90 Kimbrell Ln Sylva, NC 28779

Property Details for 90 Kimbrell Ln

Year built

1997

Lot size

2.79 lot acres

Property size

15,032 SF

Property type

Commercial real estate

Description

This exceptional investment opportunity in Sylva, North Carolina, presents a portfolio of three buildings comprising fourteen rental units. Two buildings feature four garden-style apartments each, while a third building houses six apartments. Each garden-style apartment boasts two bedrooms and two bathrooms, complete with in-unit washer and dryer hookups. Tenants are responsible for their own electricity and water bills, simplifying management. The property sits on a generous 2.79-acre lot, offering significant potential for expansion. Currently, the property features 15,032 square feet of existing building space. The existing rental income is below market value, presenting a clear path to increased profitability through rent adjustments. The property's location in a desirable neighborhood makes it particularly attractive as off-campus housing. The high demand for rental apartments in this area further underscores the investment potential. A significant upside exists in the potential to construct an additional building on the ample available land, further increasing the number of rental units and overall revenue. Based on comparable sales, the property's value is estimated to be approximately $1,600,000, excluding future growth potential. This is a rare chance to acquire a well-positioned multifamily property with substantial room for appreciation.