Trying to Build a Duplex/Fourplex in Raleigh/Durham, NC.

[Isla Arshad]

Hey folks,

Currently own a 1 acre land in the RDU area, NC (at the border of Chapel Hill/Durham, more specifically). Since the housing industry has terrible supply, it is hard to buy apartments in the area. I was wondering if anyone would be able to provide guidance on whether a 2 or 4 unit apartment complex is a feasible investment?

For my builder friends out there, I am also curious about cost per square feet. I am not looking to build anything fancy. Either 1 bedroom or studio apartments.

P.S: The lot is across from an apartment complex. I am currently working the zoning but I hope to not have any issues with it.

TIA!

[Payton Chung]

Zoning and which side of the border will make a huge difference. Chapel Hill is notoriously difficult to build in, especially compared to Durham city. Getting a rezoning is expensive, time-consuming, and risky.

Though with that size of lot, it will likely be easier to subdivide into SFH parcels.