1600 Poole Rd - Apartments FOR SALE


Raleigh, NC 27610- South Central
$1,150,000 USD
864-660-3899
1600 Poole Rd, Raleigh, NC for Sale
$1,150,000 USD
Apartments - FOR SALE
1/10
null | Request Cap Rate

1600 Poole Rd
Raleigh, NC 27610
South Central


HIGHLIGHTS

  • Less than one mile from Downtown Raleigh
  • 100% occupied | Eight 2 bedroom / 1 bathroom units
  • New roof & 6 HVAC systems replaced
  • 5 of 8 units updated with LVP flooring throughout
  • Below-market rents offer value-add upside

OVERVIEW

The property consists of eight well-designed two-bedroom, one-bath units averaging approximately ±720 square feet, each featuring an open floor plan and washer/dryer hookups. The community is currently 100% occupied, demonstrating strong tenant demand in this highly desirable infill Raleigh location. Over the past five years, ownership has completed several significant capital improvements, including a new roof, replacement of six HVAC systems, and interior renovations to five units featuring LVP flooring, granite countertops, and updated bathrooms. These improvements reduce near-term capital expenditures for a new owner while enhancing the property's long-term value. With average in-place rents of approximately $1,021, well below Raleigh's two-bedroom fair market rent of $1,646, the property offers a compelling value-add opportunity through continued unit upgrades and market rent alignment.

FOR SALE DETAILS

PRICE

$1,150,000 USD

PRICE/SF

$149 USD /SF

# OF UNITS

8

PRICE/UNIT

$143,750

CAP RATE

Request Cap Rate

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

White Oak Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1984

PARKING SPACES

8

LAND DETAILS

LAND ACRES

0.45 AC

LAND SF

19,602 SF

ZONING

RX3 & TOD

APN/PARCEL ID

1713.06-38-9209-000

ASK ABOUT THIS PROPERTY

Will BoyleAPG AdvisorsMore Info
864-660-3899

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Will BoyleAPG AdvisorsMore Info
864-660-3899

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