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White Oak Apartments 1600 Poole Rd 8 Unit Apartment Building $1,576,409 CAD ($197,051 CAD/Unit) Raleigh, NC 27610
Investment Highlights
- Less than one mile from Downtown Raleigh
- Roof replaced
- 6 of 8 HVAC units replaced in past 5 years
- 5 of 8 units updated with LVP flooring throughout
Executive Summary
The property consists of eight well-designed 2-bedroom, 1-bath units averaging approximately ±720 square feet, each featuring open floor plans and washer/dryer hookups. The community is currently 100% occupied, demonstrating strong tenant demand in this highly desirable urban location.
Over the past five years, ownership has completed several key capital improvements including a new roof, replacement of six HVAC systems, and interior upgrades in five units with new LVP flooring, granite counter tops, and new bathrooms, reducing near-term capital requirements for a new owner.
With an average in-place rent of approximately $1,021, well below Raleigh’s two-bedroom fair market rent of $1,646, the property offers a clear path for revenue growth through continued unit upgrades and market rent alignment.
Over the past five years, ownership has completed several key capital improvements including a new roof, replacement of six HVAC systems, and interior upgrades in five units with new LVP flooring, granite counter tops, and new bathrooms, reducing near-term capital requirements for a new owner.
With an average in-place rent of approximately $1,021, well below Raleigh’s two-bedroom fair market rent of $1,646, the property offers a clear path for revenue growth through continued unit upgrades and market rent alignment.
Property Facts
| Price | $1,576,409 CAD | Building Class | C |
| Price Per Unit | $197,051 CAD | Lot Size | 0.45 AC |
| Sale Type | Investment | Building Size | 7,738 SF |
| No. Units | 8 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built/Renovated | 1984/2025 |
| Apartment Style | Low-Rise | Parking Ratio | 1/1,000 SF |
| Zoning | RX3 & TOD - Residential Mixed Use & Transit Overlay District | ||
| Price | $1,576,409 CAD |
| Price Per Unit | $197,051 CAD |
| Sale Type | Investment |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.45 AC |
| Building Size | 7,738 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1984/2025 |
| Parking Ratio | 1/1,000 SF |
| Zoning | RX3 & TOD - Residential Mixed Use & Transit Overlay District |
Amenities
Unit Amenities
- Air Conditioning
- Washer/Dryer Hookup
- Granite Countertops
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 8 | - | 720 |
1 1
Moderately walkable
60/100
Exceptionally drivable
100/100
Some public transit
40/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 1713.06-38-9209-000 | Improvements Assessment | $716,180 CAD |
| Land Assessment | $548,960 CAD | Total Assessment | $1,265,140 CAD |
Property Taxes
Parcel Number
1713.06-38-9209-000
Land Assessment
$548,960 CAD
Improvements Assessment
$716,180 CAD
Total Assessment
$1,265,140 CAD
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White Oak Apartments | 1600 Poole Rd
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