2209-2211 Morehead Avenue

Investor Opportunity - Renovated MF Near Duke | 5.5% Cap | Stable Rents + Upside

Charming, fully leased multifamily asset less than 1 mile from Duke University, offering strong in-place cash flow and a 5.6% cap rate. Unit mix includes rare 3BR/2BA and 2BR/2BA layouts that attract long-term tenants seeking single-family alternatives. Recent upgrades: new roof, HVAC system upgrades, drainage improvements, modernized kitchens/baths, and selective interior renovations (hardwoods, appliances, reconfigured closets). Additional Low turnover, proven rental history, and walkable yet private setting. Ideal for investors seeking stable performance with value-add levers.

22
beds

13
baths

9,148 Sq.Ft. LIVING AREA

1.01 Acres lot

Ed Billings

title Real Estate Broker
PHONE 919-525-1637
EMAIL [email protected]
DRE # 201236

Brooke Gelhaus

title Real Estate Broker
PHONE 919.307.7590
EMAIL [email protected]
DRE # 1000437

Features & Amenities

Interior

total bedrooms22
Total bathrooms13
full bathrooms13
Flooring Carpet, Hardwood, Vinyl

Area & Lot

Status For Sale
Living Area9,148 Sq.Ft.
Lot Area1.01 Acres
MLS® ID10102564
TypeCondo
YEAR BUILT1960

Exterior

STORIES3
water SourcePublic
roofShingle
parkingOn Site
HEAT TYPECentral
AIR CONDITIONINGCentral Air
sewerPublic Sewer
SubstructureBrick/Mortar

Financial

Sales Price$1,990,000
Real Estate Tax $12,565/yr
Zoning RS-M

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2209-2211 Morehead Avenue

$1,990,000

Ed Billings

Brooke Gelhaus

Features & Amenities

Interior

Area & Lot

Exterior

Financial

Schedule a Showing

Schedule a Showing

Mortgage Calculator

Work With Brooke

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Contact Details

Brooke Gelhaus

Ed Billings

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