Two-Duplex Multifamily
For Sale
$1,850,000
8809 & 8813 Litchford Road, Raleigh, NC 27615
Newly built rental community with individually leased bedroom suites, private bathrooms, keyed access, and full occupancy.
Property Size7,202 SF
Days on Market61
Property Features for 8809 & 8813 Litchford Road
General Information
Standard status
Active
Size
7,202 SF
Property subtype
Multifamily
Occupancy
100%
Units
Unit Mix
4 x 4BR
Multifamily Units
4
Building Details
Building Size
7,202 SF
Year Built
2023
Buildings
2
Listed By:
Stacy Milburn, CCIM
(919) 637-6697
Source:
Svn
Added: Aug 8
Changed: Sep 23
Last Checked: Oct 5 at 4:39PM
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 Stacy Milburn, CCIM
Investment Insights
Based on property information with market context.
This multifamily property includes two duplex buildings completed in 2023. Each duplex contains two residential rental units, with four bedrooms per unit. The bedroom suites are leased individually and include private full bathrooms, secure keyed entry, and single-occupancy design. The buildings measure approximately 3,648 SF at 8809 Litchford Road and 3,554 SF at 8813 Litchford Road.
The property is fully occupied and comprises 16 individually leased bedroom suites across four residential units. Located in North Raleigh, the asset combines recently constructed improvements with a defined co-living configuration and separate duplex addresses.
The property is fully occupied and comprises 16 individually leased bedroom suites across four residential units. Located in North Raleigh, the asset combines recently constructed improvements with a defined co-living configuration and separate duplex addresses.
Key Highlights
- Two duplexes completed in 2023
- Four residential rental units with 16 individually leased bedroom suites
- Each suite includes a private full bathroom and secure keyed entry
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$77,424
Cap Rate
4.19%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,548,480
$1.5M
Cap Rate 7%
$1,106,057
$1.1M
Cap Rate 9%
$860,267
$860.3K
Market Conditions
NOI Build-Up for 7,202 SF
Gross rent
$116.7K $16.20/SF
− Vacancy
−$6.1K −$0.84/SF
EGI
$110.6K $15.36/SF
− OpEx
−$33.2K −$4.61/SF
NOI
$77.4K $10.75/SF
Area
ZIP 27615
Vacancy
5.20%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,548,480
Cap Rate 7%
$1,106,057
Cap Rate 9%
$860,267
Alternative Uses
Best Use
Multifamily LT 5
$1.11M
$967.8K – $1.29M
NOI $77,424 @ 7.0% cap · market cap 4.19%
Second Best
Apartment 5plus
$978.7K
$856.4K – $1.14M
NOI $68,508 @ 7.0% cap · market cap 3.70%
Theoretical Best
Office A
$1.95M
$1.70M – $2.27M
NOI $136,363 @ 7.0% cap · market cap 7.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
849
Businesses Nearby
Explore this area
Business Placement
Demographics for 27615, NC
43,010
Population
20,681
Households
2.1
Avg Household Size
43
Median Age
64%
College-Educated
97%
High-School Grad
18.9 sq mi
ZIP Area
2,276
Density / Sq Mi
$107,051
Median Household Income
$60,661
Median Earnings
$1,533
Median Rent
$441,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Newly built rental community with individually leased bedroom suites, private bathrooms, keyed access, and full occupancy.
Where is this duplex located?
The property is located at 8809 & 8813 Litchford Road Raleigh, NC.
What is the asking price?
The asking price for this property is $1,850,000.
What are key features of this property?
This property features: Two duplexes completed in 2023; Four residential rental units with 16 individually leased bedroom suites; Each suite includes a private full bathroom and secure keyed entry
