$297,000

1241 University Court 204, Raleigh, NC 27606

4 beds |
4 baths |
1,165 sqft

Condominium
Built in 1997
—— sqft lot
—— car garage
$255/sqft
Listed 14 days ago

Property Description

NCSU PARENTS & STUDENTS & INVESTORS!  Excellent income-producing property at University Commons - Lake Park! This spacious 4-bedroom, 4-bath condo features four private en suite units, each with its own full bath and walk-in closet — ideal for generating strong, steady rental income. Shared spaces include a comfortable living room, fully equipped kitchen, washer/dryer, and private balcony with outdoor storage. Currently, one bedroom is leased at $800 per month through December 29, 2025, with electricity, water/sewer, and internet included (paid by landlord). The remaining three bedrooms are vacant and ready to rent, offering excellent upside potential. When fully occupied, the property's income potential $3,200/month. Located within walking distance to Lake Johnson, walking trails, and NC State University, with easy access to the WolfLine bus route, downtown Raleigh, and I-40. Community amenities include a pool, volleyball court, and basketball court. Please note: property is tenant-occupied, please note a 24-hour notice required for showings. An outstanding opportunity to own a turnkey, income-producing property or a perfect setup for NCSU students seeking private suites with shared living comfort.

Listing Status:: Active
Date Added:: October 24, 2025 at 05:00AM
Listing Office:: Raleigh Realty Inc. : 919-249-8536
Listing Agent:: Cheryl Perry : 805-540-4654
MLS ID:: 10129562

General: Walk-In Closet(s)
Appliances: DishwasherDryerElectric RangeMicrowaveRefrigeratorStainless Steel Appliance(s)Washer
Laundry: Laundry Closet
Flooring: Vinyl
A/C: Ceiling Fan(s)Central Air
Heating: Forced Air

Style: Traditional
Pool: Community
Parking: Open

Roofing: Shingle
General: Vinyl SidingOne

HOA Amenities: Basketball CourtPoolMaintenance Grounds202.4Monthly
Originating MLS: Triangle MLS
County: Wake

Zoning: 0783823950

Water: Public
Sewer: Public Sewer

Source: Triangle MLS

This listing courtesy of Cheryl Perry, Raleigh Realty Inc.

Monthly Payment

$Est. Payment

Principal & Interest $
Property Taxes $
Home Insurance $
VA Funding Fee $

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Location

Schools Nearby

Combs Magnet Elementary School

2001 Lorimer Rd, Raleigh, NC, 27606

Grades PK-5

0.77 miles away

Centennial Campus Magnet Middle School

1900 Main Campus Dr, Raleigh, NC, 27606

Grades 6-8

0.86 miles away

Athens Drive Magnet High School

1420 Athens Dr, Raleigh, NC, 27606

Grades 9-12

0.62 miles away

Disclaimer: School and School District information courtesy of the National Center for Education Statistics (NCES). School boundaries may change. Proximity to listed schools does not guarantee enrollment eligibility. Contact the school district for more information and exact boundaries.