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336.600.1052
Real Estate Company
2209 Garden Pl, Raleigh, NC 27607
- $2,495,000
- 10
- BD
- 11
- BA
- 5,126
- SqFt
Seller Representative Compass -- Raleigh
- List Price
- $2,495,000
- Status
- ACTIVE
- Days on Market
- 4
- MLS#
- 10202650
- Subtype
- Residential Income
- New Construction
- Yes
- Year Built
- 2024
- Bedrooms
- 10
- Bathrooms
- 11
- Full Baths
- 10
- Half Baths
- 1
- Living Area
- 5,126
- Lot Size
- 10,019
- Acres
- 0.23
- Subdivision
- West Raleigh
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.
Additional Information
- Interior Features
- Ceiling Fans, High Ceilings, Kitchen Island, Open Floor Plan, Pantry, Recessed Lighting, Walk-In Closet(s), Quartz/Quartzite Counters
- Taxes
- $11,783
- Zoning
- RX-3
- Flooring
- Vinyl
- Appliances
- Dryer, Disposal, Dishwasher, Electric Oven, Electric Range, Freezer, Microwave, Range, Refrigerator, Stainless Steel Appliance(s), Washer, Washer/Dryer
- Heating
- Central
- Air Conditioning
- Central Air
- Stories
- 2
- Levels
- Two
- Roof
- Shingle
- Foundation
- Slab
- Parking Features
- Driveway, Off Street
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Listings provided courtesy of Triangle MLS, Inc. of NC, Internet Data Exchange Database. Information deemed reliable but not guaranteed. © 2026 Triangle MLS, Inc. of North Carolina. Data last updated .