222 T F Kirkpatrick Way - Apartments FOR SALE


Candler, NC 28715
$1,895,000 USD
828-713-0777
222 T F Kirkpatrick Way, Candler, NC for Sale
$1,895,000 USD
Apartments - FOR SALE
1/23
null | Request Cap Rate

222 T F Kirkpatrick Way
Candler, NC 28715


HIGHLIGHTS

  • 100% Occupied 10-Unit 3-Building Income Producing Investment
  • Majority of Units Currently Leased Below Market Value
  • Multiple Capital Improvements Completed

OVERVIEW

Stabilized 10 unit, 100% occupied multifamily offering. The property contains one fourplex (built 2003), one four unit townhome building (built 2008) and one duplex (built 2001). Various renovations and capital improvements have been made to this property to create a consistent TF Kirkpatrick Way is a 10-unit residential rental community in Candler, NC, in Buncombe County. The property offers a straightforward, income-producing asset with additional rent upside as in-place leases turn over toward market. Building breakdown below: 219 T F Kirkpatrick - Built in 2001 - Duplex building - 2 bedroom, 2 bath units - 2 of 2 units renovated - painted, new flooring, new lights and ceiling fans - All units have Washer & Dryer hook ups 220 T F Kirkpatrick - Built in 2003 - Fourplex building - 2 bedroom, 2 bath units - 3 of 4 units renovated - painted, new flooring, new lights and ceiling fans - All units have Washer & Dryer hook ups 222 T F Kirkpatrick - Built in 2008 - Townhouse building - 2 bedroom, 2.5 bath units with single car garage - 2 of 4 units renovated - painted, new flooring, new lights and ceiling fans - All units have Washer & Dryer hook ups The property has two septic systems both inspected and pumped in 2026. It has one community well which had the well pump replaced in 2024 and serviced in 2026. 10 unit 3 building income producing investment 100% occupied with established tenant base Several units leased below market offering future value-add upside Majority of units updated/renovated Multiple capital improvements completed Located in Candler, NC this property is just off of NC 151. It boasts long-term views in a beautiful mountain setting but also with convenient access to the amenities and services of Asheville. It is approximately 10 miles (roughly 18 minutes) from Asheville-Buncombe Technical Community College, a comparable distance from Mission Hospital, and within reach of UNC Asheville and downtown Asheville, placing the property within a functional commuting radius of area employment, healthcare, and education centers.

FOR SALE DETAILS

PRICE

$1,895,000 USD

PRICE/SF

$191 USD /SF

# OF UNITS

10

PRICE/UNIT

$189,500

CAP RATE

Request Cap Rate

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

2008

PARKING SPACES

16

LAND DETAILS

LAND ACRES

2.46 AC

LAND SF

107,158 SF

ZONING

OU

APN/PARCEL ID

9606-19-8117-00000

ASK ABOUT THIS PROPERTY

Austin WalkerWhitney Commercial Real Estate ServicesMore Info
828-713-0777

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Austin WalkerWhitney Commercial Real Estate ServicesMore Info
828-713-0777

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