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6101 & 6019 Hillsborough St 1.7 Acres of Residential Land in Raleigh, NC 27606
Investment Highlights
- Ready for vertical construction.
Executive Summary
56 multifamily units in 5 stories near NC State and the Lenovo Center. 15 mins to downtown Raleigh and RDU.
Unit Mix: 33 One-Bedrooms and 23 Two-Bedrooms
Served by City of Raleigh water and sewer
Fully approved, build-ready
1.7 Acres +/-
Zoned NX-5-GR-CU (Neighborhood Mixed Use)
Data Room Click Here to Access
- Market Information
- Operating and Financials
Financial Summary (Pro Forma - 2027) Click Here to Access |
Annual | Annual Per AC |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro Forma - 2027) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per AC | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per AC | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per AC | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per AC | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per AC | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per AC | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per AC | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per AC | $9.99 |
Property Facts
| Sale Type | Investment | Property Subtype | Residential |
| No. Lots | 1 | Proposed Use | |
| Property Type | Land | Total Lot Size | 1.70 AC |
| Zoning | NX-5-GR-CU - Neighborhood Mixed Use | ||
| Sale Type | Investment |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Residential |
| Proposed Use | |
| Total Lot Size | 1.70 AC |
| Zoning | NX-5-GR-CU - Neighborhood Mixed Use |
1 Lot Available
Lot
| Lot Size | 1.70 AC |
| Lot Size | 1.70 AC |
The Property is situated with easy access to I-40 and I-440, NC State University, and downtown Raleigh (the State Capitol). Nearby Crossroads Plaza boasts Best Buy, Dick’s Sporting Goods, Petco, HomeGoods, First Watch etc.
Description
The Property will include a variety of unit layouts, with 25 (44%) being one-bedroom, one-bath units of almost 900 SF. Eight other one-bedroom units will be luxuriously large at over 1,200 SF. Two-bedroom, two-bath units will range in size from 1,150+/- SF to 1,550+/- SF. All units will boast nine-foot ceilings, fully equipped kitchens with stainless steel appliances, brushed nickel hardware, and granite countertops. Kitchen appliances will include a refrigerator/freezer, stove/range, dishwasher, disposal, and microwave oven. Each unit will have a washer and dryer. Flooring will include vinyl plank in the kitchens, living rooms, and dining areas, tile in bathrooms, and plush carpet in bedrooms. Canvas at Pack Place will also include two elevators, a high-end lounge with fireplace, a fitness facility, and package delivery room on the first floor. Outdoor amenities will include a swimming pool and a roofed bicycle storage area. On-site parking will be provided for 83 vehicles, calculated at 1.25 spaces for each one-bedroom unit and 1.75 spaces for each two-bedroom unit.
Property Taxes
| Parcel Numbers | Total Assessment | $1,517,879 (2025) | |
| Land Assessment | $1,484,002 (2025) | Annual Taxes | ($1) |
| Improvements Assessment | $33,877 (2025) | Tax Year | 2027 |
Property Taxes
Contact the Sale Advisor
6101 & 6019 Hillsborough St