This 10-unit multifamily asset in South Asheville features five townhome-style duplexes, each on a separate tax parcelcreating rare flexibility for condo conversion, individual resale or short-term rentals providing multiple monetization paths. The property is 100% occupied with a strong unit mix of two 3BR/2BA and eight 2BR/1.5BA units, currently achieving rents 20-25% below market. Low operating expenses, strong in-place cash flow, and future sewer connectivity offering development potential position this as a compelling value-add investment in a high-growth submarket. See attached brochure.
| MLS # | 4345037 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active Under Contract |
| Year | 1998 |
| Days On Site | 202 |
| Listing Provided By | G/M Property Group | John Menkes |
| SQ Feet | 12,372 |
|---|---|
| Basement | Y |
| Story(s) | 2 |
| Units | 10 |
| Zoning | R-1 |
| Acreage | 2.85 |
| Water Front | Yes |
| Cooling | Central Air |
|---|---|
| Heating | Central, Forced Air, Heat Pump, Natural Gas |
| Appliances | Electric Oven, Electric Water Heater, Gas Range, Oven, Refrigerator |
| Roof | Composition |
|---|---|
| Construction Materials | Vinyl |
| Foundation Details | None |
| Garage Yes / No | No |
|---|---|
| Parking Features | Parking Lot |
| List Aor | Land of The Sky Association of Realtors |
|---|
| Property | 1434500 |
|---|
| State | NC |
|---|---|
| County | Buncombe |
| City | Arden |
| Zip Code | 28704 |
| Area | Buncombe |
| School District | T.C. Roberson |
| Elementary School | Avery's Creek/Koontz |
| High School | T.C. Roberson |
| Listing VS Median (in 28704) | |
Price: $2,650,000 low | high Med: $652,500 sqft: 12,372 low | high Med: 3,170 $ / sqft: $214 low | high Med: $218 On site: 202 low | high Med: 248 | |
| State | NC |
|---|---|
| County | Buncombe |
| City | Arden |
| Zip Code | 28704 |
| Area | Buncombe |
| School District | T.C. Roberson |
| Elementary School | Avery's Creek/Koontz |
| High School | T.C. Roberson |
| Listing VS Median (in 28704) | |
Price: $2,650,000 low | high Med: $652,500 sqft: 12,372 low | high Med: 3,170 $ / sqft: $214 low | high Med: $218 On site: 202 low | high Med: 248 | |