THE VILLAGES OF CHAPEL HILL – 307 UNITS IN CARRBORO

Price:

$34,500,000

Status:

Sold

Address:

500 Smith Level Rd, Carrboro, NC 27510, USA

Overview:

SOLD 5/17/19 FOR $34,500,000

Located two miles from the University of North Carolina at Chapel Hill, The Villages of Chapel Hill feature an attractive mix of 1, 2 and 3-bedroom floor plans. The property was built in phases between the 1970s and 1980s with an average year built of 1974. Ownership completed a value-add, interior upgrade program between 2015 and 2018. The property is positioned to capture additional income upside through operational improvements and additional interior upgrades. Five units were off-line at the time of the sale.

Deaton Investment Real Estate represented the seller and was the sole broker in this off-market transaction.

Unit Information

UnitTypeSizeRent
307 UNITS1, 2 & 3 BEDROOM575 SF - 1,250 SF$775 - $1,425

Property Information

PIN 9778505273 Tax Value $23,206,200
Taxes $427,086 Lot Size 19.48 ACRES
Year Built 1974 Exterior WOOD, HARDBOARD
Floors CARPET, VINYL, LVP Foundation CRAWL, SLAB
HVAC CENTRAL AIR, HEAT PUMPS Owner Financing ASSUMABLE DEBT
Utilities OWNER PAYS WATER Appliances RANGE, REFRIGERATOR, DISHWASHER, WASHER/DRYER CONNECTIONS
Legal Description W/S 1919 Zoning SEE COUNTY
Sold Date 05/17/2019