Triangle Multi-family Home Search
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Triangle Multi-Family Homes - Including Duplexes, Triplexes & Quads
Please scroll to the bottom of this page for a complete list of available inventory in the Raleigh, Durham, Chapel Hill and surrounding areas!
Modern duplex located in Durham, NC
Multi-family homes can be a great investment, especially for those who are new to real estate investing. These types of properties are easy to understand for new investors. You expect that each unit will have its own entrance, kitchen, bathroom, and utility metering - in other words, the same amenities you’d find in a single-family home.
Investing in a duplex, triplex, or four-plex (quad) is our focus in this article because these types of properties are considered residential real estate and that makes financing a much simpler task than applying for a commercial real estate loan.
Buying a multi-family home offers you a host of options for renting out the units. Some people choose to live in one and rent out the other(s). Other families use them to house extended family, aging parents or adult children, for example. Family members keep their independence, but any help needed is just a few steps away!
There are both pros and cons to these types of units, as with any real estate investment. Individual investors will need to consider many factors when making a decision. On the plus side:
Easier to finance
Beginning investors will usually have an easier time with financing in residential units of four and less. In fact, most lenders treat these smaller multifamily units as if they were a single-family home. They are seen as a lower-risk investment and thus more attractive to lenders.
More cash flow potential than single-family homes
An investment in multi-family properties will typically offer you a greater monthly cash flow than a single-family home. Having leases that renew on a 3, 6, 9, or 12-month cycle means that rents can be increased according to market demand.
Multi-family homes by definition have multiple rental revenue streams, so if you own a triplex, and one unit is empty, you are still collecting rents on the other two units to defray your mortgage costs. Typically, the combined rent from multi-family homes will beat out a single-family residence at the same price point.
As an additional bonus, multi-family homes have weathered past times of economic uncertainty better than almost any other type of real estate investment.
More people renting
As housing prices have risen around the country - this is certainly true in the Raleigh / Durham area - many people who would be traditional home buyers find themselves priced out of the market. Some of those families are delaying their home purchase plans for now and renting instead.
Favorable per-unit pricing
It might seem logical that the price for a multi-family home is just a multiple of an individual unit, but in fact, there are economies of scale. The second unit of a duplex, for example, may be only 50% more than buying a single unit. Because of this the cash flow on duplexes and triplexes are almost always better than the cash flow on a single family residence. Also, if one unit goes unrented then you still have the rent coming in from the other unit at least.
A quad located in Raleigh, NC
Property management more feasible
If you aren’t interested in full-time management of your multi-family property, the alternate route is to hire a property management company. That option can be cost-prohibitive for a single-family dwelling but makes more sense if you have multiple units in one property.
Extra advantages for “owner-occupied” investor
“House hacking” is not a cyber weapon, but an advantage that works for some investors. Here’s how it works: when you live in one of the units of the multifamily residence, it’s possible that those tenants will essentially pay your mortgage and expenses for you. Eliminating your housing costs is a huge win in anyone’s budget, especially with the way housing prices have increased in the Raleigh / Durham area in the past decade.
“Owner-occupied” properties may also have advantages for financing with lower interest rates and lower down payments.
However, there are some disadvantages to living on-site, which brings us to the downsides of buying multi-family homes.
You are the property manager and a co-tenant
If you are an owner-occupied property, remember that your tenants will be looking for you if they have any issues. It’s your door they will be knocking on in the middle of the night when the pipes burst.
And of course, you’re sharing walls and other common areas with your tenants. There may be more “community” in this endeavor than you’re comfortable with, so keep that in mind.
Plan on dedicating time to the property
Managing a multifamily unit requires a certain time commitment. You can mitigate this downside by hiring a property manager, but keep in mind you will still need to allocate some time as you, the owner, may need to visit the property for maintenance and repair requests.
As the owner, you will have to deal with individual leases, tenants of all personality types and communication styles. However, a multifamily property is still less work than managing a portfolio of single-family homes.
