4-Unit Quadplex with Condo
New
For Sale
$1,288,000
310 Culvert Street, Apex, NC 27502
Residential Income, Apex, NC
Property Size4,032 SF
Lot Size0.40 Acres
Price / SF$319.44
Days on Market2
Property Features for 310 Culvert Street
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning
HD MF
Bedrooms
8
Bathrooms
6
Full bathrooms
8
Half bathrooms
4
Rooms
Bathroom 6, Bedroom 1, Bedroom 8, Bedroom 6, Bedroom 2, Bathroom 8, Bathroom 3, Bathroom 1, Bedroom 7, Bedroom 4, Bathroom 7, Bathroom 4, Bathroom 5, Bathroom 2, Bedroom 5, Bedroom 3
Parking
84
Parking features
Open
Vegetation
Cleared, Partially Wooded
Window features
Wood Frames
Patio and Porch features
Porch, Deck
Interior features
Bathtub/Shower Combination, Chandelier, Laminate Counters
Appliances
Dishwasher, Electric Range, Free-Standing Electric Range, Free-Standing Range, Free-Standing Refrigerator, Microwave, Range, Range Hood, Refrigerator
Subdivision
Town Lot
Lot features
Back Yard, Few Trees, Front Yard
Elementary school
Wake - Apex Elementary
Middle school
Wake - Apex Middle
High school
Wake - Apex High
Standard status
Active
APN
074219501639000 0062363
Size
4,032 SF
Lot size
0.40 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
Prop Of Richard Hurlock
Tax Annual Amount
16486
Legal Description
Prop Of Richard Hurlock
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Natural Gas
Cooling system
Central Air
Water source
Public
Building Details
Year built
1985
Floors in Building
2
Number of units
4
Flooring type
Wood, Tile, Carpet
Building materials
Vinyl Siding
Roof type
Shingle
Listing Agency:
LPT Realty, LLC
(877) 366-2213
Listed By:
Jeremy James Glasson
(919) 630-3708
Added: Oct 11
Last Checked: Oct 12 at 4:06AM
MLS# 10197879
Copyright © 2026 Doorify MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 4,032-square-foot quadplex contains four occupied residences on a 0.4-acre parcel. Built in 1985, the property has vinyl siding, central air, natural gas heat, and open parking. Porches and a deck provide outdoor areas, while public water and sewer serve the site. The zoning designation is HD MF.
The property is in downtown Apex, North Carolina. A proposed five-unit condominium plan and renderings have received preliminary review by the Town of Apex. Any redevelopment would remain subject to applicable approvals and verification of feasibility.
The property is in downtown Apex, North Carolina. A proposed five-unit condominium plan and renderings have received preliminary review by the Town of Apex. Any redevelopment would remain subject to applicable approvals and verification of feasibility.
Key Highlights
- Four occupied residential units
- 4,032‑square‑foot building on 0.4 acres
- HD MF zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$46,556
Cap Rate
3.61%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$931,120
$931.1K
Cap Rate 7%
$665,086
$665.1K
Cap Rate 9%
$517,289
$517.3K
Market Conditions
NOI Build-Up for 4,032 SF
Gross rent
$70.2K $17.40/SF
− Vacancy
−$3.6K −$0.90/SF
EGI
$66.5K $16.50/SF
− OpEx
−$20.0K −$4.95/SF
NOI
$46.6K $11.55/SF
Area
Wake County, NC
Vacancy
5.20%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$931,120
Cap Rate 7%
$665,086
Cap Rate 9%
$517,289
Alternative Uses
Best Use
Multifamily LT 5
$665.1K
$582.0K – $775.9K
NOI $46,556 @ 7.0% cap · market cap 3.61%
Second Best
Apartment 5plus
$589.6K
$515.9K – $687.9K
NOI $41,274 @ 7.0% cap · market cap 3.20%
Theoretical Best
Specialty Retail
$1.15M
$1.01M – $1.34M
NOI $80,587 @ 7.0% cap · market cap 6.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,002
Businesses Nearby
Explore this area
Business Placement
Demographics for 27502, NC
45,725
Population
17,607
Households
2.6
Avg Household Size
37
Median Age
66%
College-Educated
97%
High-School Grad
28.3 sq mi
ZIP Area
1,616
Density / Sq Mi
$137,088
Median Household Income
$73,848
Median Earnings
$1,786
Median Rent
$491,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Quadplex - All four residences are occupied, and a five-unit condominium concept has received preliminary review by the Town of Apex.
Where is this quadplex located?
The property is located at 310 Culvert Street Apex, NC.
What is the asking price?
The asking price for this property is $1,288,000.
What are key features of this property?
This property features: Four occupied residential units; 4,032‑square‑foot building on 0.4 acres; HD MF zoning
