WESTRIDGE WOODS | 16 UNITS IN RALEIGH, NC

SOLD

6/6/25 for $2,050,000 or $128,125 per unit

Deaton GREA, as the exclusive listing broker for the seller, is pleased to present these 16 units in Raleigh, N.C. The property offers a prime location near Downtown Raleigh, NC State University, Cary, the Research Triangle Park. The property sits directly on the bus route, within walking distance to Harris Teeter grocery-anchored shopping center, and offers easy access to surrounding attractions such as the Lenovo Center.

The property features a mix of fourteen, two-bedroom units and two, three-bedroom units. The rear building is three stories and was built in 1997. It features, twelve, identical, two-bedroom and one-bathroom floor plans. The front building is brick, one-story duplex, built in 1959 with an addition on the side built in 1997 that is two-stories. The original, brick duplex features two, identical two-bed and one-bathroom floor plans. The 1997 addition features two, identical, three-bedroom and two-bathroom units. The roofs were replaced in 2020. There is some polybutelene plumbing in the 1997 buildings.

The current owner self-manages the asset and has consistently kept occupancy above 90%. There are eight current tenants receiving rental assistance, but the property is not under any affordable restrictions. This property offers an excellent opportunity for an investor to acquire a stabilized asset in the heart of Raleigh’s thriving market.