Stabilized Multifamily Community in
2821 Club Plaza Raleigh, NC 27603
2821 Club Plaza, Raleigh, NC, 27603
$1,200,000
Pending
For Sale
$1,200,000
Pending
7-unit multifamily property in South Raleigh, 100% occupied.
Property Size5,742 SF
Lot Size0.70 Acres
Days on Market179
Property Features for 2821 Club Plaza
General Information
- Standard status
- Pending
- Size
- 5,742 SF
- Lot size
- 0.70 Acres
- Property subtype
- Commercial
Building Details
- Year Built
- 1984
Listing agency
EVEREST VENTURES LLC
(919) 279-3803
Listed by
OWEN DRUGAN
Source
Corcoran
Added: Jan 24 Updated: Jul 6 at 10:01AM Checked: Jul 21 at 5:34AM
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 EVEREST VENTURES LLC
Investment Insights
Based on property information with market context.
Located in South Raleigh, this 7-unit multifamily community at 2821 Club Plaza Road is fully stabilized with 100% occupancy. Situated within an Opportunity Zone, the property features a consistent unit mix of two-bedroom, one-bath residences, each averaging approximately 820 square feet and equipped with washer and dryer hookups. Current in-place rents average approximately $1,317 per unit. The property sits on approximately 0.7 acres with ample parking. The asset has been well cared for by ownership, including extensive capex work. Vinyl windows, doors, asphalt seal coat, cabinet and countertop refinishing, appliances, and water heaters have been updated under current ownership. A GoRaleigh public transit stop is located roughly 0.2 miles away, while Downtown Raleigh is approximately four miles, Dix Park 2.4 miles, Downtown Garner five miles, and Interstate 40 just over one mile from the site. The property provides convenient access to major employment centers and transportation corridors.
Key Highlights
- Fully stabilized 7‑unit multifamily community with 100% occupancy, providing immediate income.
- Located in a rapidly evolving South Raleigh submarket with strong tenant demand.
- Opportunity Zone location, potentially offering tax benefits.
Local Financial Insights For Apartment 5plus
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 | $103.4k | $18.00 |
| − Vacancy | −$6.0k | −$1.04 |
| EGI | $97.4k | $16.96 |
| − OpEx | −$43.8k | −$7.63 |
| NOI | $53.5k | $9.33 |
5,742 SF · lease $18.00/SF/yr · vacancy 5.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$765.0K
$669.4K – $892.5K
NOI $53,549 @ 7.0% cap · market cap 4.46%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.82M
$1.59M – $2.12M
NOI $127,139 @ 7.0% cap · market cap 10.59%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - 7-unit multifamily property in South Raleigh, 100% occupied.
Where is this apartment building located?
The property is located at 2821 Club Plaza Raleigh, NC.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Fully stabilized 7‑unit multifamily community with 100% occupancy, providing immediate income.; Located in a rapidly evolving South Raleigh submarket with strong tenant demand.; Opportunity Zone location, potentially offering tax benefits.
