1508 N Alston Avenue
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.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | 2-4 Units |
| Price: | $525,000 |
| No. of Units: | 4 |
| Year Built: | 1950 |
| Opportunity Zone: | No |
| Price per unit: | $131,250 |
| Property Website | Click Here |
| Number of Bedrooms: | 4 |
| Number of Bathrooms: | 4 |
ID: 3yd-TRIANGLE-10202773
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