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
Fully Renovated in 2019, Fully Leased and Stabilized Income Producing Investment Property
- 2508013 MLS
- ACTIVE Status
Fully Renovated, Fully Leased- Income Producing Investment Property
- 2508022 MLS
- ACTIVE Status
Fully Renovated, Fully Leased- Income Producing Investment Property
- 2508287 MLS
- ACTIVE Status
Fully Renovated, Fully Leased- Income Producing Investment Property
- 2508294 MLS
- ACTIVE Status
Looking for a great investment opportunity in the heart of Zebulon? Look no further than this duplex property! This property features two units: Unit 1 (front) and Unit 2...
- 2500111 MLS
- ACTIVE Status
POSITIVE CASH FLOW FROM DAY 1. WOW INVESTORS *ATTENTION* 2 HOUSES ON A LOT!!! 1047 & 1061 BERNADINE. EACH OF THESE CHARMING HOMES HAS STREET FRONTAGE. THIS IS RENTAL INCO...
- LP698797 MLS
- ACTIVE Status
Rare opportunity to acquire a spacious duplex located off of Country Club Drive. Very close to the VA Hospital, shopping, schools, etc. Estimated huge gross rents with a ...
- LP695477 MLS
- ACTIVE Status
Terrific opportunity on one of Durham's fastest evolving streets! Classic Durham duplex. Unit A was upfitted in 2015, was just vacated and is FRESHLY cleaned. Unit B is F...
- 2494087 MLS
- ACTIVE Status
Calling all investors!!! Instant equity! Appraised for 270k!!! Duplex home in Durham Brand new AC units . Both units have 1 bdrm and 1 bath . Both have lower area tha...
- 2509683 MLS
- ACTIVE Status
GREAT INVESTMENT PROPERTIES! 3 Homes all rented on 2 parcels right in the great area of Four Oaks! Each home is tenant occupied. No restrictions. Country living in the he...
- 2508922 MLS
- ACTIVE Status
Exceptional opportunity to acquire a 12 lot (13 pad) lot rent mobile home park in a beautiful country location among new subdivisions, nearby grocery stores, sought after...
- LP704956 MLS
- ACTIVE Status
Exceptional tri-plex consisting of 2 X 1 bedroom, 1 bathroom units and a rare 3 bedroom 1.5 bathroom unit. All units have strong leases. convenient location, close to com...
- LP705140 MLS
- ACTIVE Status
Completely Remodeled 4 units each with a 1 bedroom and 1 bathroom. Easy living, this place is close to everything. Shopping, downtown, hospital, highways. It is a dead-en...
- LP704157 MLS
- ACTIVE Status
Beautiful house with endless potential as a primary residence, investment, or both! Full apartment on lower level with private entrance and lockable interior doors to cr...
- 2512887 MLS
- ACTIVE Status
Introducing an exceptional investment opportunity! This Triplex, located just off Fields Drive on Washington Ave, is now available for sale. Renovated in 2017, this prope...
- LP705223 MLS
- ACTIVE Status
**Back on the market** Triplex each unit is 2 bed/1 bath. Private lot, low taxes, Three blocks from Wilson downtown $100M project Pine-Nash street. Close to Barton Col...
- 2459735 MLS
- ACTIVE Status
Looking for a smart investment opportunity? Check out our quadplex! This four-unit residential building features modern design, spacious layouts, and updated finishes. Ea...
- LP698238 MLS
- ACTIVE Status
ATTENTION INVESTORS! Looking to add to your rental portfolio? This Duplex is IT! Perfect for the first time investor or experienced investor looking to add to their real ...
- 2506474 MLS
- ACTIVE Status
ATTENTION INVESTORS! Looking to add to your rental portfolio? This Duplex is IT! Perfect for the first time investor or experienced investor looking to add to their real ...
- 2506476 MLS
- ACTIVE Status
Great Investment property! Quadraplex with 8 bedrooms, 4 baths. This property is fully rented. Make it your next investment.
- 2507871 MLS
- ACTIVE Status
As a landlord you can make money in your sleep. This is your opportunity to own an updated duplex near downtown Durham. This location is highly accessible to public trans...
- 2512105 MLS
- ACTIVE Status
All units are Tenant occupied! Please do not disturbed. Each unit has it's own Tax ID: Unit 5720: 0406-67-8578.000, Tenant is on a month to month lease. Unit 5722: 0406-6...
- LP704461 MLS
- ACTIVE Status
Attention Real Estate Investors, Home Owners and house hackers! Amazing opportunity for a homeowner interested in living in one unit and renting out the other one. Also ...
