517 Buck Jones, Raleigh, Wake

$2,380,890
Raleigh, NC
4.8 acres

517 Buck Jones
Raleigh, NC 27606
United States

Active
This listing is provided by NorthGroup Real Estate, Inc..

Prime Development Opportunity with Immediate Cash Flow in Raleigh, NC This exceptional 3186 sq. ft. property features a fully renovated Midcentury home, currently operating as a successful short-term rental, generating steady cash flow while your development project progresses. 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. Strategic Location: Situated in a Frequent Transit Area, this property supports higher density and offers significant growth potential in Raleigh's booming market. Market Insights: Townhomes in the area are selling for $589K per unit, highlighting strong demand and the high value of this site. Affordable Housing Component: The project requires 20% of units (beyond the first 12) to meet affordability criteria, aligning with the growing demand for attainable housing while enhancing community impact and project appeal. Inclusions: The sale includes Lot 5323 Barclay Dr., Raleigh, NC. This is a rare opportunity to capitalize on Raleigh's thriving market, delivering a high-impact project in a prime location with unmatched accessibility to major hubs, all while benefiting from immediate rental income from the renovated Midcentury home

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Last updated
May 18, 2025
MLS ID / MOPLS ID
10097033
Address

517 Buck Jones
Raleigh, NC 27606

Acreage
4.84
MLS ID / MOPLS ID
10097033
Price
$2,380,890

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