ATTENTION DEVELOPERS! Rare Duplex offered in the heart of Raleigh near HWY 64 and Interstate 40 by Wake Med Hospital. The home resides in the newly rezoned high density special transit district for New Bern Ave (Hwy 64) where the city is building a multi million transit upgrade for HWY 64 to make the city more accessible. This home currently is a duplex in need of repair and home is uninhabitable. However with the new zoning it is approved for up to 16 units and could be torn down and a small apartment complex or up to 12 townhomes could be put in its place. If a developer were to acquire surrounding properties then a much larger high density project could be green lit by the city. The current owners have made significant upgrades with over $40K in renovations the last 10 years including remodeling both units and upgrading HVAC on both units in the last 2 years. No HOA helps you save on monthly expenses and retain full control over the property. This property boasts a proven track record and excellent rental history, making it an ideal opportunity to fix and flip or develop for savvy investors. A 3bd/2bath apartment or townhome would likely rent for $1900-$2000 a month in this location based on current market comps.
| 22 hours ago | Listing updated with changes from the MLS® | |
| yesterday | Listing first seen on site |
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