517 Buck Jones Raleigh, NC 27606

Listing office NORTHGROUP REAL ESTATE, INC.

Listing date May 17, 2025

Source Corcoran

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 NORTHGROUP REAL ESTATE, INC.

Report an issue

---

Investment Insights

Based on property information with market context.

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.

Key Highlights

• 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.

Property Analytics

Property Profile Location Intelligence

Similar For Sale Nearby

• 

  $699,999

  3,981 SF

  Quadplex with Private Decks

  Four 2-bed, 2-bath units with private decks, all on month-to-month leases for flexible ownership.

  5333 Wayne Street, Raleigh, NC 27606

  View Details
• 

  $845,000

  2,025 SF

  Mixed-Use Office Building

  Zoned OX-3 for up to three stories, this small office-focused building suits owner-users and mixed-use concepts.

  405 Morson Street, Raleigh, NC 27601

  View Details
• 

  $199,999

  526 SF

  Renovated Office Suite For Sale

  Recently renovated office suite in a desirable Raleigh location.

  111 Windel Drive, Raleigh, NC 27609

  View Details
• 

  $3,900,000

  11,200 SF

  Modern Flex Building in Raleigh

  Built in 2021, suitable for industrial, office, retail.

  4550 Preslyn Drive, Raleigh, NC 27616

  View Details
• 

  $665,000

  3,168 SF

  Residential Income Triplex

  Triplex with one vacant unit available to show and long-term tenancy in place, sold as-is.

  3104 Crandon Lane, Raleigh, NC 27604

  View Details
• 

  $899,000

  3,677 SF

  Updated Four-Unit Residential Income

  Turnkey quadplex with renovated kitchens and baths, plus in-unit laundry near Downtown Raleigh.

  404 E Edenton Street, Raleigh, NC 27601

  View Details
• 

  $969,000

  2,513 SF

  Four-Unit Corner Lot Income Property

  Four renovated units in two duplexes with separate utility metering and ample on- and off-street parking.

  509 Cape Avenue, Raleigh, NC 27601

  View Details
• 

  $599,000

  2,727 SF

  Brick Triplex with Two 3-Bed Units

  R-6 zoned brick triplex on a 0.55-acre lot with two leased 3-bedroom units and one currently vacant 2-bedroom unit.

  850 Athens Drive, Raleigh, NC 27606

  View Details
• 

  $625,000

  1,777 SF

  Corner Lot Multifamily Income Property

  Eight-room income property with month-to-month occupancy and updates including roof, HVAC, and refreshed interiors.

  700 Glascock Street, Raleigh, NC 27604

  View Details
• 

  $1,100,000

  3,192 SF

  Historic Quadplex with Rear Parking

  Four renovated apartments with alley-access parking, including three long-term tenants and one month-to-month unit.

  1110 Glenwood Avenue, Raleigh, NC 27605

  View Details
• 

  $575,000

  2,083 SF

  Office Suite with Multiple Offices

  A well-appointed office suite with five offices, two bathrooms, and an updated break area, plus plenty of parking.

  6512 Six Forks Road, Raleigh, NC 27615

  View Details
• 

  $370,000

  1,176 SF

  Brick Office Condo with Glass Conference Room

  Move-in-ready, furnished office condo with open reception, multiple offices, and a conference room for client-ready meetings.

  7000 Harps Mill Road, Raleigh, NC 27615

  View Details

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 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.