property features a variety of one- and two-bedroom floorplans. Amenities include a clubhouse, fitness center, two pools, pet play area, playground, and laundry facilities.  This property presents an opportunity to acquire an asset in a competitive growth market and increase value through strategic improvements.

Unit Information

UnitTypeSizeRent
96 UNITS1BD/1BA600 SF $995 (AVG)
64 UNITS 1BD/1BA749 SF$1,016 (AVG)
80 UNITS 2BD/1.5BA880 SF$1,164 (AVG)
40 UNITS 2BD/2BA1,049 SF$1,277 (AVG)

Property Information

PIN 1726324278 Tax Value $21,564,612
Taxes $223,941.70 Lot Size 14.80 ACRES
Year Built 1985 Exterior BRICK, VINYL
Floors CARPET, VINYL, LVP Foundation SLAB, CRAWL
HVAC CENTRAL A/C, HEAT PUMPS Owner Financing NONE
Utilities OWNER PAYS WATER Appliances RANGE, REFRIGERATOR, DISHWASHER, MICROWAVE, W/D CONNECTIONS
Legal Description PROP NORTH BOULEVARD PLAZA BM1984-212 Zoning RX-3
Sold Date 12/30/2022