AMBER OAKS

Property Description

Deaton GREA is pleased to present, as the exclusive listing broker for the seller, Amber Oaks Apartments, a 96-unit property in Durham, N.C. Amber Oaks is located in close proximity to downtown Durham, Raleigh-Durham airport, and Research Triangle Park (RTP), the largest high-tech and medical research park in North America. The location offers residents convenient access to multiple retail, educational, medical, and employment centers.Built in 1986, the property features an attractive mix of sixteen, one-bedroom and 72, two-bedroom garden-style units. There are eight, three-bedroom, town home units. The offering offering represents an opportunity to acquire a strategically located property with value-add and operational upside.The property is being offered free-and-clear or on assumption of the owner’s existing debt. The Fannie Mae loan has a balance of $7,483,000 at an interest rate of 4.67%. Originated in June of 2018, the loan had interest only payments for six years (until June of 2024). The loan matures May of 2030 (12 years) and has a 30-year amortization.