Log In/Sign Up
Your email has been sent.
Mitchell Mill - 14 unit new construction 3824 Mitchell Mill Rd 14 Unit Apartment Building $5,700,000 ($407,143/Unit) Raleigh, NC 27616
Investment Highlights
- Full 14-unit, new-construction townhome community with adjacent expansion land available
- Three units already leased through summer 2027 at $2,100–$2,295 per month
- Prime North Raleigh location with convenient access to I-540, Downtown Raleigh, and RTP
Executive Summary
Mitchell Mill offers a rare opportunity to acquire a full 14-unit, new-construction townhome community in North Raleigh. Adjacent land may also be included for an amenity area, guest parking, or future expansion of up to four additional units.
Leasing began in July, and three units are already leased through summer 2027 at $2,100, $2,195, and $2,295 per month, with additional inquiries continuing to come in.
Each three-level townhome features three bedrooms, a flexible loft, open living areas, a private deck, second-floor laundry, generous storage, a spacious primary suite, and a one-car garage.
Conveniently located near I-540, Mitchell Mill provides easy access to Downtown Raleigh, RTP, shopping, dining, and nearby greenways. With strong early leasing activity, new-construction quality, and expansion potential, the community presents a compelling investment opportunity.
Leasing began in July, and three units are already leased through summer 2027 at $2,100, $2,195, and $2,295 per month, with additional inquiries continuing to come in.
Each three-level townhome features three bedrooms, a flexible loft, open living areas, a private deck, second-floor laundry, generous storage, a spacious primary suite, and a one-car garage.
Conveniently located near I-540, Mitchell Mill provides easy access to Downtown Raleigh, RTP, shopping, dining, and nearby greenways. With strong early leasing activity, new-construction quality, and expansion potential, the community presents a compelling investment opportunity.
Property Facts
| Price | $5,700,000 | Building Class | B |
| Price Per Unit | $407,143 | Lot Size | 1.50 AC |
| Sale Type | Investment | Building Size | 28,224 SF |
| No. Units | 14 | Average Occupancy | 21% |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built | 2026 |
| Zoning | R-4 - Residential | ||
| Price | $5,700,000 |
| Price Per Unit | $407,143 |
| Sale Type | Investment |
| No. Units | 14 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | B |
| Lot Size | 1.50 AC |
| Building Size | 28,224 SF |
| Average Occupancy | 21% |
| No. Stories | 3 |
| Year Built | 2026 |
| Zoning | R-4 - Residential |
Amenities
- Smoke Detector
Unit Amenities
- Air Conditioning
- Balcony
- Cable Ready
- Dishwasher
- Disposal
- Microwave
- Storage Space
- Washer/Dryer Hookup
- Heating
- Ceiling Fans
- Tile Floors
- Double Vanities
- Kitchen
- Hardwood Floors
- Oven
- Stainless Steel Appliances
- Range
- Tub/Shower
- Walk-In Closets
- Deck
- Dining Room
- Family Room
- Island Kitchen
- Pantry
- Porch
- Large Bedrooms
Site Amenities
- Private Bathroom
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+3.5 | 14 | - | 2,016 |
1 1
Somewhat walkable
20/100
Exceptionally drivable
90/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 1747.01-37-6009-000 | Improvements Assessment | $0 |
| Land Assessment | $24,600 | Total Assessment | $24,600 |
Property Taxes
Parcel Number
1747.01-37-6009-000
Land Assessment
$24,600
Improvements Assessment
$0
Total Assessment
$24,600
1 of 33
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
1 of 1
