2821 Club Plaza Rd, Raleigh, NC 27603

Property Description

Everest Commercial Group is pleased to present 2821 Club Plaza Road, a 7-unit multifamily community located in South Raleigh, one of Raleigh's most active and rapidly evolving submarkets. The property is situated within an Opportunity Zone, and is fully stabilized at 100% occupancy. The community features a consistent unit mix of two-bedroom / one-bath residences averaging approximately 820 square feet, each equipped with washer and dryer hookups. Current in-place rents average approximately $1,317 per unit, providing immediate income with the opportunity for continued rental growth. Costar estimated average market rents for 2 beds in South Raleigh at $1500. The asset offers a simple operational profile and benefits from steady tenant demand in the surrounding area. This asset has been well cared for by ownership, including extensive capex work done to the property. Vinyl windows, doors, asphalt seal coat, cabinet and countertop refinishing, appliances, water heaters and more have been done under their ownership. The property sits on approximately 0.7 acres with ample parking, and provides convenient access to major employment centers and transportation corridors. A GoRaleigh public transit stop is located roughly 0.2 miles away, while Downtown Raleigh is approximately four miles, Dix Park 2.4 miles, Downtown Garner five miles, and Interstate 40 just over one mile from the site.