10 Beds
11 Baths
5,126 SqFt
10 Beds
11 Baths
5,126 SqFt
Key Details
Property Type Multi-Family
Sub Type Duplex
Listing Status Active
Purchase Type For Sale
Square Footage 5,126 sqft
Price per Sqft $486
Subdivision West Raleigh
MLS Listing ID 10202650
Bedrooms 10
Full Baths 10
Half Baths 1
HOA Y/N No
Year Built 2024
Annual Tax Amount $11,783
Lot Size 10,019 Sqft
Acres 0.23
Property Sub-Type Duplex
Source Doorify MLS
Land Area 5126
Property Description
In a volatile interest rate environment, Garden Place offers a safe harbor for investors seeking capital preservation without sacrificing yield. As a developer-built asset, every aspect of this portfolio has been engineered to maximize Debt Service Coverage and minimize operational risk.
Steps from the NC State University Belltower, this property sits in the most supply-constrained student housing pocket in Raleigh. Its "walkable" status to the campus core ensures a permanent waitlist and zero-vacancy historic performance.
The portfolio is currently 100% leased through June 2027, providing the new owner with nearly 16 months of guaranteed, uninterrupted revenue. The property is professionally managed at a 24.3% expense ratio, significantly outperforming market averages.
Location
State NC
County Wake
Community West Raleigh
Area 0.23
Zoning RX-3
Interior
Interior Features Ceiling Fan(s), High Ceilings, Kitchen Island, Open Floorplan, Pantry, Quartz Counters, Recessed Lighting, Walk-In Closet(s)
Cooling Central Air
Flooring Luxury Vinyl
Fireplace No
Appliance Dryer, Range, Washer, Freezer, Disposal, Microwave, Dishwasher, Washer/Dryer
Laundry In Unit, Laundry Room
Exterior
Parking Features Driveway, Off Street
Garage Spaces 10.0
Roof Type Shingle
Total Parking Spaces 10
Garage No
Building
Story Two
Foundation Slab
Water Public
New Construction Yes
Others
Tax ID 079420924015000 0035568
Acceptable Financing Cash, Conventional, 1031 Exchange
Listing Terms Cash, Conventional, 1031 Exchange
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "
600 Park Offices Drive, 350, Durham, North Carolina 27709, USA