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30 photos

$1,195,000

594 Cedar Lake Road, Chapel Hill, NC 27516
Chapel Hill, NC 27516
Listed by Todd Averette · 1st Choice Realty of Triangle
Bedrooms
6
Bathrooms
3
Living area
N/A
Year built
1981

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 almost 5 acres of land that has much more potential. All 6 units have an excellent and proven rental history that is just minutes to UNC/CH hospital, shops and grocery stores. Each unit is 736 sq ft and offers a 2 bed / 1 bath, fireplace, new floors, appliances, fiber cement siding, decks and more! One unit is available for showings while being updated. Units are managed by Evans Property Management

Property details

MLS
Doorify MLS
MLS #
10195912
Property type
Condominium
Subdivision
Shadow Ridge
Status
Active
Days on market
17
On market date
October 1, 2026
Stories
N/A
Total bathrooms
3
Garage spaces
N/A
Parking spaces
N/A
Lot size
4.98 acres
Loading map…

Nearby schools

Within 10 miles. School directory data from the National Center for Education Statistics (NCES), accessed via the Urban Institute Education Data API. Local Score is calculated by INNOVATE Real Estate; where a state rating is shown, it comes from that state's own official school report card.

Elementary
Perry W Harrison Elementary
4.84 mi away · Grades -1-5
Zoned school (attendance boundary, 2015-16 data)
4.3
Local Score (state rating (2025) blended 70/30 with student-teacher ratio) -- not an official state rating
State rating: B (2025)
Enrollment
225
Student:teacher ratio
11.8:1
District
Chatham County Schools
Middle
Margaret B. Pollard Middle
2.72 mi away · Grades 6-8
Zoned school (attendance boundary, 2015-16 data)
3.7
Local Score (state rating (2025) blended 70/30 with student-teacher ratio) -- not an official state rating
State rating: B (2025)
Enrollment
775
Student:teacher ratio
17.6:1
District
Chatham County Schools
High
Northwood High
8.02 mi away · Grades 9-12
Zoned school (attendance boundary, 2015-16 data)
3.7
Local Score (state rating (2025) blended 70/30 with student-teacher ratio) -- not an official state rating
State rating: B (2025)
Enrollment
1,124
Student:teacher ratio
15.8:1
District
Chatham County Schools

Walkability

Blended score for Chapel Hill's center, calculated by INNOVATE Real Estate from two sources: the EPA's National Walkability Index (street network, transit, land-use mix) and Google Places amenity data (what's actually reachable on foot from this point). 60% EPA National Walkability Index + 40% nearby-amenity density (Google Places).

20
Car-dependent
out of 100
EPA National Walkability Index
6.0 / 20 -- Below average walkable
Google Places amenity density
5 / 100
Restaurants & cafes0
Grocery stores1
Parks0
Schools0
Transit stops0
Pharmacies0

Market position

How this listing compares to current activity in Chapel Hill, from live MLS data.

On the market 17 days -- 118 fewer days than Chapel Hill's current average of 135 days.
For reference, the median list price across 641 active listings in Chapel Hill right now is $532,000.

Mortgage calculator

Estimate only - actual rate and payment depend on your lender, credit, and loan program.

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Est. monthly payment
$7,346/mo
$239,000 down
$956,000 loan
Principal & interest$6,201
Property tax (est.)$996
Home insurance (est.)$150

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Data source: Listing information provided by Doorify MLS via Trestle/CoreLogic. Last updated 18 days ago.

Information herein deemed reliable but not guaranteed; all measurements, school assignments, HOA fees, taxes, and feature lists are approximate and should be independently verified. Equal Housing Opportunity.