$1,635,000

594 Cedar Lake Rd Unit A & B Chapel Hill, NC 27516

Estimated payment $9,113/month

Total Views 3,426
6 Beds
3 Baths
4,416 Sq Ft
$370 Price per Sq Ft

Highlights

  • 4.98 Acre Lot
  • A-Frame Home
  • Fireplace
  • Margaret B. Pollard Middle School Rated A-
  • No HOA
  • 1-Story Property

About This Home

Turnkey Multi Unit Investment opportunity available! Updated 6-unit Condominium Units on Approx. 5 acres in the Beautiful Chapel Hill area with low Chatham County taxes and NO HOA! This is a rare chance to own a 6-unit condominium package on 5 acres of land that has much more potential. All 6 units have Excellent Rental history, close to UNC/CH Hospital, shops and grocery stores. Each unit is 736 sq ft that offers a 2 bed / 1 bath with a fireplace, new floors, appliances, fiber cement exterior siding, decks and more! Total rent for all 6 units is $7,225 with a proven rent history. This property is being sold as a package deal with 4604 Lavista Ct. in Raleigh. (MLS# 10116688) Total number of units is 8 with a total income of $9,875.

Listing Agent

Todd Averette

1st Choice Realty of Triangle License #278256 Listed on: 08/19/2025

Co-Listing Agent

Mary Jo Edgerton

1st Choice Realty of Triangle License #193914

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $5,745

Year Built

  • Built in 1981

Lot Details

  • 4.98 Acre Lot

Home Design

  • Duplex
  • A-Frame Home
  • Shingle Roof

Interior Spaces

  • 4,416 Sq Ft Home
  • 1-Story Property
  • Fireplace
  • Luxury Vinyl Tile Flooring
  • Basement
  • Crawl Space

Bedrooms and Bathrooms

  • 6 Bedrooms
  • 3 Full Bathrooms

Parking

  • Gravel Driveway
  • 6 Open Parking Spaces

Schools

  • Chatham Grove Elementary School
  • Margaret B Pollard Middle School
  • Seaforth High School

Utilities

  • Central Air
  • Heat Pump System
  • Shared Well
  • Well
  • Septic Tank

Community Details

  • No Home Owners Association
  • 3 Buildings
  • 6 Units
  • Shadow Ridge Subdivision

Listing and Financial Details

  • Assessor Parcel Number 002606

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$5,745

Year Built

Built in 1981

Lot Details

0

Listing Details

  • Year Built: 1981
  • Prop. Type: Residential Income
  • Co List Office Phone: 919-475-8310
  • Subdivision Name: Shadow Ridge
  • Above Grade Finished Sq Ft: 4416.0
  • Unit Levels: One
  • New Construction: No
  • General Property Information Basement YN: Yes
  • Cooling Central Air: Yes
  • Flooring Luxury Vinyl: Yes
  • Levels One: Yes
  • Water Source Well: Yes
  • Remarks and Miscellaneous Syndication Remarks2: Turnkey Multi Unit Investment opportunity available! Updated 6-unit Condominium Units on Approx. 5 acres in the Beautiful Chapel Hill area with low Chatham County taxes and NO HOA! This is a rare chance to own a 6-unit condominium package on 5 acres of land that has much more potential. All 6 units have Excellent Rental history, close to UNC/CH Hospital, shops and grocery stores. Each unit is 736 sq ft that offers a 2 bed / 1 bath with a fireplace, new floors, appliances, fiber cement exterior siding, decks and more! Total rent for all 6 units is $7,225 with a proven rent history. This property is being sold as a package deal with 4604 Lavista Ct. in Raleigh. (MLS# 10116688) Total number of units is 8 with a total income of $9,875.
  • Water Source Shared Well: Yes
  • Architectural Style A-Frame: Yes
  • Roof:Shingle: Yes
  • Contract Information Lease Term: 12 Months
  • General Property Information Above Grade Finished Area: 4416.0
  • General Property Information Number Of Units Total3: 6.0
  • Structure Type Duplex: Yes
  • General Property Information Lot Size Square Feet2: 216928.8
  • General Property Information Number Of Buildings2: 3.0
  • General Property Information Lot Size Acres: 4.98
  • General Property Information:Living Area3: 4416.0
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Flooring: Luxury Vinyl
  • Basement: Crawl Space
  • Basement YN: Yes
  • Full Bathrooms: 3
  • Total Bedrooms: 6
  • Basement:Crawl Space: Yes

Exterior Features

  • Roof: Shingle
  • Acres: 4.98
  • Construction Type: Fiber Cement
  • Construction Materials:Fiber Cement: Yes

