WESTRIDGE WOODS
16 Units | 304 Buck Jones Road | Raleigh, NC 27606
Property Overview
- UNITS 16
- UNIT MIX | 2 BD/1 BA 12 Units / 900 SF / $1,442 AVG
- UNIT MIX | 2 BD/1 BA 2 Units / 900 SF / $1,432 AVG
- UNIT MIX | 3 BD/2 BA 2 Units / 1,000 SF / $1,700 AVG
- OCCUPANCY RATE 100%
- ADDRESS 304 Buck Jones Road, Raleigh, NC
- LEGAL DESCRIPTION LO7R PROP MILTON WILDER BM1995-995
- PIN 0783091366
- ZONING R-10
- YEAR BUILT 1959 (brick duplex)
- YEAR RENOVATED 1997 (addition and 3-story building)
- ACREAGE 1.6 Acres
- SQUARE FOOTAGE 14,600 SF
- TAXES $19,109.21
- TAX VALUE $2,163,409
- EXTERIOR Brick and Vinyl
- FOUNDATION Crawl (duplex), Slab (addition and 3-story building)
- APPLIANCES Range, refrigerator, dishwasher, washer & dryer connections
- UTILITIES Owner pays water/sewer, dumpster, area lights / Tenants pay electric
Deaton GREA, as the exclusive listing broker for the seller, is pleased to present these 16 units in Raleigh, N.C. The property offers a prime location near Downtown Raleigh, NC State University, Cary, the Research Triangle Park. The property sits directly on the bus route, within walking distance to Harris Teeter grocery-anchored shopping center, and offers easy access to surrounding attractions such as the Lenovo Center.
The property features a mix of fourteen, two-bedroom units and two, three-bedroom units. The rear building is three stories and was built in 1997. It features, twelve, identical, two-bedroom and one-bathroom floor plans. The front building is brick, one-story duplex, built in 1959 with an addition on the side built in 1997 that is two-stories. The original, brick duplex features two, identical two-bed and one-bathroom floor plans. The 1997 addition features two, identical, three-bedroom and two-bathroom units. The roofs were replaced in 2020. There is some polybutelene plumbing in the 1997 buildings.
The current owner self-manages the asset and has consistently kept occupancy above 90%. There are eight current tenants receiving rental assistance, but the property is not under any affordable restrictions. This property offers an excellent opportunity for an investor to acquire a stabilized asset in the heart of Raleigh's thriving market.
Our Team
Deaton is proud to do business with a handshake as easily as we do over the Internet, because the goal is always the same: earn, keep and respect the customer’s business.
Located in the Triangle region of North Carolina, encompassing Raleigh, Durham, and Chapel Hill, Deaton Investment Real Estate, Inc. specializes in brokering income-producing properties. Throughout all of North Carolina, we maximize opportunities for buyers and sellers of apartments. We work with individual investors to private capital, family offices, and institutional firms. Deaton’s transaction sales volume exceeds $3.7 billion in multifamily sales.
The company was founded in 1981 by Steve Deaton, who still operates it today. In December of 2023, Deaton joined Global Real Estate Advisors (GREA), a leading player in the multifamily brokerage, lending, and investment advisory sector. This strategic partnership allows Deaton to maintain it’s presence as an independently owned and operated, boutique brokerage firm, with access to a national platform of advisory resources, tools, and clients.
