517 Buck Jones Road
Raleigh, NC 27606
- – beds
- – baths
- – sqft
- ~5 acre lot
- – on site
Prime Development Opportunity with Immediate Cash Flow in Raleigh, NC This exceptional 3186 sq. ft. property features a fully renovated Midcentury home, currently operating as a successful short-term rental, generating steady cash flow while your development project progresses. The site has ASR approval for a 64-unit multifamily apartment development, with the flexibility to convert to a 54-unit townhome community with minor modifications to the approved ASR. Strategic Location: Situated in a Frequent Transit Area, this property supports higher density and offers significant growth potential in Raleigh's booming market. Market Insights: Townhomes in the area are selling for $589K per unit, highlighting strong demand and the high value of this site. Affordable Housing Component: The project requires 20% of units (beyond the first 12) to meet affordability criteria, aligning with the growing demand for attainable housing while enhancing community impact and project appeal. Inclusions: The sale includes Lot 5323 Barclay Dr., Raleigh, NC. This is a rare opportunity to capitalize on Raleigh's thriving market, delivering a high-impact project in a prime location with unmatched accessibility to major hubs, all while benefiting from immediate rental income from the renovated Midcentury home
Last checked:
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Last updated May 17, 2025
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MLS# 10097033 —
The Building
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Building Area Units:Square Feet
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Above Grade Finished Area Units:Square Feet
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Below Grade Finished Area Units:Square Feet
Room Dimensions
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Living Area Units:Square Feet
Location
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Directions:From Crossroads area, turn right onto Buck Jones. Pass 1st roundabout and continue straight. Property is on the right opposite all Saints Orthodox Church. Driveway is immediately past the black mailbox. Down Slope Driveway
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Latitude:35.775571
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Longitude:-78.731601
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Coordinates:-78.731601, 35.775571
The Property
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Property Type:Land
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Lot Features:City Lot
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Property Subtype:Unimproved Land
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Current Use:Single Family
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Possible Use:Development
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Lot Size Acres:4.84
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Lot Size Area:4.84
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Lot Size Dimensions:see survey
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Lot Size SqFt:210830.4
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Lot Size Units:Acres
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Road Frontage Type:City Street
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Road Surface Type:Asphalt
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View:true
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View:Trees/Woods
Listing Agent
- Contact info:
- Agent phone:
- (919) 987-5068
- Office phone:
- (704) 412-2804
Taxes
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Tax Annual Amount:10925
The Listing
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Special Listing Conditions:Standard
Utilities
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Utilities:Cable Available
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Sewer:Public Sewer
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Water Source:Public
Schools
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Elementary School:Wake - Adams
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Middle Or Junior School:Wake - Lufkin Road
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High School:Wake - Athens Dr
The Community
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Subdivision Name:Roylene Acres
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Association:false
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Pool Private:false
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Bike Score®
Provided by WalkScore® Inc.
Bike Score evaluates a location's bikeability. It is calculated by measuring bike infrastructure, hills, destinations and road connectivity, and the number of bike commuters. Bike Scores range from 0 (Somewhat Bikeable) to 100 (Biker’s Paradise).
Transit Score®
Provided by WalkScore® Inc.
Transit Score measures a location's access to public transit. It is based on nearby transit routes frequency, type of route (bus, rail, etc.), and distance to the nearest stop on the route. Transit Scores range from 0 (Minimal Transit) to 100 (Rider’s Paradise).
Soundscore™
Provided by HowLoud
Soundscore is an overall score that accounts for traffic, airport activity, and local sources. A Soundscore rating is a number between 50 (very loud) and 100 (very quiet).
Sale history
| Date | Event | Source | Price | % Change |
|---|---|---|---|---|
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5/16/25
May 16, 2025
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Listed / Active | DMLS | $2,380,890 | 585.1% (158.0% / YR) |
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9/2/21
Sep 2, 2021
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DMLS | $347,500 |
