563 N Country Club Dr - Apartments FOR SALE


Cullowhee, NC 28723
$4,640,000 USD
704-831-4633
563 N Country Club Dr, Cullowhee, NC for Sale
$4,640,000 USD
Apartments - FOR SALE
1/7
null | 9.7% Cap Rate

563 N Country Club Dr
Cullowhee, NC 28723


HIGHLIGHTS

  • Recently Renovated: All 58 units have updated interiors and appliances reducing near-term capital needs.
  • Proximity to Western Carolina University: Walkable location with access to a student population of ~12,000.
  • Comprehensive Amenities: Fitness center, laundry facilities, on-site management and maintenance, off-street parking, and pet-friendly policies.
  • Consistent Demand: Limited off-campus housing options help support steady occupancy.
  • Operational Upside: Potential for incremental rent growth and efficiency improvements.
  • Cullowhee Setting: University-anchored community in the Blue Ridge Mountains with strong ties to regional economic activity.

OVERVIEW

The LLG Multifamily Group at Marcus & Millichap is pleased to present Sky at Cullowhee, a58-unit motel conversion in Cullowhee, North Carolina. Nestled in the heart of the Smoky Mountains, the property offers a unique balance of natural beauty and convenience, surrounded by rivers, wooded trails, and scenic views. Its walkable proximity to Western Carolina University provides direct access to nearly 12,000 students, while nearby shops, restaurants, and outdoor amenities make it an attractive option for a wide range of renters in a market with limited off-campus housing supply. The community delivers both comfort and practicality through all-inclusive rents that cover Wi-Fi, utilities, trash, and pest control. Residents benefit from a fully equipped fitness center, on-site laundry, ample parking, professional management, and pet-friendly policies, all enhanced by added security features. With strong occupancy trends and consistent renter demand, Sky at Cullowhee provides a stable foundation for investors. In addition, opportunities for operational efficiencies and rent growth create meaningful potential for long-term value appreciation.

FOR SALE DETAILS

PRICE

$4,640,000 USD

PRICE/SF

$80 USD /SF

# OF UNITS

58

PRICE/UNIT

$80,000

CAP RATE

9.7%

% LEASED

91%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Sky at Cullowhee

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1980

PARKING SPACES

-

LAND DETAILS

LAND ACRES

6 AC

LAND SF

261,360 SF

ZONING

-

APN/PARCEL ID

7548-99-8653

ASK ABOUT THIS PROPERTY

Isaiah ShatzMarcus & MillichapMore Info
704-831-4633

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Isaiah ShatzMarcus & MillichapMore Info
704-831-4633

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