591 Margo Rd - Multi-Family FOR SALE


Boone, NC 28607
$1,750,000 USD
828-265-9593
591 Margo Rd, Boone, NC for Sale
$1,750,000 USD
Multi-Family - FOR SALE
1/13
null | 6.96% Cap Rate

591 Margo Rd
Boone, NC 28607


HIGHLIGHTS

  • Student Rental Fully Leased through July 2026

OVERVIEW

TWO DUPLEXES, 4 TOTAL UNITS, 16 BED / 8 BATHS - WITH PARKING minutes from downtown Boone and the campuses of App State and CCC&TI. Fully leased through July 2026 with new leases grossing $148,800 annually. With a new roof on 573 and some with recently updated kitchens, counter tops, flooring and fixtures these duplexes are a tremendous turn-key opportunity for any investor in the strong Boone rental market. These units offer ample on-site parking and are close to college campuses, shopping, restaurants, and all Boone has to offer. Floor plans in photos with unit square footage provided by the seller. Current gross rent is $144,000, increasing to $148,800 for Aug '25 - July '26. Tenants are responsible all utilities and trash pickup. 24-hour notice is required for showing. Photos were taken previously, when units were unoccupied. Unit finishes vary. Total square footage represented is from appraiser measurements provided by the seller.

FOR SALE DETAILS

PRICE

$1,750,000 USD

PRICE/SF

$424 USD /SF

# OF UNITS

4

PRICE/UNIT

$437,500

CAP RATE

6.96%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

16 Beds / 8 Baths (2) Side-by-Side Duplexes

PROPERTY TYPE

Multi-Family

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1989

PARKING SPACES

-

LAND DETAILS

LAND ACRES

-

LAND SF

-

ZONING

-

APN/PARCEL ID

2920-56-1607-000 & 2920-56-1534-000

ASK ABOUT THIS PROPERTY

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828-265-9593

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Page SauderBaxter Mountain PropertiesMore Info
828-265-9593

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