517 Buck Jones Rd Raleigh, NC 27606
3186 sq. ft. property with ASR approval for development.
Property Features for 517 Buck Jones Rd
General Information
- Standard status
- Active
Source:
Corcoran
Listing Agent: Charles Santos
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
Development Opportunity with Rental Income
This 3186 sq. ft. property presents a development opportunity with immediate cash flow in Raleigh, NC. It features a renovated Midcentury home, currently operating as a short-term rental. 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. The property is situated in a Frequent Transit Area, supporting higher density and offering growth potential in Raleigh's market. Townhomes in the area are selling for $589K per unit. The project requires 20% of units (beyond the first 12) to meet affordability criteria. The sale includes Lot 5323 Barclay Dr., Raleigh, NC.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Alpha Book Publisher
Book Publisher
Location Insight
- Map
- Local Demand
- City
- Raleigh
- County
- Wake
- State
- North Carolina
- Longitude
- -78.7316092
- Latitude
- 35.7755867
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - 3186 sq. ft. property with ASR approval for development.
Where is this apartment building located?
The property is located at 517 Buck Jones Rd Raleigh, NC.
What is the asking price?
The asking price for this property is $3,678,900.
What are key features of this property?
This property features: - ASR approval for a 64-unit multifamily apartment development or a 54-unit townhome community.; - Immediate cash flow from a fully renovated Midcentury home operating as a successful short-term rental.; - Strategic location in a Frequent Transit Area, supporting higher density and growth potential.