Eight-Unit Apartment
For Sale
$950,000
210 Purefoy Road #1-6 And A&B, Chapel Hill, NC 27514
Two separate buildings provide a combined eight residential units on a sizable Chapel Hill parcel.
Property Size4,320 SF
Lot Size1.79 Acres
Price / SF$219.91
Days on Market210
Property Features for 210 Purefoy Road #1-6 And A&B
General Information
Standard status
Active
Size
4,320 SF
Total Parking Spaces
8
Lot size
1.79 Acres
Property subtype
Residential Income
Zoning
Res
Lease Term
12 Months
Property Condition
Severity
Major Repairs Needed
Evidence
most are in need of full renovation
Site & Location
Road Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
8
Taxes and HOA fees
Annual Taxes
$14,741
Building Details
Building Size
4,320 SF
Year Built
1937
Buildings
2
Stories
1
Listing Agency:
Just Be Home Realty
(919) 726-9924
Listed By:
Tracy Wright · License #173232
(919) 971-2850
Source:
Breezerealtynetwork
Added: Apr 11
Changed: Nov 4
Last Checked: Nov 6 at 3:21AM
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 Just Be Home Realty
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Investment Insights
Based on property information with market context.
The property comprises two apartment buildings totaling eight units: one structure contains two units and the other contains six. Built in 1937, the buildings offer 4,320 square feet and sit on a 1.79-acre parcel. Portions of the units have received updates, while most require full renovation; the sale is offered as-is.
The property is on Purefoy Road in Chapel Hill, with UNC, downtown, Franklin Street shops and restaurants, Merritt's Grill, transit, and major corridors identified nearby. Zoning is listed as Res.
The property is on Purefoy Road in Chapel Hill, with UNC, downtown, Franklin Street shops and restaurants, Merritt's Grill, transit, and major corridors identified nearby. Zoning is listed as Res.
Key Highlights
- Eight units across two buildings: one building has two units and the other has six
- 4,320 square feet on a 1.79‑acre parcel
- Built in 1937; most units need full renovation, and the property is offered as‑is
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$37,095
Cap Rate
3.90%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$741,900
$741.9K
Cap Rate 7%
$529,929
$529.9K
Cap Rate 9%
$412,167
$412.2K
Market Conditions
NOI Build-Up for 4,320 SF
Gross rent
$59.6K $13.80/SF
− Vacancy
−$6.6K −$1.53/SF
EGI
$53.0K $12.27/SF
− OpEx
−$15.9K −$3.68/SF
NOI
$37.1K $8.59/SF
Area
Orange County, NC
Vacancy
11.11%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$741,900
Cap Rate 7%
$529,929
Cap Rate 9%
$412,167
Alternative Uses
Best Use
Multifamily LT 5
$529.9K
$463.7K – $618.3K
NOI $37,095 @ 7.0% cap · market cap 3.90%
Second Best
Apartment 5plus
$467.6K
$409.1K – $545.5K
NOI $32,729 @ 7.0% cap · market cap 3.45%
Theoretical Best
Office A
$1.39M
$1.22M – $1.63M
NOI $97,648 @ 7.0% cap · market cap 10.28%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
8
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
215
Businesses Nearby
Explore this area
Business Placement
Demographics for 27514, NC
33,809
Population
11,470
Households
2.9
Avg Household Size
27
Median Age
80%
College-Educated
98%
High-School Grad
19.6 sq mi
ZIP Area
1,725
Density / Sq Mi
$94,167
Median Household Income
$25,145
Median Earnings
$1,491
Median Rent
$628,700
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Two separate buildings provide a combined eight residential units on a sizable Chapel Hill parcel.
Where is this apartment building located?
The property is located at 210 Purefoy Road #1-6 And A&B Chapel Hill, NC.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Eight units across two buildings: one building has two units and the other has six; 4,320 square feet on a 1.79‑acre parcel; Built in 1937; most units need full renovation, and the property is offered as‑is
