3824 Mitchell Mill Rd - Apartments FOR SALE


Raleigh, NC 27616- Greater East Raleigh
$5,999,000 USD
919-909-0004
3824 Mitchell Mill Rd, Raleigh, NC for Sale
$5,999,000 USD
Apartments - FOR SALE
1/22
null | Request Cap Rate

3824 Mitchell Mill Rd
Raleigh, NC 27616
Greater East Raleigh


OVERVIEW

Mitchell Mill presents a rare opportunity to acquire a full 14-unit, new-construction townhome community in North Raleigh—an increasingly sought-after rental and for-sale submarket with strong connectivity and long-term growth fundamentals. This craftsman-style collection is thoughtfully designed to appeal to today’s renter and homeowner alike, offering a highly functional three-level layout across all units. Each residence features three bedrooms, flexible loft space, open-concept main living areas, and private outdoor decks—delivering the space and versatility that drives consistent demand. Interiors are built for durability and livability, with second-floor laundry, ample storage, spacious primary suites with walk-in closets and double vanities, and one-car garages for secure parking. The adaptable upper-level lofts provide added value, easily serving as home offices, media rooms, or additional living space—an increasingly important feature for modern tenants. Strategically located in North Raleigh, Mitchell Mill benefits from immediate access to I-540, providing seamless connectivity to Downtown Raleigh, RTP, and surrounding employment hubs. The community is also proximate to everyday retail, dining, and outdoor amenities including nearby greenways and trail systems—enhancing long-term tenant appeal and retention. With new construction quality, efficient layouts, and a location positioned for continued growth, Mitchell Mill offers investors a compelling opportunity for stable cash flow, strong lease-up potential, and long-term appreciation.

FOR SALE DETAILS

PRICE

$5,999,000 USD

PRICE/SF

$213 USD /SF

# OF UNITS

14

PRICE/UNIT

$428,500

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Mitchell Mill - 14 unit new construction

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

2026

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.5 AC

LAND SF

65,340 SF

ZONING

R-4

APN/PARCEL ID

1747.01-37-6009-000

ASK ABOUT THIS PROPERTY

Johnny ChappellCompassMore Info
919-909-0004

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Johnny ChappellCompassMore Info
919-909-0004

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