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, and surrounding areas!
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 our 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.
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!
“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.
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:
Current Multi-family Inventory
Recently renovated all brick duplex in Rocky Mount, only 40 minutes from Raleigh. First unit is 2 bed/1bath, second unit is 1 bed/1bath. One unit lease to end May of 2022...
- 2413733 MLS
- ACTIVE Status
Great INVESTOR OPPORTUNITY!!!! THREE RENTAL PROPERTIES on one lot must be sold together, one is a DUPLEX and one is a SF HOME. SUPERB CASH FLOW Potential, long time ten...
- 2406373 MLS
- ACTIVE Status
Wonderful Opportunity to own a duplex in the heart of Franklinton. 1 bed, 1 bath each. Great rental history. Property can only be shown on Tuesday with list or co-list pr...
- 2412249 MLS
- ACTIVE Status
Great opportunity to own a duplex in the heart of Franklinton. Each unit has 1 bed, 1 bath. Fully occupied.
- 2412250 MLS
- ACTIVE Status
Investors great opportunity! Property walking distance to NCCU. Long tern tenants have been in place. Lease expires March 2022 and rent can go up. If your looking for a g...
- 2414875 MLS
- ACTIVE Status
Great investment property with terrific potential. This duplex has 2BR/1BA on each side and is very close to everything downtown Durham has to offer with easy access to I...
- 2413776 MLS
- ACTIVE Status
Terrific things come in threes! These 3 properties to be sold together and are an investors dream. They are on one large lot, have reputable tenants in place and in a cle...
- 2403827 MLS
- ACTIVE Status
Great remodeled Duplex in the heart of Selma, with tons of potential. renovations include, new roof, siding, plumbing, wiring, flooring, doors, windows, decks, A/C units...
- 2413739 MLS
- COMING SOON Status
Turn Key Duplex in rapidly growing Pittsboro! Super close to downtown. Both units are in amazing shape! Tenants are month to Month. Each unit rents for $800. Unit 1 wil...
- 2412916 MLS
- COMING SOON Status
Sweet duplex on a quiet cul-de-sac, for sale in Creedmoor, NC. Both sides currently have occupants that have lived in the units for years on a month-to-month basis. Ea...
- 2386326 MLS
- ACTIVE Status
Single Family converted to triplex Many years ago. 2 units down and 1 up. Both downstairs units are 1 bed, 1 bath with a bonus room. Upstairs unit is 2 bed 1 bath. Vacant...
- 2414270 MLS
- ACTIVE Status
Dogwood Duplex! Tucked away on a beautifully treed one-acre lot among single family homes in classic Chapel Hill neighborhood. Each unit has 2 BR, 1 bath & stacked wash...
- 2414768 MLS
- ACTIVE Status
Dogwood Duplex! Tucked away on a beautifully treed one-acre lot among single family homes in classic Chapel Hill neighborhood. Each unit has 2 BR, 1 bath & stacked wash...
- 2414769 MLS
- ACTIVE Status
INVESTOR Opportunity in Hillsborough! FULLY LEASED for 5 Years! IN GREAT CONDITION w/ NEWER ROOF, HVAC, LUXURY VINYL PLANK FLOORING, WINDOWS, INTERIOR PAINT! Hardwoods, ...
- 2407769 MLS
- ACTIVE Status
Investors must see! Beautiful 2 bedroom 2 bath duplex open floor plan Living room cathedral ceilings. Dining room. Cute Kitchen with window overseeing the back yard. Luxu...
- 2394553 MLS
- ACTIVE Status
Unique opportunity. 2 homes on one lot. Mailing addresses are 201 and 209 Baptist grove rd. Tax address is 209 Baptist grove. One Parcel. #201 is 2016 built 3 br, 2 ba ho...
- 2394442 MLS
- ACTIVE Status
Qty 4 Townhouse style duplexes for sale ($350k each) - 8 units total. Low maintenance duplex within walking distance of restaurants and shopping. Four bedrooms,2.5 baths ...
- 2397478 MLS
- ACTIVE Status
Qty 4 Townhouse style duplexes for sale ($350k each) - 8 units total. Low maintenance duplex within walking distance of restaurants and shopping. Four bedrooms,2.5 baths ...
- 2397486 MLS
- ACTIVE Status
Qty 4 Townhouse style duplexes for sale ($350k each) - 8 units total. Low maintenance duplex within walking distance of restaurants and shopping. Four bedrooms,2.5 baths ...
- 2403100 MLS
- ACTIVE Status
Qty 4 Townhouse style duplexes for sale ($350k each) - 8 units total. Low maintenance duplex within walking distance of restaurants and shopping. Four bedrooms,2.5 baths ...
- 2403106 MLS
- ACTIVE Status
ATTENTION INVESTORS! Great opportunity to add this updated Duplex to your portfolio! Incredible demand for these rentals! Seller has updated to include laminate flooring,...
