$2,500,000
3 Beds
2 Baths
729 SqFt
0.49 Acre Lot
21,344 Sqft Lot
Status Active
Property Type Single Family Residence
Price Type
Year Built 1952
Neighborhood Home Acres
Days on Website 101

Property Map

$2,500,000 – 516 Rush Street, Raleigh, NC 27610

Street View

Courtesy of Compass — Raleigh, Marianne Mansour.

Description

Discover an exceptional investment opportunity with three contiguous lots on Rush and Marion Streets, offering both immediate income and significant growth potential. 516 Rush St. is a three-bedroom property currently operating as a weekly rental. Zoned RX-3, with potential for a 3-story building with some commercial use. Adjacent to it is a newly constructed 10-room, 10-bath duplex on Marion St., slated for completion in December 2024, with projected monthly income of $6,500.00 – $7,000.00. Together, the three parcels span approximately 1.67 acres. Located near the growing Garner and CrossLink Roads corridor and the popular Crosstowne Subdivision, this property is perfectly positioned for future appreciation. For more details, refer to MLS listing #10047059 / 2806 Marion. Owner financing is available.

Property Details and Features

Property Access

  • Road Surface Type: “Asphalt”

Bathrooms

  • 2 full bathrooms
  • 2 total bathrooms
  • 2 total bathrooms

Bedrooms

  • 3 bedrooms

Building

  • Building Area Total: 729
  • Building Area Units: Square Feet
  • Construction Materials: “Concrete”
  • Living Area Units: Square Feet
  • Living Area: 729
  • Structure Type: “Site Built”
  • Year Built: 1952

Cooling

  • Cooling: “Heat Pump”
  • Cooling Included

Floors

  • Flooring: “Hardwood”, “Linoleum”

Foundation

  • Foundation Details: “Block”

Heating

  • Heating: “Electric”, “Forced Air”
  • Heating Included

Listing

  • Days On Market: 99
  • Lease Term: Negotiable

Location

  • Subdivision Name: Home Acres

Lot

  • Lot Features: “Corner Lot”
  • Lot Size Acres: 0.49
  • Lot Size Area: 21344.4
  • Lot Size Square Feet: 21344.4
  • Lot Size Units: Square Feet
  • Parcel Number: 1702940701

Parking

  • Parking Features: Additional Parking
  • Open Parking

Property

  • Property Sub Type: Single Family Residence

Roof

  • Roof: “Shingle”

Schools

  • High School: Wake – Middle Creek
  • Middle Or Junior School: Wake – North Garner
  • Elementary School: Wake – Smith

Sewer

  • Sewer: “Public Sewer”

Taxes

  • Tax Annual Amount: 1565

Utilities

  • Utilities: “Cable Available”, “Electricity Connected”, “Natural Gas Available”, “Sewer Connected”, “Water Connected”
  • Water Source: “Public”

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