About The Lory of Hillsborough
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 166-unit Lory of Hillsborough apartment community located in Hillsborough, NC. This asset is situated in a strategically located community of Hillsborough, NC. It is optimally located in a high-income market (average HHI over $100K) with growing home values (averaging $425K) and increasing rental rates in the Triangle MSA. Unmatched access to major thoroughfares I-85 and I-40 afford the submarket incredible connectivity to major employment hubs of Raleigh-Durham Research Triangle Park, Duke University, and UNC Chapel Hill. With the Hillsborough/Chapel Hill submarket experiencing an effective rental growth rate of 21.1% in Q1-22, combined with high barriers to entry, the asset is extremely well positioned to continue organic income growth and excellent value-add potential. Built in 1974, Lory of Hillsborough allows investors to acquire a well-maintained asset and inherit a proven, multifaceted value-add program to achieve a 19% boost to NOI.