Competition on two fronts
When it comes to renting out your units, you will be competing with larger apartment complexes, some of which have all amenities - pools, tennis courts, fitness areas. You may not be able to command the highest rent in some areas that have multiple apartment complexes; on the other hand, some renters do prefer quieter spaces and are happy to forego the “extras.”
The other competition with multi-family units can come from more experienced investors. This sometimes shuts new investors out of the market completely. One strategy used by beginning investors is to partner with more experienced investors to learn the ropes.
Inconsistencies in income/expenses
Rental units can be inconsistent in terms of vacancies and maintenance expenses; even property taxes can vary wildly in some markets from year to year. We have seen taxes go up in the Raleigh / Durham area in the past 10 years, mainly due to property values increasing.
Up-front work needed
Nearly all multi-family units need a little work when you purchase them since most are not owner-occupied. One of the important things to do is to get an independent home inspector to look at the units before completing the purchase. That way if there is a major repair issue you can either negotiate with the seller or back out of the contract.
Though multi-family homes such as a duplex or triplex are rare compared to single-family homes, there is usually at least some inventory in the Triangle area. Below you will find a complete list of multi-family homes for sale in Durham, Chapel Hill, Raleigh, and the surrounding areas.
Make sure to select the appropriate county that you would like to search in, or contact us for help. We have experience in small multi-family properties and can help with assessing the property’s value.
To view multi-family homes for sale in a specific community, follow these links:
Multi-family Homes for Sale in the Raleigh / Durham Area
5 Units with 2 Full Bathroom, Common Kitchen, Roof Replaced within the last 5 Years, New HVAC Approx. Annual Rental Income: $23,000. Seller Financing Available!
- 2469288 MLS
- ACTIVE Status
SHOWING SATURDAY 1 OCTOBER AT 2PM! Recently remodeled investor special duplex. Cash-flowing! Minutes to Fort Bragg. Unit A in month to month lease at a rate of $755 per m...
- LP692150 MLS
- ACTIVE Status
SHOWING SATURDAY 1 OCTOBER AT 2 PM. Recently remodeled investor special duplex. Cash-flowing! Minutes to Fort Brag. 705 in term lease until August 31, 2023 at a rate of $...
- LP692152 MLS
- ACTIVE Status
Building in good condition. Realatively quiet neigbiorborhood. One tenant in process of eviction.
- 2476341 MLS
- ACTIVE Status
This duplex is part of a package of 4 duplexes being sold together. See MLS # 2469629. Seller will not separate & sell individually, no exceptions. Properties are tenant ...
- 2469660 MLS
- ACTIVE Status
*BACK ON THE MARKET* (Not seller's fault) INVESTOR ALERT! This 5 unit beauty needs your finishing touch. Features include: -new roof -new gutters -new shutters & plante...
- 2442251 MLS
- ACTIVE Status
Great investment opportunity! Perfect chance to add 4 duplexes to your portfolio. All units are currently rented out. Two have been updated with fresh paint and new LVP f...
- 2453089 MLS
- ACTIVE Status
Great investment opportunity! Perfect chance to add 4 duplexes to your portfolio. All units are currently rented out. Two have been updated with fresh paint and new LVP f...
- 2453090 MLS
- ACTIVE Status
Great investment opportunity! Perfect chance to add 4 duplexes to your portfolio. All units are currently rented out. Two have been updated with fresh paint and new LVP f...
- 2453092 MLS
- ACTIVE Status
Great investment opportunity! Perfect chance to add 4 duplexes to your portfolio. All units are currently rented out. Two have been updated with fresh paint and new LVP f...
- 2453093 MLS
- ACTIVE Status
$5,000 seller paid closing costs included! Beautifully renovated duplex! Come check out units 691 and 693 in expanding Henderson, NC! Completely renovated units, includin...