- 2506508 MLS
- ACTIVE Status
4 unit townhouse/quad located off of Raeford road. Each unit consists of 2 bedroom/2.5bath. All units are occupied! Gross rent amount of $3,650. Property located close to...
- LP704112 MLS
- ACTIVE Status
Excellent opportunity for the savvy investor/builder to acquire two duplexes with easy value add component. Simply raise rents to market rate. These duplexes are situated...
- LP696997 MLS
- ACTIVE Status
Investor Alert!!! This Duplex is an opportunity you don't want to miss!! Prime location in a cul de sac neighborhood near shopping plazas and other city amenities. Each u...
- 2501678 MLS
- ACTIVE Status
Located close to shopping, schools, Ft. Bragg and more. 4 Units - all units 2 bedroom, 1 bath, Kitchen w/range, refrigerator, stacked washer & dryer, tankless water heate...
- LP699345 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
Duplex with a few updates and repair completed. Great for residential or office space. The building has a new roof, a new porch, fresh exterior paint, bathrooms remodel...
- 2506283 MLS
- ACTIVE Status
3 homes all rented on one parcel which totals 2.85 acres Great location to the new Amazon and easy access to Raleigh. Great Investment property. You can live in 1 home a...
- 2504129 MLS
- ACTIVE Status
Get creative on Club! Fantastic opportunity as an owner occupied landlord! Or strictly investment - lots of options! This charming 30's duplex boasts 2 units (vertical sp...
- 2485983 MLS
- ACTIVE Status
2 Detached Houses One Glorious 2.88 Acre Lot only 8 miles from Downtown Hillsborough. A Modular 1100 Square Foot Ranch with 2 Bedrooms, 1 Bathroom and a Bonus Rm. The oth...
- 2500731 MLS
- ACTIVE Status
Don't miss out on this incredible opportunity to own prime real estate in Spring Lake, NC! This multi-family/Commercial building is a rare gem, featuring 16 1 bed/1 bath ...
- LP697907 MLS
- ACTIVE Status
Attention Real Estate Investors, Home Owners and house hackers! Amazing opportunity for a homeowner interested in living in one unit and renting out other side. Also per...
- 2506503 MLS
- ACTIVE Status
SELLER OFFERING FINANCING UP TO 20%! AS IS!!! SELLER WILLING TO PAY $4,000.00 TOWARDS CLOSING COSTS with FULL OFFER Only!! Rooms rented from $400-$550 Rental rates hav...
- 2486353 MLS
- ACTIVE Status
Bright, updated duplex, with BOTH SIDES recently improved with new LVP flooring, fresh paint, granite countertops, new driveway, new privacy fence, etc. Large divided fro...
- 2497278 MLS
- ACTIVE Status
Attention Investors, Home Owners & house hackers! Amazing opportunity for a homeowner interested in living in one unit & renting out the other side. Also, perfect for the...
- 2506497 MLS
- ACTIVE Status
Haymount prime real estate! 5 unit apartment building with accessory dwelling located in Fayetteville city limits. Property consists of 2-1 bedroom 1 bath units, 1-2 bedr...
- LP704111 MLS
- ACTIVE Status
This historic property (1938) is updated throughout, sits beautifully in the Haymont community, and has two additional rental properties included in the package. Do you n...
- 2507858 MLS
- ACTIVE Status
Attention Real Estate Investors, Home Owners and house hackers! Amazing opportunity for a homeowner interested in living in one unit and renting out the other two. Also p...
- 2506506 MLS
- ACTIVE Status
Attention Real Estate Investors, Home Owners and house hackers! Amazing opportunity for a homeowner interested in living in one unit and renting out the other two. Also ...
- 2506596 MLS
- ACTIVE Status
This Queen Anne frame home in Historic Oakwood (c. 1912) is bursting with possibilities! Whether you choose to keep it as a duplex or restore it back to a single-family r...
- 2505125 MLS
- ACTIVE Status
Amazing investment property with 3K a month in rent. Off street parking. Great location. Long time tenant with excellent rental history. Right beside of the Walltown ...
- 2503348 MLS
- ACTIVE Status
Looking investment property to built up your portfolio? This home is the one! great rental income and appreciation over time. 4BR/2BA. this South Park Duplex. has beautif...
- 2502935 MLS
- ACTIVE Status
Attention Real Estate Investors, Home Owners and house hackers! Amazing opportunity for a homeowner interested in living in one unit and renting out the other three. Als...
- 2506500 MLS
- ACTIVE Status
Multi- Unit home in the heart of Downtown Raleigh. Unique Historic Oakwood home is being used as 4 apartments. All units occupied by month- to -month tenants. Home is zo...