- 2412697 MLS
- ACTIVE Status
Investor alert! Rare duplex available close to Wake Med hospital and 5 minures to downtown Raleigh. Taking highest/best offer submit by October 17th. 3 bedroom...
- 2410367 MLS
- ACTIVE Status
FULLY RENTED - Multi-family 4 unit property - 2 on main level 2 basement level. All units are 2 BR, 1 bath with kitchen and living area. Convenient location - Close to ...
- 2414820 MLS
- COMING SOON Status
Best and final by 4pm 10/28. Attention Investors! Rare Opportunity to own quad in Raleigh. NO HOA. All units currently rented. Close to Green Road Community Park. Potenti...
- 2415911 MLS
- ACTIVE Status
This is a duplex turned into rooming house .Tenants pay rent by week and units are furnished. .Longterm tenants mostly Very low vacancy or eviction rate.Each rm. has own ...
- 2278732 MLS
- ACTIVE Status
Excellent investment opportunity, this beautiful home has been converted into a 3 -unit rental property. Home has 3,747 SF, 4 bedrooms / 5 full baths. Seller has installe...
- 2413293 MLS
- ACTIVE Status
PARCEL of 5 HOMES plus 1 lot on Gary St, $53k RENTAL INCOME per year! 2 blocks from shops/restaurants/bank, etc. SOLID rental income history with incredibly low taxes. Th...
- 2375689 MLS
- ACTIVE Status
This duplex unit is part of a previous planned condominium community however can be sold as a duplex. This is a great opportunity to live in one side and rent out the oth...
- 2391585 MLS
- ACTIVE Status
Adding to your portfolio? or Just starting your rental portfolio? Purchase this solid performer near downtown, and Hey! Just like that, you're an Investor! This is a 4-Un...
- 2408290 MLS
- ACTIVE Status
Investor alert ! Great duplex on end of Cul-de-sac. These don't come often, don't missed out. Convenient to restaurant and shopping, on the bus line close to natural trai...
- 2409078 MLS
- ACTIVE Status
This duplex unit is part of a what was planned to be 8 condo units however 113 & 107 were never converted and are still duplexes. This unit is two 3BR/2Bth units with sol...
- 2391590 MLS
- ACTIVE Status
This duplex unit is part of a previous "Condominium Declaration" however can be sold as a duplex. The condo units are also listed however the HOA and CCRs have not been w...
- 2391594 MLS
- ACTIVE Status
This duplex unit is part of a previous "Condominium Declaration" however can be sold as a duplex. The condo units are also listed however the HOA and CCRs have not been w...
- 2392161 MLS
- ACTIVE Status
This 3807 Thelma St. has four bdrms. effiency's have good income/good rental record. they average over $5,000.00 gross income per mo.Raleigh's redevelopment area , conve...
- 2276382 MLS
- ACTIVE Status
BACK ON MARKET b/c Due Diligence wasn't submitted. South Park Duplex on a LARGE lot, backs to Raleigh Greenway System & Little Rock Trail! It's a gold mine generating gre...
- 2406123 MLS
- ACTIVE Status
Incredible opportunity for business minded people. Calling all investors & buyers. Duplex is remodeled & fully furnished. Currently generating a nice cash flow. Thriving ...
- 2406344 MLS
- ACTIVE Status
Excellent investment opportunity! All brick, ranch duplex convenient to all the Triangle has to offer! Identical floor plan on each side, 2BR/1BA, with a beautiful expose...
- 2410557 MLS
- ACTIVE Status
Well maintained Quad in convenient location. All units rented, 3 are month to month. Single story units, all electric. New roof 2017.
- 2414044 MLS
- ACTIVE Status
Amazing opportunity to own in Cameron Park! Walk to so many great places to eat, and drink. All of the Village District and Glenwood South are a step away! Triplex in one...
- 2415170 MLS
- ACTIVE Status
6 units apartments are consist of two buildings, one duplex 813 Park Ave(112897), and a quad 817 Park Ave(112898) Duplex has two bedroom, 1 bath on one side and 1-bedroom...
- 2406730 MLS
- ACTIVE Status
Multiple buildings make up this listing. Current monthly income is $5,000 per month. PDF attachment has list of all rental units on property, details & lease details. Add...
- 2396965 MLS
- ACTIVE Status
Purchased in early 2014 these seven units (910,912,914,918,920 Gilbert St) were renovated to increase functionality while great was taken to maintain historic ft of the p...
- 2340507 MLS
- ACTIVE Status
Purchased in early 2014 these seven units (910,912,914, & 918 Gilbert St) are being sold to together.Reno to increasefunctionality while great care taken to maintainhisto...
- 2345324 MLS
- ACTIVE Status
Listings provided courtesy of Triangle MLS, Inc. of NC, Internet Data Exchange Database. Information deemed reliable but not guaranteed. © 2021 Triangle MLS, Inc. of North Carolina. Data last updated .