- 2468612 MLS
- ACTIVE Status
This duplex is part of a package of 3 duplexes being sold together. See MLS # 2469637. Seller will not separate & sell individually, no exceptions. Properties are tenant ...
- 2469663 MLS
- ACTIVE Status
Great cash-flowing duplex! Calling all investors. This duplex has a very solid rental history and demand. Unit A is vacant but was previously renting at $950 /mo. Unit B ...
- 2476652 MLS
- COMING SOON Status
Calling all investors! This is an excellent opportunity to add three rentals to your portfolio or purchase this package for future development. Three homes on 2 acres of ...
- LP690218 MLS
- ACTIVE Status
1 1/2 Story Home with 7 Unit and 2 Bathroom, Commons Kitchen, Rear Parking Lot, Central HVAC. Home is complete with Hardwood Floors. Annual Rental Income Approx. $32,200....
- 2469232 MLS
- ACTIVE Status
8 Units with 2 Full Bathrooms, Commons Kitchen, Hardwoods, Central HVAC, Newer Roof, and a Covered Front Porch and Rear Parking Lot. Approx. Annual Income: $36,800. Selle...
- 2469284 MLS
- ACTIVE Status
This duplex is part of a package of 3 duplexes being sold together. See MLS # 2469635. Seller will not separate & sell individually, no exceptions. Properties are tenant ...
- 2469662 MLS
- ACTIVE Status
Perfect for house hacking! Rent one side, live in the other to keep your mortgage affordable! Duplex with two 2BR, 1BA units with laundry room, kitchen and nice size livi...
- 2464636 MLS
- ACTIVE Status
Perfect for house hacking! Rent one side, live in the other to keep your mortgage affordable! Duplex with two 2BR, 1BA units with laundry room,kitchen and nice size livin...
- 2464772 MLS
- ACTIVE Status
This duplex is part of a package of 3 duplexes being sold together. See MLS # 2469632. Seller will not separate & sell individually, no exceptions. Properties are tenant ...
- 2469661 MLS
- ACTIVE Status
Nice Size Duplex....Unit 1 has 3 Beds and 1.5 Baths/ Unit 2 has 4 Bedrooms and 1.5 Baths. Duplex is Occupied. Level Flooring,,,,no steps on the inside...two or three to ...
- 2437806 MLS
- ACTIVE Status
Perfect for house hacking! Rent one side, live in the other to keep your mortgage affordable! Two story duplex with two 2BR, 1.5 BA units. Nice yard space that could easi...
- 2465337 MLS
- ACTIVE Status
Investor special! Duplex in great location within walking distance to Downtown Raleigh. Tear down and build new for highest and best use or renovate for immediate cash fl...
- 2472599 MLS
- ACTIVE Status
Investor special! Duplex in great location within walking distance to Downtown Raleigh. Tear down and build new for highest and best use or renovate for immediate cash fl...
- 2472603 MLS
- ACTIVE Status
Great investment opportunity in N Durham. Large +/- 1,734 sf brick ranch house with a 469 SF detached studio apartment. On a large lot zoned RU-5, this property has redev...
- 2468244 MLS
- ACTIVE Status
MOTIVATED SELLER! Highly desirable Raleigh Rd real estate! Property has 9 separate dwellings including a single dwelling home and 8 mobile homes. 8 are currently rented...
- 2469409 MLS
- ACTIVE Status
Updated and move-in ready 4 bedroom, 4 bathroom duplex near Downtown Clayton! Perfect for an investment opportunity or could potentially be used as in-law suite. Fresh pa...
- 2476473 MLS
- ACTIVE Status
Brick duplex with long term tenants . Excellent investment opportunity with location being a key factor in attractability. This duplex is located between Duke Park and Fi...
- 2423871 MLS
- ACTIVE Status
Brick duplex with long term tenants . Excellent investment opportunity with location being a key factor in attractability. This duplex is located between Duke Park and Fi...
- 2423874 MLS
- ACTIVE Status
Two Story Home located in the Historical District on a Corner Lot. Home is complete with Hardwood Floors, Newer Roof, Central HVAC, Covered Front Porch, Rear Parking Lot....
