Renovated Six-Unit Multifamily
For Sale
$1,295,000
543549 543-549 Cedar Lake Rd, Chapel Hill, NC 27516
Three brick duplexes provide separately metered residences with private outdoor areas and in-unit laundry equipment.
Property Size5,301 SF
Lot Size3.00 Acres
Price / SF$244.29
Days on Market62
Property Features for 543549 543-549 Cedar Lake Rd
General Information
Standard status
Active
Size
5,301 SF
Lot size
3.00 Acres
Property subtype
Multi-Family
Site & Location
Road Access
Yes
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
6 x 2BR/1BA
Multifamily Units
6
Building Details
Year Built
1978
Year Renovated
2019
Buildings
3
Stories
1
Construction
brick
Listing Agency:
Long & Foster Real Estate INC
Listed By:
Chad Lloyd · License #243094
(919) 606-8511
Source:
Tcrnc
Added: Aug 14
Changed: Oct 3
Last Checked: Oct 7 at 5:14PM
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 Long & Foster Real Estate INC
Investment Insights
Based on property information with market context.
This multifamily property includes three single-level brick duplex buildings on approximately 3 acres, with six residential units totaling 5,301 heated square feet. Each residence has two bedrooms, one full bathroom, a living room, eat-in kitchen, storage closets, laundry closet, covered front porch, rear patio, and attached exterior storage or mechanical space. Washers and dryers convey with all six units on an as-is basis. Five units are leased, while one is vacant for showings and immediate leasing.
Renovations completed during 2018-2019 included architectural shingle roofs and gutters, interior and exterior painting, flooring, appliances, fixtures, countertops, and other improvements. There is no carpet; living areas and bedrooms feature Luxury Vinyl Plank or wood laminate flooring. Each unit has separately metered electricity through Duke Energy. The property uses a private well and septic systems, with Cedar Lake Road privately maintained.
The property has a Chapel Hill mailing address in northern Chatham County, approximately 4.5 miles from UNC-Chapel Hill and downtown Chapel Hill, less than one mile from shopping and UNC park-and-ride facilities, approximately 3 miles from Briar Chapel, and approximately 11 miles from downtown Pittsboro.
Renovations completed during 2018-2019 included architectural shingle roofs and gutters, interior and exterior painting, flooring, appliances, fixtures, countertops, and other improvements. There is no carpet; living areas and bedrooms feature Luxury Vinyl Plank or wood laminate flooring. Each unit has separately metered electricity through Duke Energy. The property uses a private well and septic systems, with Cedar Lake Road privately maintained.
The property has a Chapel Hill mailing address in northern Chatham County, approximately 4.5 miles from UNC-Chapel Hill and downtown Chapel Hill, less than one mile from shopping and UNC park-and-ride facilities, approximately 3 miles from Briar Chapel, and approximately 11 miles from downtown Pittsboro.
Key Highlights
- Six residential units across three single‑story brick duplexes
- Approximately 3 acres with 5,301 heated square feet
- Five units leased; one unit vacant for showings and leasing
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$45,518
Cap Rate
3.51%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$910,360
$910.4K
Cap Rate 7%
$650,257
$650.3K
Cap Rate 9%
$505,756
$505.8K
Market Conditions
NOI Build-Up for 5,301 SF
Gross rent
$73.2K $13.80/SF
− Vacancy
−$8.1K −$1.53/SF
EGI
$65.0K $12.27/SF
− OpEx
−$19.5K −$3.68/SF
NOI
$45.5K $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%
$910,360
Cap Rate 7%
$650,257
Cap Rate 9%
$505,756
Alternative Uses
Best Use
Multifamily LT 5
$650.3K
$569.0K – $758.6K
NOI $45,518 @ 7.0% cap · market cap 3.51%
Second Best
Apartment 5plus
$573.7K
$502.0K – $669.4K
NOI $40,161 @ 7.0% cap · market cap 3.10%
Theoretical Best
Office A
$1.71M
$1.50M – $2.00M
NOI $119,823 @ 7.0% cap · market cap 9.25%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
6
Residential units
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
146
Businesses Nearby
Explore this area
Business Placement
Demographics for 27516, NC
45,841
Population
18,684
Households
2.5
Avg Household Size
35
Median Age
72%
College-Educated
96%
High-School Grad
93.5 sq mi
ZIP Area
490
Density / Sq Mi
$100,788
Median Household Income
$48,638
Median Earnings
$1,446
Median Rent
$508,400
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Multifamily property - Three brick duplexes provide separately metered residences with private outdoor areas and in-unit laundry equipment.
Where is this multifamily property located?
The property is located at 543549 543-549 Cedar Lake Rd Chapel Hill, NC.
What is the asking price?
The asking price for this property is $1,295,000.
What are key features of this property?
This property features: Six residential units across three single‑story brick duplexes; Approximately 3 acres with 5,301 heated square feet; Five units leased; one unit vacant for showings and leasing
