This property is Off-Market

639 Whispering Hills Road
Boone, NC 28607 ·

418 Units · Multifamily For Sale

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This property will be auctioned on
09/14/2011 12:00 PM EST

Auction Location:

639 Whispering Hills Road Boone, NC 28607

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This property was auctioned on 09/14/2011 {{displayTime | date:'hh:mm a'}} EST

AUCTION: 381-ac Mountain Developement w/ 418 Apts

Price N/A Property Sub-type
Garden/Low-Rise
More...
  • Free Standing Bldg
  • Special Purpose (Other)
  • Religious Facility
No. Units 418 Property Use Type Investment
Building Size 340,000 SF Auction Yes
Property Type Multifamily Lot Size 381 AC
Listing ID: 17269730 Date Created: 08/01/2011 Last Updated: 11/14/2011

Description

REAL ESTATE AUCTION SEP 14 AT 12:00 NOON ON-SITE
Forest Summit, a 381 Acre Boone, NC Mountaintop Development w/ 418 Apartment Units
* 26 Buildings Totaling +/- 340,000 SF near Appalachian State University
* Completed in 1998 at a Cost of Over $40 Million Dollars, Now Offered at This One-Time Sale with a Reserve Price of $2,485,000, just $7.31/Sq. Ft. & 6% of Original Construction Cost
*Owner Directs Immediate Sale to Focus on Book Company.
SELLER FINANCING AVAILABLE
* Former West Campus of the Non-Religious Spiritual Center of America. Ideal Apartment/Student Housing Complex, Corporate/Religious Retreat, Resort, Camp, University or Condo Development

" 36 Parcels Offered in their Entirety Providing Surreal Blue Ridge Mountaintop Views at 3,700 Ft.

" 7 mi. from Downtown Boone, the Highest Elevation of any City of its Size East of the Mississippi River

" Just 1 mi. from the Blue Ridge Pkwy; Charlotte: 110 mi.; Winston-Salem: 86 mi.; Johnson City: 38 mi.

" 17 Apartment Buildings Totaling 418 Units. 11 Buildings Recently Retrofitted for Leasing. Now Occupied with Primarily University Students and Retirees.

This spectacular development sits high atop the Blue Ridge Mountains in Boone, NC, the highest elevation of any city of its size east of the Mississippi River. Home to Appalachian State University (17,000 Student Enrollment), the area has prospered for many years due largely in part to the college community, tourism, and a longtime destination for retiree' s throughout the world.

For Free 36-Page Brochure with Terms of Sale and Financial Analysis visit www.chartwellauctions.com or contact Jason Dolph, CCIM, AARE, at 704-831-8983

Research

639 Whispering Hills Road, Boone, NC 28607 (Watauga County)

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