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Property profile & analytics
OFF-MARKET
High-rise multifamily apartments
2616 Erwin Rd, Durham, NC 27705-3843
Entity Owned
2-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US53-0041023
Property profile
Verified
Property type
High-rise multifamily apartments
Use group
HIGH-RISE APARTMENTS
Year built
2005
Total area
441,868 SF
Lot
6.11 ac (266,152 SF)
Zoning code
MU(D)
APN
196351
UPID
US53-0041023
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Dr. Tzu-Hao Lee, MD Physician
-
Sentinel Real Estate Corporation Real Estate Agency Property Management Company
-
Lofts at Lakeview Apartments Apartment Building Apartment Complex
-
Event Parking Group & ProValet Parking Parking Lot & Garage
-
Salsa Timoteo Department Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Lakeview Xiv LLC · 2 yrs held
Lakeview Xiv LLC
since 2024
Last sale
$330,000
7 recorded transactions
Zoning & alternative use
MU(D) · Durham, NC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Durham submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Durham submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$860,432
Tax year 2024
Assessed value
$61,684,123
Assessed 2024
Previous assessed
$61,684,123
+0.0% YoY
Effective rate
1.39%
On assessed value
Assessed land
$5,280,000
Assessed improvement
$56,404,123
Land market value
$5,280,000
Improvement market value
$56,404,123
Total market value
$61,684,123
Applied tax rate
1.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
High-rise multifamily apartments
Use group
HIGH-RISE APARTMENTS
Status
Off-Market
Year built
2005
Heating
YES
Cooling
YES
Stories
4
Total area
441,868 SF
Lot
6.11 ac (266,152 SF)
Zoning code
MU(D)
APN
196351
UPID
US53-0041023
Jurisdiction
DURHAM
Zoning & alternative use
MU(D) · Durham, NC
Zoning MU(D) · permitted uses
MU(D) · Durham, NC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Durham. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
2005
Heating
YES
Cooling
Yes
Stories
4
Lot
6.11 ac
Current owner
From public records · entity-resolved
Lakeview Xiv LLC
Entity
Mailing address
10510 SPRINGBORO PIKE, MIAMISBURG, OH 45342-4956
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 12, 2024
$83,000,000
Lakeview Xiv LLC
Lofts At Lakeview LLC
Special Warranty Deed
related
$64,625,000 · Umb Bank NA
Mar 19, 2008
$330,000
Amir Rezvani
Pavilion East Lofts LLC
Grant Deed
—
Feb 7, 2008
$278,000
William R Cook
Pavilion East Lofts LLC
Warranty Deed
$200,000 · Wachovia Mortgage Corp
Jan 14, 2008
$233,000
Four Play Investments LLC
Pavilion East Lofts LLC
Grant Deed
—
Jan 4, 2008
$254,000
Andrew Valkanoff
Pavilion East Lofts LLC
Grant Deed
—
Dec 20, 2007
$262,000
James H Doughton
Pavilion East Lofts LLC
Special Warranty Deed
—
Dec 18, 2007
$232,000
Zogreo LLC
Pavilion East Lofts LLC
Grant Deed
—
Dec 17, 2007
$262,000
Rgcm LLC
Pavilion East Lofts LLC
Grant Deed
$170,080 · Wachovia Mortgage Co
Nov 30, 2006
$63,500,000
Lofts Sref At Lakeview INC
Lofts,at Lakeview LP
Grant Deed
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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