850 Athens Drive
Raleigh, NC 27606Rare opportunity for a classic brick 3-unit apartment building near downtown Raleigh and NC State University. Located on a 0.55 acre lot zoned R6. The building features two 3 bedroom, 1 bath units and one 2 bedroom, 1 bath unit. The 2 bed unit is currently empty to allow for showings with an asking price of $1200/month. Left unit (850) rents for $1350 & expires 1/31/2027. Right unit (854) rents for $1260 & expires 8/31/2026. Upside for the new owner includes possible redevelopment, light renovation of existing units to increase rent, and building an ADU, pending city approval and land use requirements. Or new investors have a chance to live in the empty unit while building equity. Regardless of your strategy don't miss out on the chance to stake your claim to Raleigh's ever-growing real estate market!
$659,000
8 bedrooms
3 full bathrooms
0.55 acres
2,727 square feet
$242 per square foot
- Exterior Features
- Interior Features
- Property Features
- Construction Materials Brick
- Lot Size Acres 0.55
- Structure Type Triplex
- Above Grade Finished Area 2,727
- Appliances Electric Water Heater, Microwave, Range, Refrigerator, Stainless Steel Appliance(s)
- Cooling Window Unit(s)
- Cooling Y/N Yes
- Flooring Hardwood, Tile
- Heating Electric, Radiant Floor
- Heating Y/N Yes
- Rooms Total 8
- Tax Annual Amount 3768.22
- Water Source Public
- Year Built 1965
Additional Property Information
- TypeTriplex
- Built1965
- NeighborhoodNot in a Subdivision
- CountyWake
- AreaRaleigh
- Elementary SchoolWake - Farmington Woods
- Middle SchoolWake - Martin
- High SchoolWake - Athens Dr
Listing courtesy of Berkshire Hathaway HomeService. © 2026 Triangle MLS, Inc. of North Carolina. All Rights Reserved. Information deemed reliable but not guaranteed.
Property location
Monthly payment calculator
Find your amountSchedule a Tour
Ready for a tour of this house? You can either schedule an in-person walkthrough, or one of our agents can take you on a virtual tour via video call.
Similar Properties
©2026 Triangle MLS, Inc. of North Carolina. All rights reserved. Brokers make an effort to deliver accurate information, but buyers should independently verify any information on which they will rely in a transaction. The listing broker shall not be responsible for any typographical errors, misinformation, or misprints, and they shall be held totally harmless from any damages arising from reliance upon this data. This data is provided exclusively for consumers’ personal, non-commercial use. Listings marked with an icon are provided courtesy of the Triangle MLS, Inc. of North Carolina, Internet Data Exchange Database. Data last updated 2026-05-22T16:21:30.000Z.