Multi-Unit Property | 321 Stevens Lane
This truly unique multi-family investment property is situated along the picturesque Swannanoa River. Property consists of 7 stick-built homes, 2 of which contain two 1/1 duplexes for 9 total units – 14 total bedrooms, and 9 baths. The two duplex buildings (four 1 Bed / 1 Bath units) and one 2/1 unit have been completely renovated, with new cantilevered porches and privacy walls, and are ready for occupancy.
Two stand-alone units have been stripped to drywall and subfloor to make repairs, and the final two stand-alone units are in original form. All have been thoroughly cleaned, and a new HVAC system will be installed in all units prior to closing. All structures are raised to protect from flood exposure with parking underneath.
As of March 2024, more improvements are underway, to be completed before the end of the month. This includes renovating the remaining four standalone units to be move-in ready as long term rentals: deck repair, pressure washing, interior painting, installing new flooring, new appliances, and updated fixtures. HVAC repair has been completed.
Property has city water and sewer, and is zoned R-2. Pending zoning application / review, possible alternative uses include Vacation Rental, Bed and Breakfast, Childcare, Education, Family Care, Group Home, Health Care Facility, Home Occupation, Place of Worship, etc.
Convenient location with easy access to I-40 and US-70/Tunnel Rd., less than 10 minutes to Blue Ridge Parkway access, WNC Nature Center, Highland Brewing Company, and other East Asheville amenities. This one-of-a-kind property showcases the best of Asheville's ideal mountain lifestyle! Low County taxes mitigate operating expenses, and the existing seller finance note (at favorable terms) *might* be assignable for the correct buyer.
To book a showing or request offer instructions, contact Listing Manager Jessica Hunter at jessica@fireflyrealty.com.
