Move-in Ready Raleigh Multi-Family
5061 Lundy Drive, Raleigh, NC 27606
- Added:
- Aug 12, 2025
- Days on Market:
- 308
- Last Refresh:
- Jun 15 at 4:06 pm
Property Features for 5061 Lundy Drive
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Property condition
- Under Construction
- Bedrooms
- 6
- Bathrooms
- 7
- Rooms
- Bedroom 2, Bedroom 4, Bathroom 4, Bathroom 5, Bedroom 5, Bathroom 6, Bedroom 6, Bathroom 2, Bedroom 3, Bathroom 3, Bedroom 1, Bathroom 8, Bathroom 1, Bathroom 7
- Parking
- 4
- Parking features
- On Street
- Patio and Porch features
- Porch, Patio
- Interior features
- Bathtub/Shower Combination, Ceiling Fan(s), Double Vanity, Entrance Foyer, High Ceilings, Kitchen Island, Pantry, Quartz Counters, Shower Only, Smooth Ceilings, Storage, Walk-In Closet(s), Walk-In Shower, Water Closet
- Exterior features
- Rain Gutters
- Appliances
- Dishwasher, Electric Range, Electric Water Heater, ENERGY STAR Qualified Appliances, Microwave, Plumbed For Ice Maker, Refrigerator, Self Cleaning Oven
- Standard status
- Active
- APN
- see tax records
- Size
- 4,750 SF
Taxes and HOA fees
- Tax Year
- 2026
- Tax Description
- see tax records
Utilities
- Sewer type
- Public Sewer
- Heating system
- Zoned, Electric (Heating), Heat Pump (Heating)
- Cooling system
- Heat Pump, Central Air, Zoned, Electric
- Water source
- Public
Building Details
- Year built
- 2025
- Floors in Building
- 3
- Number of units
- 2
- Flooring type
- Tile, Hardwood, Carpet
- Building materials
- Fiber Cement
- Roof type
- Shingle
- Additional Structures
- Storage
Listing agent Johnny Chappell License #267248 (919) 737-2247
Listing office Compass -- Raleigh 3800 Glenwood Avenue Suite 150, Raleigh, NC (919) 726-6548
Listing date Aug 12, 2025
MLS# 10115231
Listing URL
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.
HighLights
- Move‑in‑ready duet‑style homes with flexible layouts exceeding 2,400 sq ft across three levels.
- Prime location between Downtown Raleigh and Cary, offering easy access to Fenton, Lake Johnson, and RTP.
- Designed with 3 bedrooms, 3.5 baths, open living areas, sleek kitchens, and modern finishes.
- Top floor flex space suitable for a home office, media room, or guest suite.
- Equipped with modern amenities including quartz counters, stainless steel appliances, and walk‑in closets. Energy‑efficient features included.
- Outdoor spaces include patios and green pockets, plus proximity to Raleigh's cultural and community hubs.
Overview
Located between Downtown Raleigh and Cary, this property offers a blend of contemporary design and a connected location. The available layouts offer more than 2,400 square feet of space across three levels. Each plan lives like a single-family home, featuring three bedrooms, three and a half baths, and open living areas. The kitchens are sleek, and the finishes are fresh. The top floor flex space provides options for a work-from-home setup, a media retreat, or a private guest suite. Patios and green pockets offer outdoor space. The property is located steps from everyday essentials and minutes from Lake Johnson Park, NC State, The Museum of Art, The Fairgrounds, and Downtown or Cary's entertainment core. The property is suitable for both homeowners and investors. Floor plans include 3-4 bedrooms and can be modified to meet buyer's needs. The property offers metro energy with lakeside ease.
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $105.5k | $22.20 |
| − Vacancy | −$17.7k | −$3.73 |
| EGI | $87.7k | $18.47 |
| − OpEx | −$21.9k | −$4.62 |
| NOI | $65.8k | $13.85 |
4,750 SF · lease $22.20/SF/yr · vacancy 16.80% · expense 25.00%
Alternative Uses
Best Use
Office B
$940.0K
$822.5K – $1.10M
NOI $65,801 @ 7.0% cap · market cap 6.27%
Second Best
Mixed Use
$939.0K
$821.6K – $1.10M
NOI $65,728 @ 7.0% cap · market cap 6.26%
Theoretical Best
Specialty Retail
$1.31M
$1.14M – $1.52M
NOI $91,378 @ 7.0% cap · market cap 8.70%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Live-work space
Location Insight
- Map
- Local Demand
- City
- Raleigh
- County
- Wake
- State
- North Carolina
- Longitude
- -78.719415
- Latitude
- 35.777477
Nearby Similar for Sale
FAQs
What type of property is this?
Live-work space - Contemporary design near Downtown Raleigh and Cary with flexible layouts.
Where is this live-work space located?
The property is located at 5061 Lundy Drive Raleigh, NC.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: Move‑in‑ready duet‑style homes with flexible layouts exceeding 2,400 sq ft across three levels.; Prime location between Downtown Raleigh and Cary, offering easy access to Fenton, Lake Johnson, and RTP.; Designed with 3 bedrooms, 3.5 baths, open living areas, sleek kitchens, and modern finishes.
