Apartment Building with Two
210 Purefoy Road Unit A&B AND 16 Chapel Hill, NC 27514
210 Purefoy Road Unit A&B AND 16, Chapel Hill, NC, 27514
$1,150,000
For Sale
$1,150,000
As-is multifamily with two structures totaling two and six units, built in 1937.
Property Size4,320 SF
Lot Size1.79 Acres
Price / SF$266.20
Days on Market103
Property Features for 210 Purefoy Road Unit A&B AND 16
General Information
- Standard status
- Active
- Size
- 4,320 SF
- Lot size
- 1.79 Acres
- Property subtype
- Commercial Sale / Multi Family
Building Details
- Year Built
- 1937
Listing agency
Just Be Home Realty
(919) 726-9924
Listed by
Tracy F Wright · License #173232
(919) 726-9924
Source
Compass
Added: Apr 11 Updated: Jul 22 at 10:06AM Checked: Jul 22 at 10:06AM
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
Investment Insights
Based on property information with market context.
Offered as-is, this apartment property was originally built in 1937 and consists of two separate structures: one with two units and a second with six units. While some portions of individual units have been updated over time, most units are in need of full renovation, making the property well suited for buyers looking to renovate or reimagine the existing layout.
Set on a generous 1.79-acre lot on Purefoy Road in Chapel Hill, the property is described as being minutes from UNC, downtown, and the dining and shops along Franklin Street. It also lists convenient access to transit, campus, and major corridors, with nearby retail and dining including Merritt’s Grill.
Set on a generous 1.79-acre lot on Purefoy Road in Chapel Hill, the property is described as being minutes from UNC, downtown, and the dining and shops along Franklin Street. It also lists convenient access to transit, campus, and major corridors, with nearby retail and dining including Merritt’s Grill.
Key Highlights
- As‑is multifamily on a 1.79‑acre lot in Chapel Hill
- Two structures: one with 2 units and a second with 6 units (8 total)
- Built in 1937 with block, brick veneer, and wood‑frame construction on a slab foundation
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $59.6k | $13.80 |
| − Vacancy | −$6.6k | −$1.53 |
| EGI | $53.0k | $12.27 |
| − OpEx | −$15.9k | −$3.68 |
| NOI | $37.1k | $8.59 |
4,320 SF · lease $13.80/SF/yr · vacancy 11.11% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$529.9K
$463.7K – $618.3K
NOI $37,095 @ 7.0% cap · market cap 3.23%
Second Best
Apartment 5plus
$467.6K
$409.1K – $545.5K
NOI $32,729 @ 7.0% cap · market cap 2.85%
Theoretical Best
Office A
$1.39M
$1.22M – $1.63M
NOI $97,648 @ 7.0% cap · market cap 8.49%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Apartment building - As-is multifamily with two structures totaling two and six units, built in 1937.
Where is this apartment building located?
The property is located at 210 Purefoy Road Unit A&B AND 16 Chapel Hill, NC.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: As‑is multifamily on a 1.79‑acre lot in Chapel Hill; Two structures: one with 2 units and a second with 6 units (8 total); Built in 1937 with block, brick veneer, and wood‑frame construction on a slab foundation
