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    1733 Morehead Ave Durham, NC 27707

    Sponsored
    For Sale
    $750,000

    High-Occupancy Multifamily, Value-Add Potential

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional investment opportunity presents a well-maintained, four-unit apartment building located at 1733 Morehead Ave, Durham, NC 27707. Built in 1960, this two-story Class B property boasts 100% occupancy, generating a strong net operating income (NOI) of $23,896, translating to a 3.19% capitalization rate. The asking price is $750,000, representing a price per unit of $187,500. The property is classified as a stabilized, owner-user investment, offering immediate cash flow and potential for future appreciation. Situated in Durham County, this property benefits from a desirable location within the city of Durham. The building consists of one structure with four units, providing a manageable and efficient investment portfolio. This is a rare opportunity to acquire a fully occupied multifamily property in a thriving North Carolina market, presenting a compelling value-add proposition for discerning investors seeking strong returns and stable income. The property's current high occupancy rate and solid NOI make it an attractive investment, with potential for further value enhancement through strategic improvements and management. The property's location in Durham, NC offers access to a growing population and robust rental market.

    Property Features for 1733 Morehead Ave

    General Information

    Property type
    Multifamily properties
    Class
    B

    Building Details

    Year Built
    1960
    Buildings
    1
    Stories
    2
    Units
    4

    HighLights

    • $750,000 asking price for a stabilized multifamily investment property.
    • Four‑unit apartment building in Durham, NC.
    • 100% occupancy with a Net Operating Income (NOI) of $23,896.
    • $187,500 per unit price.
    • Class B property built in 1960, featuring one two‑story building.
    • 3.19% cap rate.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Gym & Fitness Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Durham
    County
    Durham
    State
    North Carolina
    Longitude
    -78.9237033
    Latitude
    35.9919479

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    FAQs

    What type of property is this?
    Multifamily property - High-Occupancy Multifamily, Value-Add Potential
    Where is this multifamily property located?
    The property is located at 1733 Morehead Ave Durham, NC.
    What is the asking price?
    The asking price for this property is $750,000.
    What are key features of this property?
    This property features: $750,000 asking price for a stabilized multifamily investment property.; Four-unit apartment building in Durham, NC.; 100% occupancy with a Net Operating Income (NOI) of $23,896.
    Request Owner's contact information
    1733 Morehead Ave Durham, NC 27707
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    Durham, NC 27707
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1733 Morehead Ave Durham, NC 27707
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