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1114 Chaney RdRaleigh, NC 27606

8-Unit Apartment Complex near NC State

Overview

Added:
Dec 11, 2024
Days on market:
117
Discover a prime investment opportunity with Chaney Oaks Apartments, an 8-unit garden-style complex situated on a 1.38-acre lot in Raleigh's tranquil Kentwood neighborhood. Built in 1897, this single-story building boasts 7,061 square feet and is currently 88% occupied, featuring a blend of student and professional tenants. The property's R-6 zoning allows for flexibility. Its convenient location offers easy access to NC State University and Meredith College, along with nearby bus routes, restaurants, and grocery stores. Recent upgrades include a modernized HVAC system. The property presents significant value-add potential due to rents currently below market rates. The property's APN is 0793091934. This well-maintained complex provides a stable income stream with opportunities for future growth. Its strong occupancy rate and prime location make it an attractive investment for those seeking a multifamily property in a thriving area of Raleigh, North Carolina. The address is 1114 Chaney Rd, Raleigh, NC 27606. This is a rare opportunity to acquire a well-positioned apartment complex with immediate income and considerable upside.

Highlights

  • 8-unit garden-style apartment complex on a 1.38-acre lot in Raleigh's Kentwood neighborhood.
  • 7,061 square feet, single-story building, built in 1897, currently 88% occupied with a mix of student and professional tenants.
  • R-6 zoning allows for flexibility and future development.
  • Convenient location near NC State University, Meredith College, public transportation, restaurants, and grocery stores.
  • Recent HVAC upgrades; below-market rents offer significant value-add potential.
  • Property address: 1114 Chaney Rd, Raleigh, NC 27606; APN: 0793091934.

Property Details for 1114 Chaney Rd

Property type
Apartment buildings
Square Feet
7,061 SF
Year Built
1897
Stories
1
Lot Size (sq. ft)
60,113 SF

Location Insight

City
Raleigh
County
Wake
State
North Carolina
Latitude
35.782819761427
Longitude
-78.696042051767
1114 Chaney Rd, Raleigh, North Carolina

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1114 Chaney Rd
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