310 Culvert Street
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.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | 2-4 Units |
| Price: | $1,288,000 |
| No. of Units: | 4 |
| Year Built: | 1985 |
| Lot Size: | 4,032.00 Sq ft |
| Opportunity Zone: | No |
| Price per unit: | $322,000 |
| Property Website | Click Here |
| Number of Bedrooms: | 8 |
| Number of Bathrooms: | 6 |
ID: 3yd-TRIANGLE-10197879
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