Well-Maintained Apartment
For Sale
$2,695,827
1005 Raleigh St, Elizabeth City, NC 27909
Twenty-four-unit multifamily portfolio with updated building systems, varied apartment layouts, and strong current occupancy.
Property Size21,500 SF
Price / SF$125.39
Days on Market40
Property Features for 1005 Raleigh St
General Information
Standard status
Active
Size
21,500 SF
Occupancy
96%
Financials
Cap Rate
9%
Gross Income
$309,600
Additional Details
Multifamily Units
24
Building Details
Year Built
1990
Listing Agency:
Rich Company
(252) 562-8889
Listed By:
Kellen Long · License #362488
Source:
Bradberrygarnerrealestate
Added: Jul 21
Changed: Aug 28
Last Checked: Aug 28 at 1:10PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Rich Company
Investment Insights
Based on property information with market context.
This multifamily portfolio comprises three properties totaling 24 apartments and approximately 21,500 square feet. The units offer two bedrooms with one or 1.5 bathrooms, with a mix of single-story apartments featuring handicap accessibility and two-story layouts. The portfolio includes four quadplex buildings, a duplex, and a six-unit building. Constructed in 1990, the property has received substantial capital work, including three roof replacements within the past 3–4 years, architectural shingles rated for 30 years, quadplex encapsulation, dehumidifiers, 14 HVAC replacements, and ongoing interior updates such as flooring, paint, and appliances.
Occupancy is currently 95.8%, with one vacant unit. The buildings are located in the City's Apartment District (AD) zoning, which may permit additional units subject to site plan and planning approval. A separate residual parcel at 0000 Park St. carries R-8 residential zoning and a restrictive covenant that limits construction for the specified covenant period.
Occupancy is currently 95.8%, with one vacant unit. The buildings are located in the City's Apartment District (AD) zoning, which may permit additional units subject to site plan and planning approval. A separate residual parcel at 0000 Park St. carries R-8 residential zoning and a restrictive covenant that limits construction for the specified covenant period.
Key Highlights
- 24‑unit portfolio totaling approximately 21,500 square feet
- 95.8% occupied with one vacant unit
- Three properties at 1005 Raleigh St., 1110 Park St., and 0000 Park St.
Property Analytics
Property Profile
Current Use
Lease Details
24
Residential units
95.8%
Occupancy
Location Intelligence
Trade Area within ½ mile
134
Businesses Nearby
Explore this area
Business Placement
Demographics for 27909, NC
40,606
Population
17,591
Households
2.3
Avg Household Size
40
Median Age
27%
College-Educated
90%
High-School Grad
226.9 sq mi
ZIP Area
179
Density / Sq Mi
$64,039
Median Household Income
$40,399
Median Earnings
$1,146
Median Rent
$223,400
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Twenty-four-unit multifamily portfolio with updated building systems, varied apartment layouts, and strong current occupancy.
Where is this apartment building located?
The property is located at 1005 Raleigh St Elizabeth City, NC.
What is the asking price?
The asking price for this property is $2,695,827.
What are key features of this property?
This property features: 24‑unit portfolio totaling approximately 21,500 square feet; 95.8% occupied with one vacant unit; Three properties at 1005 Raleigh St., 1110 Park St., and 0000 Park St.