Garage/Parking

  • Attached Garage: No
  • Open Parking Spaces: 6.0
  • Open Parking: Yes
  • Parking Features: Gravel
  • Parking Features:Gravel: Yes
  • General Property Information:Open Parking YN2: Yes
  • General Property Information:Open Parking Spaces2: 6.0

Utilities

  • Heating: Electric, Fireplace(s), Heat Pump
  • Cooling: Central Air, Heat Pump
  • Cooling Y N: Yes
  • HeatingYN: Yes
  • Water Source: Shared Well, Well
  • Heating:Electric4: Yes
  • Heating:Heat Pump2: Yes
  • Sewer Septic Tank: Yes
  • HeatingCooling:Heat Pump: Yes
  • Heating:Fireplace(s): Yes

Condo/Co-op/Association

  • Association: No

Association/Amenities

  • General Property Information:Association YN: No

Schools

  • Ninth Grade High School: Chatham - Seaforth
  • Middle Or Junior School: Chatham - Margaret B Pollard

Lot Info

  • Zoning: R-2
  • Lot Size Sq Ft: 216928.8
  • ResoLotSizeUnits: Acres
  • Parcel #: 002606

Rental Info

  • Lease Term: 12 Months
  • Owner Pays: Grounds Care

Tax Info

  • Tax Annual Amount: 5744.75
  • Tax Year: 2024

Multi Family

  • Number Of Units Total: 6

MLS Schools

  • Elementary School: Chatham - Chatham Grove

Map

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
Collateral Analytics

Collateral Analytics Collateral Analytics AVMs (Automated Valuation Model) employ a number of statistical approaches combined with neighborhood-specific comparable selection guarantees the most up-to-date and precise valuations.

Not Available

Collateral Analytics does not have data for the current month. Please view the chart for historical values.

ICE

ICE Mortgage Technology ICE Mortgage Technology’s AVM (Automated Valuation Model) is a state-of-the-art online residential property valuation tool that provides a quick and accurate estimate of the value of almost any home in the U.S.

Not Available

ICE Mortgage Technology does not have data for the current month. Please view the chart for historical values.

First American

First American First American Data & Analytics’ next-generation AVM combines unrivaled data assets with a blended ensemble of valuation models to produce highly accurate, reliable valuations you can trust.

Not Available

First American does not have data for the current month. Please view the chart for historical values.

Quantarium

Quantarium Quantarium’s valuation service, repeatedly proven the industry’s most accurate and comprehensive, is supercharged with a self-learning and auto-tuning AI engine that continually becomes smarter and more accurate as it processes daily inputs from the industry’s leading RE data lake.

Not Available

Quantarium does not have data for the current month. Please view the chart for historical values.

Average Value
Not Available
List Price
Sold Price
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area

Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
08/19/2025 08/19/25 For Sale $1,635,000 +59.5% $370 / Sq Ft
12/14/2023 12/14/23 Off Market $1,025,000 -- --
08/15/2023 08/15/23 Sold $1,025,000 -10.9% $348 / Sq Ft View Prior Sale
07/07/2023 07/07/23 Pending -- -- --
10/26/2022 10/26/22 Price Changed $1,150,000 -3.8% $391 / Sq Ft
07/09/2022 07/09/22 For Sale $1,195,000 -- $406 / Sq Ft
Source: Doorify MLS

Source: Doorify MLS

MLS Number: 10116697

Doorify MLS
North Carolina Chatham County Chapel Hill 27516

594 Cedar Lake Rd Unit A & B, Chapel Hill, NC

For Sale

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

Doorify MLS Some IDX listings have been excluded from this IDX display. Brokers make an effort to deliver accurate information, but buyers should independently verify any information on which they will rely in a transaction. The listing broker shall not be responsible for any typographical errors, misinformation, or misprints, and they shall be held totally harmless from any damages arising from reliance upon this data. This data is provided exclusively for consumers’ personal, non-commercial use. Listings marked with an icon are provided courtesy of the Doorify MLS, Inc. of North Carolina, Internet Data Exchange Database. Closed (sold) listings may have been listed and/or sold by a real estate firm other than the firm(s) featured on this website. Closed data is not available until the sale of the property is recorded in the MLS. Home sale data is not an appraisal, CMA, competitive or comparative market analysis, or home valuation of any property. Copyright 2025 Doorify MLS, Inc. of North Carolina. All rights reserved.

Nearby Homes
Listing Agent
Todd Averette
Section Image
1st Choice Realty of Triangle
(984) 254-3571