11 beds5,040 sqft$154/sqft
720 S State St, Raleigh, NC 27601
Est: $4,468/moGet pre-approved

Description

Opportunity is knocking, and it's already collecting rent. Amazing opportunity to own a Triplex located near Downtown Raleigh. Three fully leased units, minutes from downtown Raleigh, with $5,670/month in combined income ($68,040/year) already in place with leases into 2027. Unit 101: 4BR/4BA at $1795/mo. Unit 102: 4BR/4BA at $1,795/mo. Unit 103: 3BR/4BA at $1,695/mo. Bring your calculator and your offer Opportunities like this do not last long! Tenant occupied. Do not disturb tenants. Also check...Opportunity is knocking, and it's already collecting rent. Amazing opportunity to own a Triplex located near Downtown Raleigh. Three fully leased units, minutes from downtown Raleigh, with $5,670/month in combined income ($68,040/year) already in place with leases into 2027. Unit 101: 4BR/4BA at $1795/mo. Unit 102: 4BR/4BA at $1,795/mo. Unit 103: 3BR/4BA at $1,695/mo. Bring your calculator and your offer Opportunities like this do not last long! Tenant occupied. Do not disturb tenants. Also check out building 718 S State St
LISTING UPDATED: 08/22/2026 02:16 AM

  1. Listed by Stephanie Anson • Northside Realty Inc.

Property Details for 720 South State Street

Status
MLS #
10188078
Taxes
$6,340 / year
HOA Fees
-
Condo/Co-op Fees
-
Property Type
MLS Type
Residential Income / Triplex
Year Built
2008
Lot Size
0.18 AC / 7,840 SF
View
Yes
Subdivision
Watsons Lands

Location

Listing Courtesy of Northside Realty Inc.
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Building Information for 720 South State Street

Stories-Residences3Year Built2008Building Size-Lot Size0.18 AC / 7,840 SF

Payment Calculator

$4,468 per month

30 year fixed, 6.55% Interest

Principal and Interest

$3,939

Property Taxes

$528

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

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Property Information for 720 South State Street

Summary
Location and General Information
  • Zoning: R-10
  • Subdivision Name: Watsons Lands
  • Latitude: 35.771029
  • Longitude: -78.624841
Taxes and HOA Information
  • Association: No
  • Tax Annual Amount: $6,340.12
  • City Limits Of: Raleigh
  • City Limits YN: Yes
  • Lot Number: 171
  • Restrictive Covenants YN: No
Contract Information
  • Lease Expiration Date: 2027-01-01
  • Original MLS: Triangle MLS Inc
  • Property Leased YN: Yes
School Information
  • Elementary School: Wake - Hunter Elementary
  • Middle Or Junior School: Wake - Ligon Middle
  • High School: Wake - William G Enloe High
Parking
  • Open Parking: Yes
  • Parking Features: Parking Lot
  • Attached Garage: No
Property
Lot Information
  • Building Area Total: 5040.0
  • Total Other Area Sq Ft: 0
  • Parcel Number: 171309152796000 0013722
  • Structure Type: Triplex
Property and Assessments
  • New Construction: No
  • Photos Count: 29
  • Below Grade Finished Area: 0.0
  • Below Grade Finished Area Units: Square Feet
  • Senior Community: No
Utilities
  • Sewer: Public Sewer
  • Water Source: Public
  • Water_Sewer: Public, Public Sewer
Interior and Exterior Features
Exterior Features
  • Construction Materials: Vinyl Siding
  • Foundation Details: Concrete Perimeter
  • Pool Private: No
  • Roof: Shingle
  • New Construction Type: Vinyl Siding, Triplex
Interior Features
  • Levels: Two
  • Basement Description: Concrete
  • Flooring: Vinyl
  • Cooling: Central Air
  • Cooling?: Yes
  • Heating: Forced Air, None
  • Heating?: Yes
  • Appliances: Electric Range, Refrigerator
  • Laundry Features: In Unit
  • Interior Features: Bathtub/Shower Combination
  • Equipment Appliances: Electric Range, Refrigerator
  • Interior: Parking Lot, Vinyl Siding, In Unit
  • Equipment: Electric Range, Refrigerator, In Unit, Parking Lot
Multi Family
Unit Information
  • Total Units: 3
Agent
Sale and Listing
  • Property Type: Residential Income
  • Property Class Name: CrossProperty
Rental
Rental Information
  • Lease Term: 12 Months
  • TenantPays: All Utilities
Units Information
Units Details
  • Number Of Units Month To Month: 0.0
Unit One
  • Unit One: Baths Total: 4.0
  • Unit One: Beds Total: 4.0
  • Unit One: Garage Attached YN: false
  • Unit One: Kitchen: true
  • Unit One: Living Room: true
  • Unit One: Range: true
  • Unit One: Refrigerator: true
Unit Two
  • Unit Two: Baths Total: 4.0
  • Unit Two: Beds Total: 4.0
  • Unit Two: Garage Attached YN: false
  • Unit Two: Kitchen: true
  • Unit Two: Living Room: true
  • Unit Two: Range: true
  • Unit Two: Refrigerator: true
Unit Three
  • Unit Three: Baths Total: 3.0
  • Unit Three: Beds Total: 4.0
  • Unit Three: Garage Attached YN: false
  • Unit Three: Kitchen: true
  • Unit Three: Living Room: true
  • Unit Three: Range: true
  • Unit Three: Refrigerator: true
Unit Four
  • Unit Four: Porch: true

