1010-1012 1010-1012, Black Mountain, NC

WHITNEY COMMERCIAL REAL ESTATE: 7 UNIT RENTAL PROPERTY.  Unique residential rental property with excellent history and upside income potential. 7.6% proforma cap rate. Includes 5 two-bedroom units; 1 one-bedroom unit and a 2;250 sf three-bedroom house. Renovations on two units  completed in 11/16.  Located on two tax parcels in popular Black Mountain residential area.  Conveniently located within 1 mile of center of town. House has been occupied by property owner who will relocate with sale offering additional income potential. Seller will consider short-term leaseback of house. Potential to subdivide house and apartment from remaining 5 units for resale.  See attached spreadsheets for property brochure; unit mix; survey and proforma income.  

From Intersection of State St and Montreat Rd (NC Hwy 9) Follow Montreat Rd one mile to Property on Right.

Listing Details

  • Price: $675,000
  • Square Feet: 7,175
  • Acres: 0.440
  • County: Buncombe County
  • Zoning: R-1
  • Price per SqFt: $94
  • Price per Acre: $94
  • Listed By: Karnes

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