310 Culvert ST, Apex, NC 27502
310 Culvert ST, Apex, NC 27502
310 Culvert ST, Apex, NC 27502
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Listed by LPT Realty, LLC
$1,288,000
Est. payment /mo
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8 Beds
8 Baths
4,032 SqFt
New

310 Culvert ST Apex, NC 27502

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Steele Residential

Steele Residential

+1(919) 971-0346

UPDATED:

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 | Fully Occupied Quadplex | 1031 Exchange Opportunity | Redevelopment Potential Rare opportunity to acquire a fully occupied, income-producing quadplex in the heart of Downtown Apex, offering immediate cash flow, valuable land, and multiple paths to maximize your investment. Ideally suited for 1031 Exchange buyers, developers, and long-term investors, 310 Culvert Street represents a compelling covered land opportunity: generate rental income from four existing units while preserving the flexibility to pursue future redevelopment. The property's investment potential extends well beyond its current use. A proposed five-unit condominium development has already completed initial review with the Town of Apex, providing a valuable head start for investors considering a for-sale or build-to-rent project. Alternatively, the property presents the potential for a luxury single-family redevelopment in one of the Triangle's most desirable downtown communities, subject to applicable approvals. Located just minutes from historic Salem Street, with convenient access to shopping, dining, entertainment, and major Triangle employment centers, this property combines the appeal of an established downtown location with the opportunity to capitalize on Apex's continued growth. Four existing income-producing units. Five-unit condominium development potential. One exceptional downtown investment opportunity. Whether your strategy is to buy and hold, complete a 1031 Exchange, or reposition the property for future development, 310 Culvert Street offers a rare combination of current income, location, and long-term upside. Buyer to verify rental income, zoning, development feasibility, municipal approvals, and 1031 Exchange eligibility. 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

Doorify MLS

NEARBY SCHOOL & BUSINESS

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Steele Residential

Steele Residential

Real Estate Firm License ID: C28905

+1(919) 971-0346

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310 Culvert ST