8-Unit Apartment
For Sale
$950,000
210 Purefoy Road #A&B And 1-6, Chapel Hill, NC 27514
Two residential buildings on a sizable Chapel Hill parcel require substantial renovation, with portions of the units previously updated.
Property Size4,320 SF
Lot Size1.79 Acres
Price / SF$219.91
Days on Market11
Property Features for 210 Purefoy Road #A&B And 1-6
General Information
Standard status
Active
Size
4,320 SF
Lot size
1.79 Acres
Property subtype
Commercial
Zoning
R-4
Property Condition
Severity
Major Repairs Needed
Evidence
most are in need of full renovation
Additional Details
Public Transit
Yes
Multifamily Units
8
Taxes and HOA fees
Annual Taxes
$14,741
Building Details
Building Size
4,320 SF
Year Built
1937
Buildings
2
Listing Agency:
Just Be Home Realty
Listed By:
Tracy F Wright · License #173232
(919) 933-0507
Source:
Eddymyers
Added: Oct 20
Changed: Oct 25
Last Checked: Oct 29 at 6:41PM
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
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
The property comprises two apartment buildings with eight units in total: one structure contains two units, while the other has six. Built in 1937, the buildings include multiple bedrooms and living areas. Some unit sections have received updates, though most of the property requires full renovation. The offering includes 4,320 square feet of building area on 1.79 acres and carries R-4 zoning.
Situated on Purefoy Road in Chapel Hill, the property is near UNC, downtown, Franklin Street businesses, Merritt's Grill, transit, and major corridors.
Situated on Purefoy Road in Chapel Hill, the property is near UNC, downtown, Franklin Street businesses, Merritt's Grill, transit, and major corridors.
Key Highlights
- Two apartment buildings contain eight units: one with two units and one with six
- 4,320 square feet of building area on a 1.79‑acre parcel
- R‑4 zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,729
Cap Rate
3.45%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$654,580
$654.6K
Cap Rate 7%
$467,557
$467.6K
Cap Rate 9%
$363,656
$363.7K
Market Conditions
NOI Build-Up for 4,320 SF
Gross rent
$67.4K $15.60/SF
− Vacancy
−$7.9K −$1.83/SF
EGI
$59.5K $13.77/SF
− OpEx
−$26.8K −$6.20/SF
NOI
$32.7K $7.58/SF
Area
Orange County, NC
Vacancy
11.70%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$654,580
Cap Rate 7%
$467,557
Cap Rate 9%
$363,656
Alternative Uses
Best Use
Apartment 5plus
$467.6K
$409.1K – $545.5K
NOI $32,729 @ 7.0% cap · market cap 3.45%
Second Best
—
—
no second resolved use
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
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 residential buildings on a sizable Chapel Hill parcel require substantial renovation, with portions of the units previously updated.
Where is this apartment building located?
The property is located at 210 Purefoy Road #A&B And 1-6 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: Two apartment buildings contain eight units: one with two units and one with six; 4,320 square feet of building area on a 1.79‑acre parcel; R‑4 zoning
