1108 Rand StDurham, NC 27701

Property Details for 1108 Rand St

Year built

2024

Property size (Sq ft)

800 SF

Property type

Investment properties

Property subtype

Multifamily properties

Description

This exceptional investment opportunity presents a portfolio of nine brand-new duplexes, each featuring a separate ADU, located in the heart of Durham, NC, just 0.6 miles from Duke University. Completed in 2024, these six buildings boast a total of nine units, ranging from 800 to 1600 square feet, with three-story construction. The main units (A & B) offer 3 bedrooms and 3.5 bathrooms, while the ADUs (Unit C) provide 2 bedrooms and 1.5 bathrooms. High-end finishes include quartz countertops, stainless steel Frigidaire appliances, and durable LVP flooring. The properties are situated near the Ellerbee Creek Greenway, providing easy access to downtown Durham. With no HOA fees, investors can maximize rental income through traditional leases or short-term rentals. The asking price is $3,300,000, representing $400,000 per unit and $300 per square foot. This represents a unique opportunity to capitalize on the growth of Durham's vibrant downtown area, with current rental rates estimated at $2500-$2700 per duplex side and $1800-$1900 per ADU. Built by Homes by Dickerson, these properties are ready for immediate income generation. Each unit is individually listed on the local MLS for $1,100,000, offering flexibility for purchase as a whole or individually.

Location Insight

City

Durham

County

Durham

State

North Carolina

Latitude

36.0101

Longitude

-78.9018

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