Listed by NAI Beverly-Hanks
$1,850,000
615 Biltmore Ave.
Details
APN 9648520324C00I3, 9648520324C00I4, 9648520324C00P3, 9648520324C00S4, 9648520324C00T6, 9648520324C0F10
Property Type Multifamily
Sub Type Apartment Building
Square Footage 5,410
Units 8
Cap Rate 5.6%
NOI $103,575
Tenancy Multi
Pro-Forma Cap Rate 7.4%
Pro-Forma NOI $136,860
Price per SqFt $342
Year Built 1949
Zoning RM16
Multifamily | 8 Units | $231,250/unit
Marketing description
Rare 8-unit investment opportunity in the sought-after Beverly Condominiums. This portfolio includes six 1BR/1BA units and two 2BR/2BA units, offering a strong unit mix for consistent rental demand. Ideally located with excellent walkability to shopping, dining, and Mission Hospital, and just minutes to downtown Asheville and Biltmore Village. The community is quiet and well-maintained, appealing to long-term tenants seeking a peaceful residential setting. Each unit offers a low-maintenance, lock-and-go lifestyle, making ownership streamlined and efficient. A compelling opportunity to acquire scale in a proven Asheville location with enduring rental appeal. Rental history available upon request.
Listing Contacts
Listed by NAI Beverly-Hanks
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$103,574.66
$8,631.22/mo
Valuation Metrics
0
DSCR
5.6%
Cap Rate
5.6%
ROI
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