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
| Unit | Type | Size | Rent |
|---|---|---|---|
| 307 UNITS | 1, 2 & 3 BEDROOM | 575 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 |
