191 Chamberlain St - Dormitory FOR SALE


Raleigh, NC 27607
$1,350,000 USD
919-704-0101
191 Chamberlain St, Raleigh, NC for Sale
$1,350,000 USD
Dormitory - FOR SALE
1/20
null | 4.04% Cap Rate

191 Chamberlain St
Raleigh, NC 27607


HIGHLIGHTS

  • The Campus Edge Dormitory caters to Raleigh's strong leasing demand focused on university students.
  • Located on the highly sought-after Chamberlain Street, near North Carolina State University.
  • The four-unit, 4,460-square-foot dormitory building has great setbacks for redevelopment.
  • Within walking distance to Cameron Village and a variety of retail, dining, and entertainment options, ensuring convenience for tenants.

OVERVIEW

The Campus Edge dormitory building is situated just one block from NCSU. The property is ideally located off a highly sought-after college street, ensuring consistent demand from students and young professionals. There is strong leasing demand via the property's proximity to campus and the Village District, making it an attractive rental opportunity with high-income potential. Comparable rental units in the area achieve impressive rates per bed. This income-producing asset has four bedrooms, each with three-and-a-half baths. It boasts a potential rental income of approximately $5,000 per month, supported by a strong rental market and high occupancy rates in the surrounding area. There is redevelopment potential being zoned RX-3, which offers flexible options for future development, including single-family, multifamily, or group living uses, providing an excellent long-term investment opportunity. Overall, tenants enjoy the features of a spacious four-car garage, walk-in closets, and strong lease demand offering a competitive edge in the rental market. As an attractive asset to investors, inquire today to learn more about the additional benefits of rising rental rates and demand for student housing. The Campus Edge dormitory is a secure investment in a thriving market. It also has the same zoning as the apartment complex across the street! Seller Financing Available: Seller is willing to finance a portion of the sale for qualified buyers.

FOR SALE DETAILS

PRICE

$1,350,000 USD

PRICE/SF

$303 USD /SF

# OF UNITS

4

PRICE/UNIT

$337,500

CAP RATE

4.04%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

The Campus Edge - Rental Property

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Dormitory

ADD'L SUBTYPES

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1919

PARKING SPACES

4

LAND DETAILS

LAND ACRES

0.17 AC

LAND SF

7,405 SF

ZONING

RX-3

APN/PARCEL ID

-

ASK ABOUT THIS PROPERTY

Tyler MillsSteele Commercial, LLCMore Info
919-704-0101

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

Tyler MillsSteele Commercial, LLCMore Info
919-704-0101

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