1105 Fall Creek Rd - Apartments FOR SALE


Purlear, NC 28665
$1,950,000 USD
513-841-7000
1105 Fall Creek Rd, Purlear, NC for Sale
$1,950,000 USD
Apartments - FOR SALE
1/69
null | Request Cap Rate

1105 Fall Creek Rd
Purlear, NC 28665


HIGHLIGHTS

  • ONLINE AUCTION ONLY
  • SOLD BY COURT APPOINTED RECEIVER

OVERVIEW

1105 Fall Creek Rd | Purlear, NC 28665. Situated on 77.77 acres across two parcels, this unique investment opportunity features a mix of completed and in-progress rental accommodations in a scenic mountain setting. The property includes 8 rental cabins built between 1992 and 2002, each offering 2 bedrooms, 2 bathrooms, a loft area, and inviting outdoor spaces—many with covered porches, rocking chairs, swings, and hot tubs. In addition, there are 10 newly constructed glamping pods (2023), built on wooden decks with PVC dome covers, glass doors, and insulation. Each pod is designed with a kitchenette, combined living/bedroom area, and full bathroom. Final completion work, including furnishing and finishing details, will be required prior to rental use. Property infrastructure includes T&J Panel Sewer Systems, four wells (three interconnected by a 2” waterline, depths ranging from ±125' to 500'), and on-site amenities such as fishing in Fall Creek, Green Branch Waterfalls, hiking trails, firepits, and picnic areas. This property provides a rare opportunity to acquire a mountain retreat with both established income-producing cabins and value-add potential through the completion and lease-up of the glamping units or proposed tree houses. Being sold AS IS by Court Appointed Receiver, Prodigy Properties. Bidder Registration All prospective bidders must be pre-approved to bid. Prospective bidders wishing to be approved must submit the following items no later than December 17, 2025: Submit evidence of financial capability Submit $10,000 participation deposit. (email kurt@prodigyprop.com for wire instructions) Submit bidder executed Purchase and Sale Agreement ?View Below Auction Date / Times Auction Starts: Live Now Auction Ends: December 18, 2025 @ 3pm ET Sale Terms A 10% (ten percent) buyer's premium will be added to the highest acceptable bid to determine the final purchase price As-Is, Where-Is Sold free and clear of all liens Taxes are prorated of the day of closing Receiver will convey insurable title Financing contingencies are not permitted Due diligence contingencies are not permitted Winning bidder must increase the total deposit to $100,000 by 12 noon ET, December 19, 2025. Tour Dates Email kurt@prodigyprop.com to receive documents required to be approved to participate in the sale, with questions, or to schedule a tour. Receiver may, in its sole discretion, accept or reject any offer or bid, for any reason, at any time, without notice.

FOR SALE DETAILS

PRICE

$1,950,000 USD

PRICE/SF

$222 USD /SF

# OF UNITS

18

PRICE/UNIT

$108,333

CAP RATE

Request Cap Rate

% LEASED

0%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Fall Creek Cabins

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

2002

PARKING SPACES

-

LAND DETAILS

LAND ACRES

77.77 AC

LAND SF

3,387,661 SF

ZONING

-

APN/PARCEL ID

2980-16-3244 & 2980-15-8445

ASK ABOUT THIS PROPERTY

Jeff LaneProdigy PropertiesMore Info
513-841-7000

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Jeff LaneProdigy PropertiesMore Info
513-841-7000

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.