UNIVERSITY APARTMENTS – 199 UNITS AT NC STATE

PRICE:
$ 21,300,000
STATUS:
Sold
ADDRESS:
700 Ryan Ct, Raleigh, NC 27606, USA
OVERVIEW:

SOLD 10/4/19 FOR $21,300,000
Deaton Investment Real Estate represented the buyer and was the sole broker in this off-market transaction.

University Apartments are located adjacent to Centennial Campus at N.C. State University in Raleigh. N.C. State is home to more than 35,000 students and 9,000 faculty and staff. Enrollment aims to add another 3,000 students over the next five years.

University Apartments are a collection of buildings built between 1958 and 2002 that total 199 units spread over 22 acres. This is the first transfer of ownership from the family that built and operated the apartments. The property has a historic occupancy rate of 98% with below market rents. The location and legacy of the asset presents a great value-add or redevelopment opportunity.

Link To Tax Records
PROPERTY INFORMATION
PIN 36 PARCELS
Tax Value PENDING 2019 REAPPRAISAL
Taxes PENDING 2019 REAPPRAISAL
Lot Size 22.7 ACRES COMBINED
Year Built 1958 - 2002
Exterior BRICK, HARDBOARD
Floors CARPET, VINYL, TILE, HARDWOOD
Foundation CRAWL
HVAC CENTRAL AIR, HEAT PUMPS
Utilities PAID BY TENANTS
Legal Description 36 PARCELS
Appliances RANGE, REFRIGERATOR, W/D CONNECTIONS
Sold Date 2019-10-31
Zoning R-10

Location Map

UNIVERSITY APARTMENTS – 199 UNITS AT NC STATE
Address: 700 Ryan Ct, Raleigh, NC 27606, USA Price: $ 21,300,000 Unit: