NC State Student Housing Portfolio
Property Overview
Summary
- KELFORD TOWNHOMES
- SINGLE-FAMILY HOMES
- YEAR BUILT 2023
- YEAR BUILT 2018-2022
- UNITS 14
- UNITS 10
- BEDS 56
- BEDS 45
- OCCUPANCY 100%
- OCCUPANCY 100%
- TOTAL SF 31,500 SF
- TOTAL SF 22,465 SF
- ACRES 1.42 AC
- ACRES 1.19 AC
- PARKING Surface lot with more than one space per bedroom
- PARKING One space per bedroom
- FOUNDATION Slab
- FOUNDATION Crawl
- ROOF Shingles
- ROOF Shingles
- EXTERIOR MATERIALS Hardboard, Brick
- EXTERIOR MATERIALS Hardboard, Brick
- FLOORS Hardboard, LVP, Tile
- FLOORS Hardwood, Tile
- PATIOS/PORCHES Patios on the back of each u;nit
- PATIOS/PORCHES Porches on the front, patios on the back of each unit
- APPLIANCES Gas range, Refrigerator, Dishwasher, Microwave, Washer and Dryer
- APPLIANCES Gas Range, Refrigerator, Dishwasher, Microwave, Washer and Dryer
- PLUMBING PVC
- PLUMBING PVC
- HVAC Multi-zone mini-split systems
- HVAC Central heat and air conditioning
- WIRING Copper
- WIRING Copper
- UTILITIES Owner pays water and trash
- UTILITIES Paid by Tenant
Deaton GREA is pleased to present, as the exclusive listing broker for the seller, a luxury, student-housing portfolio in the heart of Raleigh at NC State University. The 24-unit, 101-bedroom portfolio is comprised of ten, single-family homes and 14, townhomes located less than one mile from campus. The 11 parcels are contiguous, and represent a rare opportunity to acquire a boutique, student asset built with luxury finishes, at a power-five university. The property is 100% leased for the 2024-25 school year. The leases are by-the-unit, with an average, in-place rent equal to $993 per bed.
The ten, single families homes were built between 2018 and 2022 and feature a 50/50 mix of 4- and 5-bedroom floor plans. The 14 townhomes are located directly behind the single-family houses. The townhomes all feature 4-bed and 4-bath, three-story floor plans and were completed in 2023. Current ownership developed and built these properties with meticulous care and attention to detail. All of the units feature high-level finishes including hardwood floors, LVP flooring, tile bathroom floors and showers, granite counters, stainless steel appliances, ceiling fans in all rooms, recessed lighting, tankless water heaters, energy efficient windows, and more. Every property has a minimum of one parking spot for every bedroom.
Located west of downtown Raleigh, NC State University is a power-five university with more than 38,000 students and 10,000 employees. Today, 137 years after its founding, NC State is North Carolina’s largest university and continues to grow. Fueled by its status as a prestigious Research 1 institution, NC State is recognized nationwide for groundbreaking discoveries, an outstanding academic reputation, and elite athletic programs.
Key Facts
Our Team
Deaton is proud to do business with a handshake as easily as we do over the Internet, because the goal is always the same: earn, keep and respect the customer’s business.
Since 1981, Deaton Investment Real Estate has handled approximately 2,500 transactions, accounting for more than 1.8 billion dollars in multi-family sales. Located in the Triangle region of North Carolina, encompassing Raleigh, Durham, and Chapel Hill, we specialize in brokering income-producing multi-family investment properties. Throughout Central and Eastern N.C., we maximize opportunities for buyers and sellers of rental investment property, from large apartment complexes to duplexes, triplexes and quads.
The company was founded in 1981 by Steve Deaton, who still operates it today. We work with individual, family-oriented buyers and sophisticated, institutional investors.
