Tangible Management Sells 20-Unit Multifamily Complex in Chapel Hill
Local Investor Purchases Duplex Style Units for $2.2M
May 16, 2014
Tangible Management sold the 20-unit Regency Place multifamily complex in Chapel Hill, NC, to a local investor for $2.2 million, or approximately $108,000 per unit.
The 24,100-square-foot duplex-style community consists of two-, three- and four-bedroom units in 10 buildings. It was built in 1983 in the outlying Orange County submarket and was 100 percent occupied at the time of sale.
Andrew Stults of ReMax Winning Edge represented the seller, while Russ Cole of Fonville Morisey Realty represented the buyer.
Please see CoStar COMP #3013074 for more information on the transaction.