Rarely on market! Supreme location - just 2 blocks from Franklin Street and UNC campus. Situated on a lovely 1/2 acre lot on North Street, surrounded by beautiful mature trees, this Colonial Revival style home is named as a contributing structure to the Franklin-Rosemary Historic District's inclusion on the prestigious National Register of Historic Places. This gorgeously renovated home has 5 bedrooms and 2 baths. The accessory apartment has 3 bedrooms and 2 baths for a total of 3700 square feet. The main house is spacious, with light filled rooms, large windows, high ceilings and gorgeous original hardwood floors. There is an abundance of traditional architectural details throughout. It features 2 patios, a deck and a balcony. The accessory apartment was added in 2013, has its own private entrance and features similar fixtures and finishes as the main house. Both have been meticulously maintained with new HVAC systems, newly insulated attic and a newly sealed crawlspace. They both have stainless steel appliances and energy efficient washers and dryers. 501 North Street has been an outstanding rental property for years. Market rates for bedrooms in this neighborhood exceed $1000/month per bed, and continue to be in incredibly high demand. For more information on its rental performance, please refer to the Offering Memorandum. Amazing opportunity that doesn't come around often. Keep it as a gold plate investment property or make it your home in the most desirable neighborhood in Chapel Hill.