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2147 Brevard Rd 10 Unit Apartment Building $2,800,000 ($280,000/Unit) Arden, NC 28704
Investment Highlights
- 5-duplex /10-unit townhouse complex
- Two 3BR/2BA & eight 2BR/1.5BA
- New MSD public sewer offers potential to develop rear acreage (septic field)
- 5 parcels - each duplex on separate lot
- 100% Occupied. Rents currently 20–25% below market
- Potential for condo conversion, individual resale or short-term rentals providing multiple monetization paths
Executive Summary
This 10-unit multifamily asset in South Asheville features five townhome-style duplexes, each on a separate tax parcel—creating rare flexibility for condo conversion, individual resale or short-term rentals providing multiple monetization paths. The property is 100% occupied with a strong unit mix of two 3BR/2BA and eight 2BR/1.5BA units, currently achieving rents 20–25% below market. Low operating expenses, strong in-place cash flow, and future sewer connectivity offering development potential position this as a compelling value-add investment in a high-growth submarket.
Property Facts
| Price | $2,800,000 | Building Class | B |
| Price Per Unit | $280,000 | Lot Size | 2.85 AC |
| Sale Type | Investment | Building Size | 12,372 SF |
| No. Units | 10 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1998 |
| Apartment Style | Townhome | ||
| Zoning | R-1 - Buncombe County R-1 Residential Max 2 units per lot & 10 units per acre | ||
| Price | $2,800,000 |
| Price Per Unit | $280,000 |
| Sale Type | Investment |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Townhome |
| Building Class | B |
| Lot Size | 2.85 AC |
| Building Size | 12,372 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1998 |
| Zoning | R-1 - Buncombe County R-1 Residential Max 2 units per lot & 10 units per acre |
Amenities
Unit Amenities
- Air Conditioning
- Cable Ready
- Heating
- Kitchen
- Tub/Shower
Site Amenities
- Tenant Controlled HVAC
- Walk-Up
- Smoke Detector
1 1
Not walkable
10/100
Exceptionally drivable
100/100
Not bikeable
10/100
Property Taxes
| Parcel Numbers | Improvements Assessment | $1,188,100 | |
| Land Assessment | $246,400 | Total Assessment | $1,434,500 |
Property Taxes
Parcel Numbers
Land Assessment
$246,400
Improvements Assessment
$1,188,100
Total Assessment
$1,434,500
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2147 Brevard Rd
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