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Raleigh,NC 27610
Key Details
Property Type Multi-Family
Sub Type Duplex
Listing Status Active
Purchase Type For Sale
Square Footage 2,033 sqft
Price per Sqft $196
Subdivision Country Club View
MLS Listing ID 10085797
Style Site Built
Bedrooms 4
Full Baths 2
Half Baths 2
Year Built 1984
Annual Tax Amount $2,919
Lot Size 0.460 Acres
Property Sub-Type Duplex
Property Description
ATTENTION DEVELOPERS! Rare Duplex offered in the heart of Raleigh near HWY 64 and Interstate 40 by Wake Med Hospital. The home resides in the newly rezoned high density special transit district for New Bern Ave (Hwy 64) where the city is building a multi million transit upgrade for HWY 64 to make the city more accessible. This home currently is a duplex in need of repair and home is uninhabitable. However with the new zoning it is approved for up to 16 units and could be torn down and a small apartment complex or up to 12 townhomes could be put in its place. If a developer were to acquire surrounding properties then a much larger high density project could be green lit by the city. The current owners have made significant upgrades with over $40K in renovations the last 10 years including remodeling both units and upgrading HVAC on both units in the last 2 years. No HOA helps you save on monthly expenses and retain full control over the property. This property boasts a proven track record and excellent rental history, making it an ideal opportunity to fix and flip or develop for savvy investors. A 3bd/2bath apartment or townhome would likely rent for $1900-$2000 a month in this location based on current market comps.
Location
State NC
County Wake
Interior
Heating Natural Gas
Cooling Electric
Flooring Carpet,Vinyl
Exterior
Exterior Feature Storage
View Y/N Yes
Roof Type Shingle
Building
Story 2
Foundation Other
Sewer Public Sewer
Water Public
Structure Type Masonite
New Construction No
Schools
Elementary Schools Wake - Oak Grove
Middle Schools Wake - Dillard
High Schools Wake - Enloe
Others
Special Listing Condition Standard