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414 & 415 East Pilot Street, (Eagle Point Apartments) Durham, NC 414 East Pilot Street, Durham, NC 27707

Office • Sold
Best Use
Residential
  • 195,378 sf
  • 11.09 acres
City
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Durham
County
Photo of Durham
Durham
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Property Details

Listing Details

  • List Price
    $16,510,000
  • Analysis

    Sale Price $16,510,000 ÷ 195,378 SF GBA = $84.50 per SF of GBA
    Sale Price $16,510,000 ÷ 223 Units = $74,035.87 per Unit
    Sale Price $16,510,000 ÷ 21 Buildings = $786,190.48 per Building

  • Address
    414 East Pilot Street, Durham, NC 27707
  • City
    Durham
  • County
    Durham
  • Parcel #
    107303 & 107200
  • Listing Agent(s)
  • Status
    Closed
  • Closed Date
    11/22/2019
  • Data Source
    Pickett Sprouse Commercial Real Estate
  • Listing ID
    85105

Legacy Details

  • Analysis

    Sale Price $16,510,000 ÷ 195,378 SF GBA = $84.50 per SF of GBA
    Sale Price $16,510,000 ÷ 223 Units = $74,035.87 per Unit
    Sale Price $16,510,000 ÷ 21 Buildings = $786,190.48 per Building

  • Grantee/Tenant
    RH Apartments, LLC
  • Grantor/Landlord
    412 Pilot, LLC
  • # of Multifamily Units
    223
  • Use at Time of Sale
    Garden Apartments
  • Utilities
    City

Notes

Sound Management has purchased Eagle Point Apartments, a 223-unit complex in Durham, North Carolina, for $16.65 million, or about $74,000 per unit. The management firm bought the complex from New York-based JEM Holdings LLC, which originally acquired the property as part of a two-property deal in 2017. Eagle Point Apartments was built in 1966 and offers a mix of one- and two-bedroom floor-plans.

Information deemed reliable but not guaranteed to be accurate. © Pickett Sprouse Commercial Real Estate. All rights reserved.