- 2469216 MLS
- ACTIVE Status
5~1 bed/1bath apartment homes. Each Apartment Has 1Br/1Ba, Large Living Room And Large Kitchen, Washer/Dryer hook-ups. Steady tenants.
- 2475974 MLS
- ACTIVE Status
Don't miss this opportunity to own investment property in Fuquay Varina. 2 units, both are 2BR/1.5BA with eat in kitchens with pantries. Large family rooms, large fenced...
- 2430303 MLS
- ACTIVE Status
Located close to shopping, schools, Ft. Bragg and more. 4 Units - all units 2 bedroom, 1 bath w/kitchen appliances included are range/refrigerator/stack washer/dryer. Plu...
- LP685283 MLS
- ACTIVE Status
Multiple use property! This home was once Dentist office and a family home and was most recently used as a Tri Plex. This would be a great property for a group home or re...
- 2476914 MLS
- ACTIVE Status
Brick Duplexes in the Heart of Town. Great Investment Opportunity! Tons of Potential! Owner says will only sale with White House behind these Duplexes. MLS #2462342
- 2462345 MLS
- ACTIVE Status
Over 2.5 acres with THREE homes on this one Parcel. PRIME location convenient to Garner, Raleigh, Wilson or Goldsboro!! All rented with great returns. Site one is stick b...
- 2439053 MLS
- ACTIVE Status
Nearly 2 Acre corner site with $31,200 in gross annual income makes this a savvy investment. Rare opportunity to acquire a valuable corner site with development potential...
- LP677468 MLS
- ACTIVE Status
RARE Opportunity in downtown Raleigh!!Investor special- 2 units in building,Building right next door is ALSO for sale (515 Hoke St)!Rental potential,valuable land,parking...
- 2445535 MLS
- ACTIVE Status
CALLING ALL INVESTORS!! Buyer decided not to purchase property- his loss is now Your Opportunity!!! Fantastic Quad-Plex in perfect Location- Fully Rented & Close to Every...
- 2440485 MLS
- ACTIVE Status
Amazing income opportunity at a fully renovated duplex in central Chapel Hill. Steps to the bus line, Booker Creek walking trails, Trader Joes, Whole Foods, the movies at...
- 2476478 MLS
- ACTIVE Status
Great investment opportunity that will not last long. This quadplex is on a beautiful lot featuring mature trees with each unit having its own backyard. Each unit has 2 ...
- 2455468 MLS
- ACTIVE Status
GREAT INVESTMENT OPPORTUNITY! Rentals will remain high in demand with the current interest rates and economy so this is a great time to get into the rental market! Recent...
- 2470369 MLS
- ACTIVE Status
Don't miss this incredible investment opportunity near Downtown Wake Forest! Featuring 2 ranch duplex units, so 4 units to rent! Units are currently on a month-to-month l...
- 2462124 MLS
- ACTIVE Status
18 Unit Brick Home featuring 4 Full Bath Rooms, Common Kitchen, Hardwoods Floors, Front Porch, Side/Rear Parking Lot and also a basement. Walking Distance to downtown Bur...
- 2469255 MLS
- ACTIVE Status
New construction side-by-side duplex, just five minute drive into down town Durham. Each unit offers 3 bedrooms, 2.5 baths spacious open kitchen/living room area, natural...
- 2453730 MLS
- ACTIVE Status
List price reflects package of 3 duplex investment properties, (6) total units. Seller will not separate & sell individually, no exceptions. Properties are tenant occupie...
- 2469637 MLS
- ACTIVE Status
All the charm of a historic home in one of Raleigh's most sought after districts, Glenwood-Brooklyn, nestled between Five Points and Glenwood South with Fletcher Park dir...
- 2475554 MLS
- ACTIVE Status
List price reflects package of 3 duplex investment properties, (6) total units. Seller will not separate & sell individually, no exceptions. Properties are tenant occupie...
