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Liliana Arellano-Perez

lilianancrealtor@gmail.com +1(984) 261-3025

Listed by LPT Realty, LLC

$ 1,288,000

Est. payment | -/mo

8 Beds

8 Baths

4,032 SqFt

Save

$ 1,288,000

Est. payment | -/mo

Save

8 Beds

8 Baths

4,032 SqFt

Key Details

Property Type Multi-Family

Sub Type Quadruplex

Listing Status Active

Purchase Type For Sale

Square Footage 4,032 sqft

Price per Sqft $319

Subdivision Town Lot

MLS Listing ID 10197879

Bedrooms 8

Full Baths 4

Half Baths 4

HOA Y/N No

Year Built 1985

Annual Tax Amount $16,485

Lot Size 0.400 Acres

Acres 0.4

Property Sub-Type Quadruplex

Source Doorify MLS

Land Area 4032

Property Description

310 Culvert Street | Downtown Apex, NC Prime Covered Land Investment | 1031 Exchange Opportunity | Redevelopment Potential Downtown Apex Shovel-Ready Development Site with Covered Income | Prime 1031 Exchange Opportunity Rare and exceptional opportunity to acquire a high-yield "covered land play" in the absolute heart of Downtown Apex. Perfect for 1031 Exchange buyers, boutique builders, and forward-thinking investors, 310 Culvert Street offers immediate, stable cash flow from four existing fully occupied units while providing a de-risked, pre-vetted path to immediate or future multi-family redevelopment. The "Covered Land" & Development Premium: Unlike standard multi-family assets tied strictly to current rental math, this property's true value lies in its 0.4-acre lot and advanced municipal positioning. A proposed five-unit luxury condominium development has already completed its initial preliminary review with the Town of Apex. This represents a massive savings in both time and capital for the next owner, effectively bypassing 6 to 9 months of initial bureaucratic red tape and zoning delays for a future for-sale or high-end build-to-rent project. Current owner had a 5 unit condo plans and renderings that have preliminary been reviewed by the Town of Apex. This is a huge savings in both time and money for next owner looking to do a redevelopment with best of use of land in mind.

Location

State NC

County Wake

Community Town Lot

Area 0.4

Zoning HD MF

Interior

Interior Features Bathtub/Shower Combination, Chandelier, Laminate Counters

Cooling Central Air

Flooring Carpet, Tile, Wood

Equipment None

Fireplace No

Appliance Range, Microwave, Dishwasher

Laundry Washer Hookup, Laundry Closet, Electric Dryer Hookup

Exterior

Exterior Feature Other

Parking Features Open

Garage Spaces 84.0

Pool None

Community Features Street Lights, Suburban

Utilities Available Cable Available, Electricity Available, Electricity Connected, Natural Gas Available, Natural Gas Connected, Phone Available, Sewer Available, Sewer Connected, Water Available, Water Connected

View Trees/Woods, See Remarks

Roof Type Shingle

Total Parking Spaces 84

Garage No

Building

Lot Description Back Yard, Few Trees, Front Yard

Story Two

Foundation Brick/Mortar, Concrete Perimeter, Pillar/Post/Pier, Raised

Water Public

New Construction No

Schools

Elementary Schools Wake - Apex Elementary

Middle Schools Wake - Apex Middle

High Schools Wake - Apex High

Others

Senior Community No

Tax ID 074219501639000 0062363

Security Features Fire Alarm

Acceptable Financing Cash, Conventional, Other, 1031 Exchange

Listing Terms Cash, Conventional, Other, 1031 Exchange

Schools and Properties Nearby

Find out why customers are choosing LPT Realty to meet their real estate needs

+1(984) 261-3025

lilianancrealtor@gmail.com

Learn More About LPT Realty

310 Culvert ST Apex, NC 27502