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Additional details

The Ease Group

theeasegroupre@gmail.com +1(919) 307-6824

Listed by Keller Williams Elite Realty

$ 525,000

Est. payment | -/mo

4 Beds

4 Baths

0.51 Acres Lot

Save

$ 525,000

Est. payment | -/mo

Save

4 Beds

4 Baths

0.51 Acres Lot

Key Details

Property Type Other Types

Sub Type Ranch

Listing Status Active

Purchase Type For Sale

Subdivision Not In A Subdivision

MLS Listing ID 10202773

Bedrooms 4

Full Baths 4

HOA Y/N No

Year Built 1950

Annual Tax Amount $3,705

Lot Size 0.510 Acres

Acres 0.51

Property Sub-Type Ranch

Source Doorify MLS

Property Description

PRIME DEVELOPMENT OPPORTUNITY LAND AND RENTAL PORTFOLIO MINUTES FROM DOWNTOWN DURHAM! Exceptional investment and development opportunity in one of Durham's growing areas! This portfolio includes 1508, 1510, and 1512 N. Alston Avenue, along with 804 Lee Street, offering exciting possibilities for investors, builders, and developers. The N. Alston Avenue properties currently feature two duplexes with rental income of $625 per month per side, offering existing income while exploring future development opportunities. A feasibility study and preliminary site plan are available in the listing documents, outlining several potential development options prior to the approval of SCAD (Simplifying Codes for Affordable Development), including: An 18 unit apartment community. A 7unit townhome community. Subdivision into nine buildable lots. With the adoption of SCAD, additional density and development opportunities may now be possible, creating even greater potential for this property. Buyers are encouraged to review the attached SCAD information and verify development possibilities with the City of Durham. Conveniently located just minutes from vibrant downtown Durham, major highways, shopping, dining, and surrounding areas experiencing significant growth and redevelopment. Whether you're looking to expand your investment portfolio or capitalize on Durham's continued growth, this is an opportunity worth exploring! Bring your vision and discover the possibilities this unique land portfolio has to offer.

Location

State NC

County Durham

Community Not In A Subdivision

Area 0.51

Zoning RM-12

Interior

Cooling Other

Flooring Carpet

Fireplace No

Exterior

Parking Features See Remarks

Roof Type Shingle

Garage No

Building

Lot Description Corner Lot, Open Lot

Story One

Water Public

New Construction No

Schools

Elementary Schools Durham - Eastway Elementary

Middle Schools Durham - Durham School Of The Arts

High Schools Durham - Northern High

Others

Tax ID 110954

Acceptable Financing Cash, Conventional, 1031 Exchange

Listing Terms Cash, Conventional, 1031 Exchange

Nearby Locations

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(919) 307-6824

theeasegroupre@gmail.com

1508 N Alston AVE Durham, NC 27701