526 Fleming St - Apartments FOR SALE


Hendersonville, NC 28739- Downtown Hendersonville
$1,150,000 USD
843-952-2265
526 Fleming St, Hendersonville, NC for Sale
$1,150,000 USD
Apartments - FOR SALE
1/7
null | 6.24% Cap Rate

526 Fleming St
Hendersonville, NC 28739
Downtown Hendersonville


HIGHLIGHTS

  • $200K+ Capex Investment: Comprehensive 2023 renovation addressing every major building system across the property.
  • Fully Renovated Interiors: New flooring, tile showers, kitchen cabinets, appliances, paint, and fixtures throughout all 9 units.
  • Updated Building Systems: New roofs, electric panels on all units, commercial water heater, PEX plumbing, and structural stabilization.
  • All-New Mini-Split HVAC: New mini-split systems installed in every unit across both duplexes and the single-family home.
  • Prime Downtown Location: Located in downtown Hendersonville with walking access to shops, dining, and entertainment.
  • Diverse Asset Composition: Four distinct buildings (a cottage, two duplexes, and a quadplex) on a single site.

OVERVIEW

Marcus & Millichap is pleased to present Fleming Street Apartments, a 9-unit multifamily community located in Hendersonville, North Carolina. Originally built in 1960 and comprehensively renovated in 2023, the property comprises four distinct buildings (a cottage, two duplexes, and a quadplex), offering a rare combination of asset diversity, scale efficiency, and turnkey condition. Approximately $200,000 in capital improvements have been completed throughout the property, addressing virtually every major building system. Recent upgrades include new roofs and gutters, new windows, full electrical panel replacement on every unit, upgraded plumbing throughout, a new commercial water heater on the quadplex, structural stabilization with steel piers and beams, and all-new mini-split HVAC systems serving the duplexes and cottage. Interior renovations span new flooring, fully updated bathrooms with tile showers, modern kitchen cabinets and appliances, and updated paint and lighting throughout. Fleming Street Apartments presents a true turnkey investment opportunity, allowing a new owner to acquire a fully repositioned asset with minimal deferred maintenance and immediate cash-flow stability, supported by Hendersonville’s steady demand from a diverse tenant base of working professionals, retirees, and seasonal residents. STR furniture is available for sale for buyers who wish to continue operating the existing short-term rental units.

FOR SALE DETAILS

PRICE

$1,150,000 USD

PRICE/SF

$197 USD /SF

# OF UNITS

9

PRICE/UNIT

$127,778

CAP RATE

6.24%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Fleming Street Apartments

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1960

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.72 AC

LAND SF

31,363 SF

ZONING

MIC

APN/PARCEL ID

0107559

ASK ABOUT THIS PROPERTY

Carson FordMarcus & MillichapMore Info
843-952-2265

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Carson FordMarcus & MillichapMore Info
843-952-2265

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