The Conversion at Durham-Chapel Hill Blvd

The Conversion at Durham-Chapel Hill Blvd

Durham, NC
Under Contract
  • Property Type: Apartments
  • Year Built : 1998
  • Property Size: 48,600 SF / 96 Units

Overview

Capstone Companies is pleased to present The Conversion at Durham-Chapel Hill Blvd, a 96-unit, 1998 vintage multi-family conversion opportunity ideally located in Durham, North Carolina. Currently operated as a nationally branded extended stay hotel, the property presents an exceedingly rare opportunity to reposition the existing asset into market-rate apartment units. The lower renovation costs, coupled with the exceptional build quality and desirable interior floorplans, will allow new ownership to acquire an asset poised for explosive rent growth without significant capital invested. The property features a full amenity set and would require minimal investment to bring the properties amenities to multi-family standards. Additionally, The Conversion at Durham-Chapel Hill Blvd is located in a premier location directly off I-40 in South Durham, offering residents immediate access to numerous class A retail options and job opportunity in both Durham and Raleigh. The incredible accessibility and visibility of the property, in addition to the strength of the surrounding multi-family fundamentals, make The Conversion at Durham-Chapel Hill Blvd an investment opportunity that appeals to the most innovative and yield searching multi-family investors.

Investment Highlights

In-Place Zoning Allows for Easy Multi-Family Conversion

Conversion to Multi-Family with Limited Capital Invested

Ample Space for Additional Amenities

Influx of High-Paying Technology Jobs to the MSA

Premier Location in South Durham

Contact Information

Ron Corrao Director P: 757.749.6994
O: 800.746.3175 ext. 712
ron@capstone-companies.com
Eric Liebich Senior Advisor P: 248.225.3706
O: 800.746.3175 ext. 730
eric@capstone-companies.com
Travis Cundiff Investment Sales Advisor P: 919.601.3119
O: 800.746.3175 ext. 792
tcundiff@capstone-companies.com
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