Crabtree Valley Multifamily Conversion | 4810 Bluestone Dr
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Crabtree Valley Multifamily Conversion 4810 Bluestone Dr
139 Room Hotel Raleigh, NC 27612 $15,639,168 CAD ($112,512 CAD/Room)
Investment Highlights
- Prime Location: Situated in the heart of Crabtree Valley, the property benefits from high demand for residential housing in one of Raleigh’s most desi
- Located directly off Glenwood Ave, one of the busiest roadways in the Raleigh Triangle area.
- Strong Market Dynamics: Raleigh’s robust job market, population growth, and high quality of life drive consistent demand for multifamily housing, ensu
Executive Summary
Marcus & Millichap is pleased to present Crabtree Valley Multifamily Conversion located in Raleigh, North Carolina. The property encompasses 139 units across 4.9 acres, situated in the highly desirable Crabtree Valley area. The subject property includes four-unit types with a range of 260 SF to 600 SF. The projected average rent is $947 across all units.
Raleigh, North Carolina, is part of the Research Triangle Park, known for its strong economy, high quality of life, and rapid population growth. The multifamily market in Raleigh has been dynamic, driven by factors such as job growth, migration patterns, and lifestyle preferences.
Raleigh continues to attract new residents due to its robust job market, educational institutions, and favorable living conditions. The city’s population growth rate has been among the highest in the nation, contributing to increased demand for multifamily housing. Raleigh is home to several high-tech companies and research institutions, creating a stable job market. The city’s employment opportunities in technology, healthcare, education, and finance attract a diverse workforce.
Rent growth in Raleigh has been steady, reflecting strong demand. Raleigh’s multifamily market has seen considerable interest from investors, both local and national. The market’s stability, combined with favorable economic indicators, makes it an attractive option for long-term investments.
Raleigh, North Carolina, is part of the Research Triangle Park, known for its strong economy, high quality of life, and rapid population growth. The multifamily market in Raleigh has been dynamic, driven by factors such as job growth, migration patterns, and lifestyle preferences.
Raleigh continues to attract new residents due to its robust job market, educational institutions, and favorable living conditions. The city’s population growth rate has been among the highest in the nation, contributing to increased demand for multifamily housing. Raleigh is home to several high-tech companies and research institutions, creating a stable job market. The city’s employment opportunities in technology, healthcare, education, and finance attract a diverse workforce.
Rent growth in Raleigh has been steady, reflecting strong demand. Raleigh’s multifamily market has seen considerable interest from investors, both local and national. The market’s stability, combined with favorable economic indicators, makes it an attractive option for long-term investments.
Data Room Click Here to Access
- Offering Memorandum
Property Facts
| Price | $15,639,168 CAD | Building Size | 58,793 SF |
| Price Per Room | $112,512 CAD | No. Rooms | 139 |
| Sale Type | Investment | No. Stories | 2 |
| Property Type | Hospitality | Year Built/Renovated | 1997/2015 |
| Property Subtype | Hotel | Tenancy | Single |
| Building Class | C | Parking Ratio | 2.68/1,000 SF |
| Lot Size | 4.90 AC | Corridor | Exterior |
| Price | $15,639,168 CAD |
| Price Per Room | $112,512 CAD |
| Sale Type | Investment |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | C |
| Lot Size | 4.90 AC |
| Building Size | 58,793 SF |
| No. Rooms | 139 |
| No. Stories | 2 |
| Year Built/Renovated | 1997/2015 |
| Tenancy | Single |
| Parking Ratio | 2.68/1,000 SF |
| Corridor | Exterior |
Amenities
- High Speed Internet Access
- Public Access Wifi
- Smoke-Free
- Fully-Equipped Kitchen
Room Mix Information
| Description | No. Rooms | Daily Rate | SF |
|---|---|---|---|
| Suite | 139 | $129.39 CAD | - |
PROPERTY TAXES
| Parcel Number | 0796.13-03-7937-000 | Improvements Assessment | $5,965,727 CAD |
| Land Assessment | $3,965,093 CAD | Total Assessment | $9,930,820 CAD |
PROPERTY TAXES
Parcel Number
0796.13-03-7937-000
Land Assessment
$3,965,093 CAD
Improvements Assessment
$5,965,727 CAD
Total Assessment
$9,930,820 CAD
zoning
| Zoning Code | CX-3 |
| CX-3 |
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William Graves -
Matthew Rice -
Ryan Lipomi -
Nate McDaniel -
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