Multifamily

Willow Terrace Apartments

901 S Duke St, Durham, NC 27707

Listing Price: Request For Offer

Number of Units
16
Gross SF
12,650

Investment Overview

Marcus & Millichap is pleased to exclusively present the opportunity to acquire Willow Terrace Apartments in Durham, North Carolina. Originally constructed in 1981 and located within walking distance of downtown, Willow Terrace provides residents with modern interiors combined with the vintage appeal of the surrounding Morehead Hills neighborhood. The property has received both interior and exterior upgrades throughout its history which provides new ownership a unique value-add opportunity through light interior upgrades and the installation of additional community amenities. With a lack of comparable inventory in the immediate submarket and minimal renovation, the property can easily be positioned as the economic alternative to the new Class A multifamily assets in the Downtown Durham submarket. Continued rent growth within the submarket, an extremely vibrant downtown, and the property’s strong positioning within the immediate area, provide an investor with outstanding options for the asset moving forward. This rent growth opportunity coupled with a strategic value-add initiative and the overall appeal of the Durham market further add to the attractiveness of this long-term multifamily investment.

Investment Highlights

  • Premier, Near-Urban Location that is Highly Accessible to Major Employers, Retailers, Restaurants, Entertainment and Recreational Offerings.
  • Value-Add Opportunity through Light Interior Renovations and the installation of additional community amenities.
  • Solid Market Fundamentals Combined with Strong Demographics in a Vibrant and Rapidly Appreciating Area.

Exclusively Listed By

Multifamily

Willow Terrace Apartments

Listing Price: Request For Offer

Number of Units
16
Gross SF
12,650

Investment Highlights

  • Premier, Near-Urban Location that is Highly Accessible to Major Employers, Retailers, Restaurants, Entertainment and Recreational Offerings.
  • Value-Add Opportunity through Light Interior Renovations and the installation of additional community amenities.
  • Solid Market Fundamentals Combined with Strong Demographics in a Vibrant and Rapidly Appreciating Area.

Investment Overview

Marcus & Millichap is pleased to exclusively present the opportunity to acquire Willow Terrace Apartments in Durham, North Carolina. Originally constructed in 1981 and located within walking distance of downtown, Willow Terrace provides residents with modern interiors combined with the vintage appeal of the surrounding Morehead Hills neighborhood. The property has received both interior and exterior upgrades throughout its history which provides new ownership a unique value-add opportunity through light interior upgrades and the installation of additional community amenities. With a lack of comparable inventory in the immediate submarket and minimal renovation, the property can easily be positioned as the economic alternative to the new Class A multifamily assets in the Downtown Durham submarket. Continued rent growth within the submarket, an extremely vibrant downtown, and the property’s strong positioning within the immediate area, provide an investor with outstanding options for the asset moving forward. This rent growth opportunity coupled with a strategic value-add initiative and the overall appeal of the Durham market further add to the attractiveness of this long-term multifamily investment.

Exclusively Listed By

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