- 2469635 MLS
- ACTIVE Status
Investor ALERT! Beautiful & hard to find Quad near NCSU and inside Raleigh Beltline (I-40,I-440). All 4 units have 2 bedrooms, 2 full baths, spacious livingroom with fire...
- 2462009 MLS
- ACTIVE Status
List price reflects package of 4 duplex investment properties, (8) total units. Seller will not separate & sell individually, no exceptions. Properties are tenant occupie...
- 2469629 MLS
- ACTIVE Status
List price reflects package of 3 duplex investment properties, (6) total units. Seller will not separate & sell individually, no exceptions. Properties are tenant occupie...
- 2469632 MLS
- ACTIVE Status
Great investment opportunity! Perfect chance to add 4 duplexes to your portfolio. All units are currently rented out. Two have been updated with fresh paint and new LVP f...
- 2445700 MLS
- ACTIVE Status
Great cash flow investment with some value add opportunity thru refined management practice. Property includes 19 single wide trailers, 4 double wide homes and 1 stick bu...
- LP691435 MLS
- ACTIVE Status
Endless opportunities in one of the most walkable neighborhoods in Raleigh! Single family home with accessory duplex dwelling in back. Lots of potential options with new...
- 2454143 MLS
- ACTIVE Status
Mobile home park has 24 lots. 18 homes are park owned. Park owner has paid for 4 more sewer lines to be added to the park. The park consist of 3 parcel 0702849,0700300,07...
- 2450838 MLS
- ACTIVE Status
Great investment opportunity to obtain a quad in the city of Durham. Each of the four units offers two spacious bedrooms and lots of storage, plus tons of cabinets and c...
- 2474584 MLS
- ACTIVE Status
Rare Investment Opportunity to own this newly-built 2-unit building right near UNC's campus! High-quality construction. LVP flooring, tile baths, well-appointed kitchens,...
- 2473915 MLS
- ACTIVE Status
This luxury new construction duet-style home has it all! An open concept interior provides flow, while a contemporary design prioritizes functionality. Minutes away from ...
- 2470400 MLS
- ACTIVE Status
Looking to house hack? Buy this awesome downtown Raleigh Triplex. Live in Unit 103 & collect rent on 101 and 102. Unit 101 & 102 are 2nd floor 4 bed 4 full bath units w/ ...
- 2475712 MLS
- ACTIVE Status
Rare opportunity to own a one of a kind rental. Could easily be owner occupied, on either side. Very large duplex offers five bedrooms, plus a bonus room in each unit. Lo...
- 2441559 MLS
- ACTIVE Status
READY TO GO! *UPDATED 6-UNIT (3 Duplex) INVESTMENT on approx 5 ACRES in CHAPEL HILL w/ LOW CHATHAM COUNTY TAXES & NO HOA! *Over 4,400 total sq ft & $6,650 in current mont...
- 2461223 MLS
- ACTIVE Status
Investment opportunity. Measurements, Photos, and Floor Plans will be added by 9/29/22. No showings until 10/3/22.
- 2472236 MLS
- ACTIVE Status
Calling INVESTORS!!! 12 unit portfolio of 2 bedroom fully rented condos in heart of Chapel Hill. Strong rental history, ample parking and on bus line. Units are C-1, C...
- 2464683 MLS
- ACTIVE Status
WELL BUILT 16 UNIT COMPLEX, COVERED STAIRWELLS. CONVENIENT LOCATION. VERY SPACIOUS UNITS. GOOD TENANTS. BELOW MARKET RENTS. NO OWNER FINANCING MUST SELL! PRICED WELL BELO...
- LP691324 MLS
- ACTIVE Status
Listings provided courtesy of Triangle MLS, Inc. of NC, Internet Data Exchange Database. Information deemed reliable but not guaranteed. © 2022 Triangle MLS, Inc. of North Carolina. Data last updated .