517 Buck Jones Road new to site Save Request In-Person Tour Request Virtual Tour
Raleigh,NC 27606
Key Details
Property Type Vacant Land
Sub Type Single Family
Listing Status Active
Purchase Type For Sale
Subdivision Roylene Acres
MLS Listing ID 10097033
Annual Tax Amount $10,925
Lot Size 4.840 Acres
Property Sub-Type Single Family
Property Description
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
Location
State NC
County Wake
Exterior
Utilities Available Cable Available,Cable Connected,Electricity Available,Natural Gas Connected,Septic Connected,Sewer Available,Water Available,Water Connected
View Y/N Yes
View Trees/Woods
Building
Lot Description City Lot
Sewer Public Sewer
Water Public
Schools
Elementary Schools Wake - Adams
Middle Schools Wake - Lufkin Road
High Schools Wake - Athens Dr
Others
Special Listing Condition Standard