2209-2211 Morehead Avenue new to site Save Request In-Person Tour Request Virtual Tour
Durham,NC 27707
Key Details
Property Type Condo
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Square Footage 9,148 sqft
Price per Sqft $217
Subdivision Not In A Subdivision
MLS Listing ID 10102564
Bedrooms 22
Full Baths 13
Year Built 1960
Annual Tax Amount $12,565
Lot Size 1.010 Acres
Property Sub-Type Apartment
Property Description
Investor Opportunity - Renovated MF Near Duke | 5.5% Cap | Stable Rents + Upside
Charming, fully leased multifamily asset less than 1 mile from Duke University, offering strong in-place cash flow and a 5.6% cap rate. Unit mix includes rare 3BR/2BA and 2BR/2BA layouts that attract long-term tenants seeking single-family alternatives. Recent upgrades: new roof, HVAC system upgrades, drainage improvements, modernized kitchens/baths, and selective interior renovations (hardwoods, appliances, reconfigured closets). Additional Low turnover, proven rental history, and walkable yet private setting. Ideal for investors seeking stable performance with value-add levers.
Location
State NC
County Durham
Zoning RS-M
Interior
Heating Central
Cooling Central Air
Flooring Carpet,Hardwood,Vinyl
Exterior
View Y/N Yes
Roof Type Shingle
Building
Foundation Brick/Mortar
Sewer Public Sewer
Water Public
Structure Type Brick Veneer
New Construction No
Others
Special Listing Condition Standard