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Fox Road Townhomes 6104-6120 Fox Rd 12 Unit Apartment Building $4,200,000 ($350,000/Unit) 5.15% Cap Rate Raleigh, NC 27616
Investment Highlights
- ±22,950 SF across three newly constructed buildings
- Built in 2023 — modern design and low-maintenance construction
- Flexibility to sell units individually and establish an HOA for retail disposition
- Twelve fee-simple townhome units, each deeded separately
- 100% leased, generating immediate income with minimal overhead
- Located near I-540, major employment hubs, and Triangle Town Center
Executive Summary
Twelve-unit new construction townhome portfolio located along Fox Road and Malone Court in North Raleigh. Built in 2023, the property totals ±22,950 SF across three buildings and is 100% leased. Each townhome is individually deeded, providing flexibility to hold as a stabilized rental portfolio or sell units individually at retail pricing.
All units feature three bedrooms, two and a half baths, open floor plans, modern finishes, and attached garages. The property generates strong in-place income with upside potential through rent adjustments on select below-market units.
Positioned just north of I-540, the portfolio offers convenient access to Research Triangle Park, Raleigh-Durham International Airport, and the Triangle Town Center retail district. This turnkey offering combines new construction, fee-simple ownership, and minimal operating overhead in one of Raleigh’s most dynamic residential submarkets.
Offered at $4,200,000 | 5.15% Cap Rate (In-Place)
All units feature three bedrooms, two and a half baths, open floor plans, modern finishes, and attached garages. The property generates strong in-place income with upside potential through rent adjustments on select below-market units.
Positioned just north of I-540, the portfolio offers convenient access to Research Triangle Park, Raleigh-Durham International Airport, and the Triangle Town Center retail district. This turnkey offering combines new construction, fee-simple ownership, and minimal operating overhead in one of Raleigh’s most dynamic residential submarkets.
Offered at $4,200,000 | 5.15% Cap Rate (In-Place)
Data Room Click Here to Access
Property Facts
| Price | $4,200,000 | Apartment Style | Townhome |
| Price Per Unit | $350,000 | Building Class | B |
| Sale Type | Investment | Lot Size | 1.39 AC |
| Cap Rate | 5.15% | Building Size | 22,962 SF |
| Gross Rent Multiplier | 14.63 | No. Stories | 2 |
| No. Units | 12 | Year Built | 2023 |
| Property Type | Multifamily | Parking Ratio | 0.57/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | R-10 - Residential | ||
| Price | $4,200,000 |
| Price Per Unit | $350,000 |
| Sale Type | Investment |
| Cap Rate | 5.15% |
| Gross Rent Multiplier | 14.63 |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Townhome |
| Building Class | B |
| Lot Size | 1.39 AC |
| Building Size | 22,962 SF |
| No. Stories | 2 |
| Year Built | 2023 |
| Parking Ratio | 0.57/1,000 SF |
| Zoning | R-10 - Residential |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Oven
- Tub/Shower
Site Amenities
- 24 Hour Access
- Tenant Controlled HVAC
- Pet Play Area
- Online Services
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+2 | 12 | - | 1,850 - 2,060 |
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Property Taxes
| Parcel Number | 1726.08-89-6513-000 | Improvements Assessment | $0 |
| Land Assessment | $75,000 | Total Assessment | $75,000 |
Property Taxes
Parcel Number
1726.08-89-6513-000
Land Assessment
$75,000
Improvements Assessment
$0
Total Assessment
$75,000
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Fox Road Townhomes | 6104-6120 Fox Rd
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