WEST END PORTFOLIO – 103 UNITS IN DURHAM, NC
SOLD 11/30/23 FOR $11,400,000
Deaton Investment Real Estate represented the buyer and the seller was represented by Northmarq in this transaction. The West End Portfolio is comprised of adjacent assets totaling 103 units in the Lakewood area of Durham, NC. Located two miles from Downtown Durham and only one mile from Duke University and Duke Medical Center, the assets offer residents convenient access to multiple retail, dining, entertainment and employment centers.
The Landings at West End are 55 units, built in 1964 and The Edge at West End are 48 units, built in 1969. Both properties offer an attractive basis to implement a renovation and operational value-add strategy.
UNIT INFORMATION
| Unit | Type | Size | Rent |
|---|---|---|---|
| LANDINGS - 5 UNITS | STUDIO | 500 SF APPROX. | $790 AVG |
| LANDINGS - 20 UNITS | 3 BD/2 BA | 1000 SF APPROX. | $1,100 AVG |
| LANDINGS - 30 UNITS | 2 BD/2 BA | 950 SF APPROX. | $1,150 AVG |
| EDGE - 4 UNITS | 1 BD/1 BA | 850 SF APPROX. | $990 AVG |
| EDGE - 44 UNITS | 2 BD/1 BA | 950 SF APPROX. | $1,075 AVG |
PROPERTY INFORMATION
| PIN | 082109156626, 082109158578, 0821251364 |
| Tax Value | $9,223,936 |
| Taxes | $120,824 |
| Lot Size | 4.64 ACRES |
| Year Built | 1964 & 1969 |
| Exterior | BRICK |
| Floors | CARPET, VINYL, LVT |
| Foundation | CRAWL, SLAB |
| HVAC | CENTRAL AIR, HEAT PUMPS |
| Utilities | OWNER PAYS WATER, DUMPSTER AND AREA LIGHTS |
| Legal Description | SOUTHEAST PROPERTIES I/ LT#01 AND #02 |
| Appliances | RANGE, REFRIGERATOR |
| Sold Date | 2023-11-30 |
| Zoning | RU-M |
Agent Information Thomas T Furlow
Location Map
WEST END PORTFOLIO – 103 UNITS IN DURHAM, NC
