Unlock a rare high-yield investment opportunity in the sought-after Enka area of Asheville. Situated on 2.06 acres, this versatile property includes a single-family home plus five mobile home lotsthree with existing homes includedoffering multiple income streams and significant upside potential. Based on previous and current market rent projections, the property has the potential to generate approximately $85,200 annually in its current state, with estimated expenses of ~$11,470/year, resulting in a projected NOI of nearly $74,000. Value-add opportunities include increasing below-market rents, filling two vacant mobile home pads, and leasing the garage/shop for additional income. Light improvements such as paint, flooring, and system updates could further enhance rental performance and overall value. Conveniently located just 5 minutes to Brevard Road and Asheville Outlets, 10 minutes to North Carolina Arboretum and Blue Ridge Parkway access, and 15 minutes to Downtown Asheville, this property offers strong rental demand drivers and long-term growth potential. Main home does not currently have a functioning heat source, but seller will install baseboard heaters if required for a loan. A compelling opportunity for investors seeking to create value and build cash flow in one of Asheville’s most accessible and desirable areas.
| MLS # | 4368987 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Year | 1961 |
| Days On Site | 137 |
| Listing Provided By | Keller Williams Professionals | Brad Harrison |
| Bed(s) | 11 |
|---|---|
| Bath(s) | 7 Total |
| SQ Feet | 3,325 |
| Garage | 1 |
| Basement | Y |
| Story(s) | 1 |
| Units | 4 |
| Zoning | R-3 |
| Acreage | 2.06 |
| Cooling | Ceiling Fan(s) |
|---|---|
| Heating | Heat Pump |
| Appliances | Other |
| Roof | Architectural Shingle |
|---|---|
| Construction Materials | Vinyl |
| Foundation Details | Basement |
| Lot Features | Cleared, Level, Open Lot, Private, Wooded |
| Garage Yes / No | Yes |
|---|---|
| Parking Features | Driveway, Attached Garage |
| List Aor | Land of The Sky Association of Realtors |
|---|
| Property | 230600 |
|---|
| State | NC |
|---|---|
| County | Buncombe |
| City | Asheville |
| Zip Code | 28806 |
| Area | Buncombe |
| School District | Enka |
| Elementary School | Sand Hill-Venable/Enka |
| High School | Enka |
| Listing VS Median (in 28806) | |
Price: $600,000 low | high Med: $464,900 sqft: 3,325 low | high Med: 1,357 $ / sqft: $180 low | high Med: $343 On site: 137 low | high Med: 26.5 | |
| State | NC |
|---|---|
| County | Buncombe |
| City | Asheville |
| Zip Code | 28806 |
| Area | Buncombe |
| School District | Enka |
| Elementary School | Sand Hill-Venable/Enka |
| High School | Enka |
| Listing VS Median (in 28806) | |
Price: $600,000 low | high Med: $464,900 sqft: 3,325 low | high Med: 1,357 $ / sqft: $180 low | high Med: $343 On site: 137 low | high Med: 26.5 | |