517 Buck Jones Road, Raleigh, NC 27606
Land 
Built in —— 
4.84acre lot
—— car garage 
$——/sqft 
Listed 2 days ago
Property Description
Prime Development Opportunity with Immediate Cash Flow in Raleigh, NCThis exceptional 3186 sq. ft. property features a fully renovated Midcentury home, currently operating as a successful short-term rental, generating steady cash flow while your development project progresses. The site has ASR approval for a 64-unit multifamily apartment development, with the flexibility to convert to a 54-unit townhome community with minor modifications to the approved ASR.Strategic Location: Situated in a Frequent Transit Area, this property supports higher density and offers significant growth potential in Raleigh's booming market.Market Insights: Townhomes in the area are selling for $589K per unit, highlighting strong demand and the high value of this site.Affordable Housing Component: The project requires 20% of units (beyond the first 12) to meet affordability criteria, aligning with the growing demand for attainable housing while enhancing community impact and project appeal.Inclusions: The sale includes Lot 5323 Barclay Dr., Raleigh, NC.This is a rare opportunity to capitalize on Raleigh's thriving market, delivering a high-impact project in a prime location with unmatched accessibility to major hubs, all while benefiting from immediate rental income from the renovated Midcentury home
- Listing Status:
- Active
- Listing Office:
- NorthGroup Real Estate, Inc. : 704-412-2804
- Listing Agent:
- Charles Santos : 919-987-5068
- MLS ID:
- 10097033
- Road/Access: City StreetHighway
- Originating MLS: AMLSNC
- County: Wake
This listing courtesy of Charles Santos, NorthGroup Real Estate, Inc.
Location
Schools Nearby
Mount Vernon
5418 Chapel Hill Rd, Raleigh, NC, 27607
Grades KG-8
1.27 miles away
Connections Academy
1280 Buck Jones Rd, Raleigh, NC, 27606
Grades 6-8
0.82 miles away
Athens Drive Magnet High School
1420 Athens Dr, Raleigh, NC, 27606
Grades 9-12
1.22 miles away
