Movoto Real Estate

2209 Garden Pl, Raleigh, NC 27607

$2,495,000
•
  • 10

    bed

  • 11

    bath

  • 5,126

    Sqft ($487/Sqft)

Multi-family for sale 4 hours

About 2209 Garden Pl

Property type Multi-family
Neighborhood
Year built 2024
HOA fee $0/month
Lot size 10,019 Sqft
Movoto estimate
Property description
Garden Place is more than a rental property; it is a high-performance financial instrument. By combining a 2.17 DSCR with an irreplaceable NCSU location and guaranteed income through mid-2027, this asset provides the transparency and security that the 2026 market demands. In a volatile interest rate environment, Garden Place offers a safe harbor for investors seeking capital preservation without sacrificing yield. As a developer-built asset, every aspect of this portfolio has been engineered to maximize Debt Service Coverage and minimize operational risk. Steps from the NC State University Belltower, this property sits in the most supply-constrained student housing pocket in Raleigh. Its "walkable" status to the campus core ensures a permanent waitlist and zero-vacancy historic performance. The portfolio is currently 100% leased through June 2027, providing the new owner with nearly 16 months of guaranteed, uninterrupted revenue. The property is professionally managed at a 24.3% expense ratio, significantly outperforming market averages.
Listed by
Listing Agent - Johnny Chappell
Listing Office - Compass -- Raleigh
Source: Doorify MLS mls logo
MLS#10202650 • last updated 4 hours ago
Movoto checked Doorify MLS for data 19 minutes ago
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Overview
Cooling/AC Central Air
Heating Central
Levels/Style Two, Duplex, House, Multi Family, Site Built, 2
MLS # 10202650
Type Residential Income
Status Active
SubType Duplex
Living Area 5126
Lot Size (SqFt) 10019
Lot Size (Acres) 0.23
Property Tax 11783.06
Year Built 2024
Condition New Construction, Spec Home
Interior
# of Half Baths 1
Total # of Bathrooms 11
# of Full Baths 10
Total # of Bedrooms 10
Laundry Inside, Laundry Room, In Unit, Washer/Dryer Hookups
Flooring Luxury Vinyl
Appliances Dryer, Disposal, Dishwasher, Electric Oven, Electric Range, Freezer, Microwave, Range, Refrigerator, Stainless Steel Appliance(s), Washer, Washer/Dryer
Interior Features Ceiling Fan(s), High Ceilings, Kitchen Island, Open Floorplan, Pantry, Recessed Lighting, Walk-in Closet(s), Quartz Counters
Exterior
Foundation Slab
Roof Shingle
Construction HardiPlank Type
# of Open Parking Spaces 10
Parking Driveway, Off Street
# of Parking Spaces 10
Patio/Porch Deck, Porch, Patio
Amenities / Utilities
Sewer/Septic Public Sewer
Water Source Public
Location
County Wake
Subdivision West Raleigh
Zoning RX-3
APN 79420924015000 35568
Lot/ Land Details
Road Responsibility Public Maintained Road
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Have a question about this property? Call us at (844) 430-0869
5/10
Olds Elementary
public Grades PK, K-5
Wake County School District
3/10
Martin Middle
public Grades 6-8
Wake County School District
7/10
Needham Broughton High
public Grades 9-12
Wake County School District
Source: GreatSchools.org © 2026. All rights reserved.

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