$1,288,000
About this home
310 Culvert Street | Downtown Apex, NC Prime Covered Land Investment | 1031 Exchange Opportunity | Redevelopment Potential Downtown Apex Shovel-Ready Development Site with Covered Income | Prime 1031 Exchange Opportunity Rare and exceptional opportunity to acquire a high-yield "covered land play" in the absolute heart of Downtown Apex. Perfect for 1031 Exchange buyers, boutique builders, and forward-thinking investors, 310 Culvert Street offers immediate, stable cash flow from four existing fully occupied units while providing a de-risked, pre-vetted path to immediate or future multi-family redevelopment. The "Covered Land" & Development Premium: Unlike standard multi-family assets tied strictly to current rental math, this property's true value lies in its 0.4-acre lot and advanced municipal positioning. A proposed five-unit luxury condominium development has already completed its initial preliminary review with the Town of Apex. This represents a massive savings in both time and capital for the next owner, effectively bypassing 6 to 9 months of initial bureaucratic red tape and zoning delays for a future for-sale or high-end build-to-rent project. 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.
Property details
- MLS
- Doorify MLS
- MLS #
- 10197879
- Property type
- Quadruplex
- Subdivision
- Town Lot
- Status
- Active
- Days on market
- 8
- On market date
- October 12, 2026
- Stories
- N/A
- Total bathrooms
- 6
- Garage spaces
- N/A
- Parking spaces
- 84
- Lot size
- 0.4 acres
Location
Get directions →Nearby schools
Within 10 miles. School directory data from the National Center for Education Statistics (NCES), accessed via the Urban Institute Education Data API. Local Score is calculated by INNOVATE Real Estate; where a state rating is shown, it comes from that state's own official school report card.
- Enrollment
- 659
- Student:teacher ratio
- 14.3:1
- District
- Wake County Schools
- Enrollment
- 921
- Student:teacher ratio
- 17.4:1
- District
- Wake County Schools
- Enrollment
- 2,413
- Student:teacher ratio
- 19.8:1
- District
- Wake County Schools
Walkability
Blended score for Apex's center, calculated by INNOVATE Real Estate from two sources: the EPA's National Walkability Index (street network, transit, land-use mix) and Google Places amenity data (what's actually reachable on foot from this point). 60% EPA National Walkability Index + 40% nearby-amenity density (Google Places).
Market position
How this listing compares to current activity in Apex, from live MLS data.
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Data source: Listing information provided by Doorify MLS via Trestle/CoreLogic. Last updated 3 days ago.
Information herein deemed reliable but not guaranteed; all measurements, school assignments, HOA fees, taxes, and feature lists are approximate and should be independently verified. Equal Housing Opportunity.