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    68/72/82/84 Oteen Church Rd Asheville, NC 28805

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    Sponsored
    For Sale
    $2,900,000

    MULTI_FAMILY - Asheville, NC

    Lot size:
    4.79 Acres
    Days on Market:
    10
    Last Refresh:
    Mar 30 at 10:06 pm

    Property Features for 68/72/82/84 Oteen Church Rd

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Zoning
    RS2
    Rooms
    Bedroom 6, Bathroom 8, Bathroom 9, Bedroom 12, Laundry Room, Bedroom 9, Bathroom 6, Bathroom 2, Bathroom 11, Bedroom 5, Bedroom 2, Bedroom 3, Basement, Bathroom 5, Bathroom 3, Bedroom 7, Bathroom 10, Bathroom 4, Bathroom 12, Bedroom 8, Bedroom 4, Bedroom 11, Bedroom 1, Bedroom 13, Bathroom 1, Bedroom 10, Bathroom 7
    Bedrooms
    13
    Bathrooms
    12
    APN
    9668-34-7988-00000
    Parking features
    Carport, Garage - Attached, Driveway
    Patio and Porch features
    Porch, Patio
    Fireplace
    1
    Basement
    Finished, Apartment
    Appliances
    Dishwasher, Disposal, Double Oven, Electric Range, Electric Water Heater, Exhaust Fan, Exhaust Hood, Gas Cooktop, Gas Oven, Gas Range, Gas Water Heater, Microwave, Refrigerator, Refrigerator with Ice Maker, Wall Oven
    Lot size
    4.79 Acres

    Utilities

    Utilities
    Cable Available
    Heating system
    Electric (Heating), Floor Furnace, Heat Pump (Heating), Central
    Cooling system
    Electric, Central Air, Heat Pump

    Building Details

    Year built
    2010
    Number of units
    4
    Flooring type
    Wood, Tile
    Building materials
    Fiber Cement, Log, Vinyl, Wood
    Roof type
    Shingle
    Additional Structures
    Gazebo

    We can help!

    Listing Contact
    Shayne Hollifield

    Noble and Company Realty

    Listing agent Shayne Hollifield

    Listing date Mar 21, 2026

    MLS# 4280406

    Copyright © 2026 Canopy MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Asheville Multi-Home Rental Compound

    This 4.79-acre property features a private retreat less than 5 miles from downtown Asheville and less than a mile from the Blue Ridge Parkway. The property includes three separate homes used as rentals, plus a fourth structure offering two completely private homes with a shared entry lobby, and a lower-level apartment overlooking a saltwater pool. This compound is suitable for investors, a private family estate, generational living, or a legacy property. The location provides a secluded oasis close to culture, dining, and outdoor activities. The property is located in the City of Asheville where short-term rentals are not permitted. Most photos in the listing are of #72 with exterior photos of the remaining three homes.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Single family properties

    Map

    City
    Asheville
    County
    Buncombe
    State
    North Carolina
    Longitude
    -82.484972
    Latitude
    35.582168

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    FAQs

    What type of property is this?
    Single family property - 4.79-acre private retreat with multiple rental homes near downtown Asheville.
    Where is this single family property located?
    The property is located at 68/72/82/84 Oteen Church Rd Asheville, NC.
    What is the asking price?
    The asking price for this property is $2,900,000.
    What are key features of this property?
    This property features: - Income-producing property featuring 3 separate rental homes, plus a 4th structure offering 2 homes and an apartment, creating a potential rental portfolio.; - Enjoy a 4.79-acre private retreat less than 5 miles from downtown Asheville and less than a mile from the Blue Ridge Parkway.; - Suitable for investors, private family estate, generational living, or a legacy property.
    (828) 243-9299
    Request Owner's contact information
    68/72/82/84 Oteen Church Rd Asheville, NC 28805
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    Asheville, NC 28805
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    68/72/82/84 Oteen Church Rd Asheville, NC 28805
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