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Closed

500 W Allen Street

Hendersonville, NC 28739

Closed Closed Apr 30, 2021 Listing ID CAR 69703708

$1,150,000

$97/Sq Ft

Sold

24 bd · 23 ba · 11,915 sqft · $97/sqft

24 Beds
23 Baths
11,915 Sq Ft
$97/Sq Ft
1989 Built
1.88 acres Apartment Toms Hill Park Listed Feb 20, 2021 Updated May 2, 2021 HOA None

About This Home

Excellent investment opportunity in downtown Hendersonville with a 10% cap rate that could easily be increased with current market rent. This unique property comprises 5 buildings consisting of 22 apartments and a storage unit that could be converted into an additional rental. A total of 13 lots compose the 1.

88 (+/-) acres with lot 50 & 60 vacant. CASH COW with 100% occupancy for 9+ years with majority long-term tenants. This property is located within a quarter mile from Main Street making it comfortably walkable to restaurants, shopping, breweries, bus stops and grocery stores.

Ideal rental for those that don't have vehicles. Property features include ceramic tile floors throughout units for easy maintenance, wooden cabinetry, laminate countertops, exterior decking, newer refrigerators and ovens and off-street parking. Please refer to attached property overview for apartment unit details.

Please do not disturb residents. Contact agent if buyer is interested in viewing interiors.

Property Details

Interior Details

Heating
  • Wall Furnace
Flooring
  • Tile
Roomcount
0
Sqftother
0
Exclusions
Window A C Units belong to Tenants
Sqftgarage
0
Half Bathrooms
2
Laundry Features
  • Other - See Remarks
Mainlevelgarageyn
0
Sqftunheatedbasement
0

Square Footage And Levels

Below Grade Finished Area
0

Parking And Garage

Open Parking
true
Parking Features
  • Parking Space(s)
Open Parking Spaces
4
Total Parking Spaces
22

Exterior Features

Roof
  • Shingle
  • Metal
  • Other - See Remarks
Exterior Features
  • Storage
Construction Materials
  • Vinyl
  • Wood
Patio And Porch Features
  • Covered
  • Deck
  • Front Porch

Lot And Land

Lot Size
1.88
Lot Features
  • Cleared
  • Level
  • Sloped
  • Wooded
Lot Size Units
Acres

Basement And Foundation

Foundation Details
  • Crawl Space
  • Slab

Waterfront And View

View
  • City
Waterfront Features
  • None

Utilities

Sewer
  • Public Sewer
Utilities
  • Cable Available
Water Source
  • City

Financial Information

Citytaxespaidto
Henderson
Hoasubjecttodues
No

Zoning And Restrictions

Zoningspecification
R-6

Multi Unit Details

Total Number Of Units
22

Listed by Kristi Brannon (828-696-2173) · Two Trails LLC (828-696-2173)

Location

Address
500 W Allen Street
City
Hendersonville, NC 28739
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Schools

Elementary
Bruce Drysdale
Middle
Hendersonville
High
Hendersonville

School assignments may change. Contact the school district to confirm.

Canopy MLS

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