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3116 Hillsborough St
Raleigh, NC 27607
3116 Hillsborough · Multifamily Property For Sale · 16 Units
PROPERTY FACTS
| No. Units | 16 | Lot Size | 0.61 AC |
| Property Type | Multifamily | Building Size | 15,201 SF |
| Property Subtype | Apartment | No. Stories | 3 |
| Apartment Style | Low Rise | Year Built | 1985 |
| Building Class | B | Parking Ratio | 2.83/1,000 SF |
| No. Units | 16 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | B |
| Lot Size | 0.61 AC |
| Building Size | 15,201 SF |
| No. Stories | 3 |
| Year Built | 1985 |
| Parking Ratio | 2.83/1,000 SF |
About 3116 Hillsborough St , Raleigh, NC 27607
We are pleased to present this one-of-a-kind, mixed use asset in the heart of the Hillsborough Street corridor adjacent to NC State. This property includes 16 apartments atop 4 retail bays with an abundance of on-site parking. Hillsborough Street (main artery to downtown Raleigh) is one of the most evolving strips in the Triangle in terms of development and reuse. This property is nestled between NC State’s campus which enrolls over 34,000 students and a group of high density, highly desirable neighborhoods. The university is projected to grow between 1.5% - 3% per year for the foreseeable future. Currently the asset is rented well below market rate on both the residential apart- ments and retail spaces. This is a tremendous value add proposition and with abundant future development potential.
PROPERTY TAXES
| Parcel Number | 0794.15-52-4716-000 | Improvements Assessment | $1,392,905 |
| Land Assessment | $4,821,558 | Total Assessment | $6,214,463 |
PROPERTY TAXES
zoning
| Zoning Code | NX-3-UG |
| NX-3-UG |
