Renovated Historic
1110 Glenwood Avenue, Raleigh, NC 27605
For Sale
$1,100,000
Pending
Four apartments combine updated interiors with preserved historic character.
Property Size3,192 SF
Days on Market138
Property Features for 1110 Glenwood Avenue
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Additional Details
Multifamily Units
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Year Renovated
Buildings
Listing Agency:
Rich Realty Group
Listed By:
Marshall Rich · License NC #189551
(919) 697-5320
Source:
Dustinbennett
Added: Jun 30
Changed: Nov 1
Last Checked: Nov 12 at 6:27PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Rich Realty Group
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Investment Insights
Based on property information with market context.
The Wallin-Trull House is a historic four-unit residential property originally built circa 1922. A comprehensive renovation completed in 2023 updated the kitchens, bathrooms, and mechanical systems while retaining the building’s historic character. The property contains 3,192 square feet and is configured for four income-producing apartments.
Three apartments are occupied by long-term tenants, while the fourth operates as a month-to-month Airbnb. Rear parking and alley access support the property’s residential configuration. The location provides walkable access to Five Points, Hayes Barton, Glenwood South, and Downtown Raleigh within the Historic Glenwood-Brooklyn neighborhood.
Three apartments are occupied by long-term tenants, while the fourth operates as a month-to-month Airbnb. Rear parking and alley access support the property’s residential configuration. The location provides walkable access to Five Points, Hayes Barton, Glenwood South, and Downtown Raleigh within the Historic Glenwood-Brooklyn neighborhood.
Key Highlights
- Four income‑producing apartments in a historic residential property
- Originally constructed circa 1922
- Comprehensive renovation completed in 2023
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$36,480
Cap Rate
3.32%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$729,600
$729.6K
Cap Rate 7%
$521,143
$521.1K
Cap Rate 9%
$405,333
$405.3K
Market Conditions
NOI Build-Up for 3,192 SF
Gross rent
$55.5K $17.40/SF
− Vacancy
−$3.4K −$1.07/SF
EGI
$52.1K $16.33/SF
− OpEx
−$15.6K −$4.90/SF
NOI
$36.5K $11.43/SF
Area
Raleigh, NC
Vacancy
6.17%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$729,600
Cap Rate 7%
$521,143
Cap Rate 9%
$405,333
Alternative Uses
Best Use
Multifamily LT 5
$521.1K
$456.0K – $608.0K
NOI $36,480 @ 7.0% cap · market cap 3.32%
Second Best
Apartment 5plus
$464.3K
$406.3K – $541.7K
NOI $32,501 @ 7.0% cap · market cap 2.95%
Theoretical Best
Specialty Retail
$877.2K
$767.6K – $1.02M
NOI $61,406 @ 7.0% cap · market cap 5.58%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,794
Businesses Nearby
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Business Placement
Demographics for 27605, NC
6,409
Population
4,377
Households
1.5
Avg Household Size
33
Median Age
73%
College-Educated
99%
High-School Grad
1.0 sq mi
ZIP Area
6,409
Density / Sq Mi
$63,267
Median Household Income
$47,765
Median Earnings
$1,577
Median Rent
$440,300
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - Four apartments combine updated interiors with preserved historic character.
Where is this quadplex located?
The property is located at 1110 Glenwood Avenue Raleigh, NC.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Four income‑producing apartments in a historic residential property; Originally constructed circa 1922; Comprehensive renovation completed in 2023
