1000 Raven Street - Apartments FOR SALE


Durham, NC 27704- Northeast Durham
$2,160,000 USD
617-378-2515
1000 Raven Street, Durham, NC for Sale
$2,160,000 USD
Apartments - FOR SALE
1/4
null | 6.62% Cap Rate

1000 Raven Street
Durham, NC 27704
Northeast Durham


OVERVIEW

Raven Street is a forward-purchase offering of eight new-construction, fully detached single-family homes at Raven & Thelma Streets in established north Durham, NC, minutes from Duke Regional Hospital, downtown Durham, and Duke University with quick access to I-85 and NC-147. Built from two efficient two-story plans (the 2 BR/2.5 BA Haymount and the 3 BR/2.5 BA Kenmore with a main-level primary suite), each home offers a covered front porch, rear patio, backyard, paved driveway, and individually metered tenant-paid utilities, with no HOA dues or leasing restrictions. Offered at $2,160,000 ($270,000/home) with a 4+4 phased takedown at certificate of occupancy in January and April 2027, the portfolio is delivered vacant with builder warranties intact, projects $192,000 in Year-1 gross rent at a 6.62% going-in cap rate, and is well suited to a 1031 exchange buyer. All figures, projections, delivery dates, and renderings are estimates only and subject to change. Prospective buyers should conduct their own independent due diligence and consult their own legal, tax, and financial advisors before making any decision.

FOR SALE DETAILS

PRICE

$2,160,000 USD

PRICE/SF

$242 USD /SF

# OF UNITS

8

PRICE/UNIT

$270,000

CAP RATE

6.62%

% LEASED

-

STATUS

Under Construction

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Raven Street

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

2027

PARKING SPACES

-

LAND DETAILS

LAND ACRES

-

LAND SF

-

ZONING

-

APN/PARCEL ID

233814

ASK ABOUT THIS PROPERTY

Reid TerrileCape ResidentialMore Info
617-378-2515

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Reid TerrileCape ResidentialMore Info
617-378-2515

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.