1118 Boyer St, Raleigh, NC 27610

Profitable Investment Opportunity: Off-Market Listing: Resideline estimates that this property can be rented on Airbnb for an average of $202 per day and long-term for an average of $1,730 per month, based on similar listings in the area. Estimated short-term cap rate of 2.4%. Estimated long-term cap rate of -1.6%. Huge .25 acre lot between Downtown Raleigh and WakeMed Hospital. Per UDO, potential to subdivide into two lots with a duplex and duplex adu on each lot, 8 units! Charming historic bungalow with large master bedroom, open living room and nice kitchen with island. Walkable to Oakwood/Person Street, Downtown Raleigh, Transfer Co Food Hall, museums, and art galleries. Minutes away from Downtown Raleigh, WakeMed, 5 minute drive to Glenwood South and 10-15 minute drive to NC State, Village District, or North Hills. Walk to the library and community center. RX-4 zoning with development potential on Raleigh's soon to be built Bus Rapid Transit in an area with lots of development. Several large projects are in planning and new private development is currently underway with new restaurants. Lots of new homes in the area with newer homes selling for $750,000 and up. RX-4 Zoning allows apartments, residential mixed use, townhomes, or subdivide into 2-4 lots with duplexes on each. See photo's for renderings for an apartment building. Buyer to verify zoning conditions with City and no warranties are made by any agents, listing firm, or owner as to the zoning or allowed uses. Incredible investment opportunity in a developing area!