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Sharae Harris-Simmons

sharae@waltersteam.com +1(252) 663-2963

Listed by Compass -- Raleigh

$ 2,495,000

Est. payment | -/mo

10 Beds

11 Baths

5,126 SqFt

Save

$ 2,495,000

Est. payment | -/mo

Save

10 Beds

11 Baths

5,126 SqFt

Key Details

Property Type Multi-Family

Sub Type Duplex

Listing Status Active

Purchase Type For Sale

Square Footage 5,126 sqft

Price per Sqft $486

Subdivision West Raleigh

MLS Listing ID 10202650

Bedrooms 10

Full Baths 10

Half Baths 1

HOA Y/N No

Year Built 2024

Annual Tax Amount $11,783

Lot Size 10,019 Sqft

Acres 0.23

Property Sub-Type Duplex

Source Doorify MLS

Land Area 5126

Property Description

Garden Place is more than a rental property; it is a high-performance financial instrument. By combining a 2.17 DSCR with an irreplaceable NCSU location and guaranteed income through mid-2027, this asset provides the transparency and security that the 2026 market demands.

In a volatile interest rate environment, Garden Place offers a safe harbor for investors seeking capital preservation without sacrificing yield. As a developer-built asset, every aspect of this portfolio has been engineered to maximize Debt Service Coverage and minimize operational risk.

Steps from the NC State University Belltower, this property sits in the most supply-constrained student housing pocket in Raleigh. Its "walkable" status to the campus core ensures a permanent waitlist and zero-vacancy historic performance.

The portfolio is currently 100% leased through June 2027, providing the new owner with nearly 16 months of guaranteed, uninterrupted revenue. The property is professionally managed at a 24.3% expense ratio, significantly outperforming market averages.

Location

State NC

County Wake

Community West Raleigh

Area 0.23

Zoning RX-3

Interior

Interior Features Ceiling Fan(s), High Ceilings, Kitchen Island, Open Floorplan, Pantry, Quartz Counters, Recessed Lighting, Walk-In Closet(s)

Cooling Central Air

Flooring Luxury Vinyl

Fireplace No

Appliance Dryer, Range, Washer, Freezer, Disposal, Microwave, Dishwasher, Washer/Dryer

Laundry In Unit, Laundry Room

Exterior

Parking Features Driveway, Off Street

Garage Spaces 10.0

Roof Type Shingle

Total Parking Spaces 10

Garage No

Building

Story Two

Foundation Slab

Water Public

New Construction Yes

Others

Tax ID 079420924015000 0035568

Acceptable Financing Cash, Conventional, 1031 Exchange

Listing Terms Cash, Conventional, 1031 Exchange

NEARBY SCHOOLS & PROPERTIES

+1(252) 663-2963

sharae@waltersteam.com

526 E Nash St, Spring Hope, NC 27882, USA

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2209 Garden PL Raleigh, NC 27607