Property History for 720 South State Street

DateEvent & SourcePriceAppreciation
Aug 21, 2026

Listed (Active)

TRIANGLEMLS #10188078

$775,000
Jan 1, 2023

Expired

TRIANGLEMLS #2475712

Jan 1, 2023

Expired

TRIANGLEMLS #2475712

DateEvent & SourcePrice
08/21/2026

Listed (Active)

TRIANGLEMLS #10188078

$775,000
01/01/2023

Expired

TRIANGLEMLS #2475712

01/01/2023

Expired

TRIANGLEMLS #2475712

For completeness, we often displays two records for one sale: the MLS record and the public record.

Public Records for 720 South State Street

Taxable ValueLand$170,000Additions$550,115Total$720,115
Tax Record2025$6,340 ($528 / month)
Home Facts
Baths3.5Total Finished SqFt5,040 SqFtAbove Grade Finished SqFt5,040 SqFtStories2Lot Size7,841 SqFtStyleTriplexYear Built2008Year Renovated2013ZoningR-10CountyWAKEAPN1713.09-15-2796-000

Schools near 720 South State Street

This home is within Wake County School District.
Rating
School
Type
Grades
Distance
Public - PK to 5
Public - 6 to 8
Public - 9 to 12
Public - 6 to 13
Rating
School
Distance
Hunter Elementary School
PublicPK to 5

Ligon Middle
Public6 to 8

William G Enloe High
Public9 to 12

Wake Young Men's Leadership Academy
Public6 to 13

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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720 South State Street is a multi-family home for sale in Raleigh, NC 27601. This property was listed for sale on August 21, 2026 by Northside Realty Inc., it's currently listed at $775,000. It has been on the market for a total of 1 days and was last sold on June 23, 2017. This listing's school district is Wake County School District. Nearby schools include Hunter Elementary School, Ligon Middle and William G Enloe High. 720 South State Street is a 11-bed, 12-bath, 5,040 sqft multi-family home built in 2008.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of any information, descriptions or measurements (including square footage measurements and property condition), such should be independently verified through appropriate means, including, but not limited to, in person inspection and public records, and Compass International Holdings, its subsidiaries, affiliates and independently owned and operated franchisees, and their affiliated agents and associated third parties expressly disclaim any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the seller's discretion. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Northside Realty Inc.

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