2147 Brevard Rd - Apartments FOR SALE


Arden, NC 28704- Avery Creek
$2,800,000 USD
828-281-4024
2147 Brevard Rd, Arden, NC for Sale
$2,800,000 USD
Apartments - FOR SALE
1/21
null | Request Cap Rate

2147 Brevard Rd
Arden, NC 28704
Avery Creek


HIGHLIGHTS

  • 5-duplex /10-unit townhouse complex
  • 5 parcels - each duplex on separate lot
  • Two 3BR/2BA & eight 2BR/1.5BA
  • 100% Occupied. Rents currently 20–25% below market
  • New MSD public sewer offers potential to develop rear acreage (septic field)
  • Potential for condo conversion, individual resale or short-term rentals providing multiple monetization paths

OVERVIEW

This 10-unit multifamily asset in South Asheville features five townhome-style duplexes, each on a separate tax parcel—creating 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.

FOR SALE DETAILS

PRICE

$2,800,000 USD

PRICE/SF

$255 USD /SF

# OF UNITS

10

PRICE/UNIT

$280,000

CAP RATE

Request Cap Rate

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1998

PARKING SPACES

-

LAND DETAILS

LAND ACRES

2.85 AC

LAND SF

124,146 SF

ZONING

R-1

APN/PARCEL ID

9633-55-5579-0000,9633-55-5666-0000,9633-55-5772-0000,9633-55-5778-0000,9633-55-5865-0000

ASK ABOUT THIS PROPERTY

John MenkesG/M Property GroupMore Info
828-281-4024

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John MenkesG/M Property GroupMore Info
828-281-4024

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