THE GROVES APARTMENTS – 108 UNITS

Price:

$8,075,000

Status:

Sold

Address:

5070 N New Hope Rd, Raleigh, NC 27604, USA

Overview:

SOLD 06/15/17 FOR $8,075,000 ($74,768/UNIT)

The Groves apartments is a 108-unit garden apartment community, centrally located off Highway 1 with easy access to I-540 and I-440 as well as several key employment centers. The unit mix contains a variety of 1 and 2 bedroom floorplans.

Deaton Investment Real Estate represented the buyer and the seller was represented by HFF.

Unit Information

UnitTypeSizeRent
16 Units1 BD / 1 BA825 SF$830 MKT
20 Units2 BD / 1 BA1060 SF$930 MKT
20 Units2 BD / 2 BA1108 SF$980 MKT
52 Units1 BD / 1 BA767 SF$820 MKT

Property Information

PIN 1726542749 Tax Value $8,421,141
Lot Size 11.19
Year Built 1979 Exterior Aluminum Vinyl
Sold Date 06/15/2017