Amber Oaks
Durham, NC
Property Overview
Summary
- ADDRESS 3501 CENTURY OAKS DRIVE DURHAM, NC 27713
- PIN 0739-07-9507
- YEAR BUILT 1986
- NUMBER OF UNITS 96
- NUMBER OF BUILDINGS 7
- ACREAGE 10.71 AC
- GBA 87,456 SF
- AVG SF 908 SF
- AVG ASKING RENT $1,254
- OCCUPANCY 96%
Deaton GREA is pleased to present, as the exclusive listing broker for the seller, Amber Oaks Apartments, a 96-unit property in Durham, N.C. Amber Oaks is located in close proximity to downtown Durham, Raleigh-Durham airport, and Research Triangle Park (RTP), the largest high-tech and medical research park in North America. The location offers residents convenient access to multiple retail, educational, medical, and employment centers.
Built in 1986, the property features an attractive mix of sixteen, one-bedroom and 72, two-bedroom garden-style units. There are eight, three-bedroom, town home units. The offering offering represents an opportunity to acquire a strategically located property with value-add and operational upside.
The property is being offered free-and-clear or on assumption of the owner’s existing debt. The Fannie Mae loan has a balance of $7,483,000 at an interest rate of 4.67%. Originated in June of 2018, the loan had interest only payments for six years (until June of 2024). The loan matures May of 2030 (12 years) and has a 30-year amortization.
Our Team
Deaton is proud to do business with a handshake as easily as we do over the Internet, beause 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 GREA 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 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 GREA 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.