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Raleigh, NC 27601Strategically positioned along one of Raleigh's most actively evolving urban corridors, this prominent OX-3 zoned corner property offers a rare opportunity to acquire a four-unit structure with exceptional mixed-use redevelopment, adaptive reuse, office conversion, residential repositioning, or future infill construction potential just minutes from Downtown Raleigh. Existing improvements require substantial rehabilitation and the property is being sold as-is, creating an ideal canvas for investors, developers, and visionary buyers seeking a high-visibility asset with multiple long-term value creation paths. The property is further strengthened by immediate adjacency to recently completed new home and condominium development and sits directly within the trajectory of significant public and private corridor investment, including New Bern Avenue Bus Rapid Transit infrastructure, expanding transit-oriented development momentum, rising multifamily and mixed-use demand, and increasing institutional growth connecting Downtown Raleigh, WakeMed, workforce housing nodes, and surrounding commercial services. With strong corridor presence, strategic downtown proximity, and continued redevelopment pressure throughout the surrounding area, this site represents a compelling opportunity to capitalize on one of Raleigh's emerging gateway growth corridors. Buyer to verify all intended uses with City of Raleigh. See photos of early plans of potential four-unit townhome building not yet city approved.
$450,000
3 bedrooms
4 full bathrooms
0.11 acres
2,134 square feet
$211 per square foot
- Exterior Features
- Interior Features
- Property Features
- Construction Materials Vinyl Siding
- Lot Size Acres 0.11
- Structure Type Multi Family, Site Built
- Above Grade Finished Area 2,134
- Cooling Multi Units
- Cooling Y/N Yes
- Flooring Hardwood, Other
- Heating See Remarks
- Rooms Total 1
- Tax Annual Amount 5030.8
- Water Source Public
- Year Built 1983
Additional Property Information
- TypeQuadruplex
- Built1983
- NeighborhoodNot in a Subdivision
- CountyWake
- AreaRaleigh
- Elementary SchoolWake - Powell
- Middle SchoolWake - Ligon
- High SchoolWake - Broughton
Listing courtesy of Redfin Corporation. © 2026 Triangle MLS, Inc. of North Carolina. All Rights Reserved. Information deemed reliable but not guaranteed.
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