- 2509811 MLS
- ACTIVE Status
Multifamily 8 bed, 4 bath apartment building for sale. Located in the Albright neighborhood steps from the Golden Belt District and within walking distance to downtown Du...
- 2511062 MLS
- ACTIVE Status
Rare opportunity to redevelop the Bel Air Chevrolet building in downtown Rocky Mount. Preliminary plans have been completed for 10 loft apartments on the second floor. ...
- 2498157 MLS
- ACTIVE Status
Investment Opportunity for Quad in North Raleigh!
- 2514563 MLS
- ACTIVE Status
Attention Investors!!! Solid investment opportunity to acquire 7 units. Consist of 3 duplexes and 1 house on the same parcel of land. Unit mix is 5- 1bed/1bath, and 2- st...
- LP699048 MLS
- ACTIVE Status
This property is selling for land value..Improvements go with the property in as is condition and are not being shown without 48 hrs. notice and a prequalification letter...
- 2481610 MLS
- ACTIVE Status
Purchase this delightful triplex located in historic Duke East Campus that exudes timeless elegance and character. Well maintained throughout the years, it has proven to ...
- 2512982 MLS
- ACTIVE Status
Unique opportunity 2 houses in 1. Zoned OX Mixed Use offers flexibility with some business options. Main house is 3388 sqft w/5bedrooms.Carriage house is 670 sqft 1B/1B. ...
- 2507561 MLS
- ACTIVE Status
Come explore the possibilities for your next investment! The opportunities for this almost 1/2 acre lot are endless! Incredible potential to either explore re-zoning in t...
- 2478160 MLS
- ACTIVE Status
ENDLESS OPPORTUNITIES: In this established very quiet SUNSET HILLS community off of Wade Ave ITB build 1-2 homes. Bring your builder for a CUSTOM LUXURY MODERN creation! ...
- 2507737 MLS
- ACTIVE Status
ENDLESS OPPORTUNITIES: In this established very quiet SUNSET HILLS community off of Wade Ave ITB build 1-2 homes. Bring your builder for a CUSTOM LUXURY MODERN creation! ...
- 2507742 MLS
- ACTIVE Status
INVESTMENT OPPORTUNITY! 3 Duplexes located on private road about 5-6 miles from UNCP. These units are maintained by the owner and managed by 1ST CHOICE REAL ESTATE. Each ...
- LP701780 MLS
- ACTIVE Status
Great wooded cul de sac! 1.5 miles to downtown. BACK TO BACK Duplex. Unit A has all bedrooms up. Granite Kitchen open to Great Room. 8-foot Kitchen Island. HUGE walki...
- 2509775 MLS
- ACTIVE Status
With its prime location, this quadplex is perfectly situated for those seeking convenience and a vibrant community. Just steps away from renowned dining, eclectic shops, ...
- 2512987 MLS
- ACTIVE Status
Package of 3 fantastic, new construction, single family homes, all in a row, just a short distance to downtown Durham. Listing and pricing is for a purchase of all 3 prop...
- 2508457 MLS
- ACTIVE Status
6 Units- 2 Bed 1 bath each unit! 3600 total sq feet across all units. $5700 per month rent. Attention Real Estate Investors! Amazing opportunity. Perfect for new or ex...
- 2506595 MLS
- ACTIVE Status
READY TO GO! *UPDATED 6-UNIT (3 Duplexes) 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 mo...
- 2461223 MLS
- ACTIVE Status
THREE DUPLEXES (SIX UNITS) ON INDIVIDUAL LOTS. EACH UNIT HAS TWO BEDROOMS AND ONE BATH. SQUARE FOOTAGE TAKEN FROM APPRAISAL. SELLER PREFERS TO SELL ALL THREE DUPLEXES TO ...
- 2514490 MLS
- ACTIVE Status
#Highly sought after Project for sale! One block from Campbell University Harnett County Approved 15 townhomes one block from Campbell University Campus and Moe's resta...
- 2504595 MLS
- ACTIVE Status
Excellent location. Very rare opportunity to acquire a multifamily building in the highly sough-after Five Points/Hayes Barton neighborhood of Raleigh. The property featu...
- 2505919 MLS
- ACTIVE Status
Package deal idea for investor looking positive cash flow, move-in ready property without the hassle of repairs. These 4 New Construction single family homes located just...
- 2507626 MLS
- ACTIVE Status
SVN | Real Estate Associates is pleased to present the opportunity to acquire two apartment complexes with a total of nine units in the fast growing Durham area at the bo...
- 2505156 MLS
- ACTIVE Status
Listings provided courtesy of Triangle MLS, Inc. of NC, Internet Data Exchange Database. Information deemed reliable but not guaranteed. © 2023 Triangle MLS, Inc. of North Carolina. Data last updated .