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Apartment Buildings with Shared Spa

108 Lakewood Drive, Asheville, NC 28803

For Sale
$1,900,000

Residential Income, Asheville, NC

Property SizeContact for details
Lot Size1.38 Acres
Days on Market789

Property Features for 108 Lakewood Drive

General Information

Property type Residential Multi Family
Property subtype Other
Zoning RS8
Zoning description RS8
Bedrooms 4
Bathrooms 8
Full bathrooms 4
Half bathrooms 4
Rooms Bathroom 1, Bedroom 4, Bathroom 8, Bathroom 2, Bathroom 3, Basement, Bedroom 3, Bathroom 7, Bedroom 1, Laundry Room, Bathroom 6, Bathroom 5, Bedroom 2, Bathroom 4
Parking features Garage, Garage - Attached, Driveway, Underground/Basement
Window features Insulated Windows, Skylight(s)
Patio and Porch features Deck, Patio, Porch
Pets allowed Call
Interior features Attic Other, Attic Walk In, Built-in Features, Cable Prewire, Sauna, Storage
Exterior features Rainwater Catchment
Fireplace 1
Basement Interior Entry, Unfinished, Storage Space, Exterior Entry, Walk-Up Access, Walk-Out Access
Appliances Dishwasher, Disposal, Electric Range, Gas Water Heater, Refrigerator, Tankless Water Heater, Washer/Dryer
Subdivision Kenilworth
Lot features Orchard(s), Private, Rolling Slope, Wooded, Views
Elementary school Asheville City
Middle school Asheville
High school Asheville
Directions Use Google Maps with "122 Lakewood Dr." to enter the property across from the Leah Chiles park. Follow the driveway past the the cottages on the right and continue to the main house, or stop at the cottages first, if you'd like. 108 Lakewood Dr. will take you to a trail entrance at the bottom of the property marked with prayer flags.
Standard status Active
APN 9648-93-5848-00000
Lot size 1.38 Acres

Taxes and HOA fees

Tax Description DEED DATE: 2022-09-30 DEED: 6263-937 SUBDIV: BLOCK: LOT: SECTION: PLAT: 0140-0153
Legal Description DEED DATE: 2022-09-30 DEED: 6263-937 SUBDIV: BLOCK: LOT: SECTION: PLAT: 0140-0153

Utilities

Utilities Cable Available
Sewer type Public Sewer
Heating system Radiant Floor, Radiant, Steam, Natural Gas
Cooling system Ceiling Fan(s)

Amenities

spa
organic cedar plank sauna
mandala brick courtyard
trails

Building Details

Year built 1926
Number of units 5
Flooring type Tile, Wood, Concrete
Building materials Hard Stucco, Hardboard Siding, Stone, Wood
Roof type Shingle
Architectural style Tudor, Cottage
Additional Structures Storage, Other
Listing Agency: Keller Williams Professionals · Keller Williams Realty
Listed By: Maurie Hill · License NC #311115
Added: Sep 13, 2024 Changed: Nov 6 Last Checked: Nov 10 at 8:06PM
MLS# 4183083

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.

Rey
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Investment Insights

Based on property information with market context.

This multifamily property combines four dwellings arranged within two cottage-style buildings, along with a 1926 Tudor residence and a shared spa. The improvements include a cedar-plank sauna, brick courtyard, decks, porches, patios, fireplaces, storage areas, and garage parking. Interior features include wood and tile flooring, built-in elements, walk-in attic space, radiant and steam heating, and tankless water heating.

The property occupies 1.38 acres in Asheville’s Kenilworth area, directly across from Leah Chiles Park. A wooded setting includes mature conifers and trails, while public sewer and cable availability serve the site. RS8 zoning, attached and detached garage parking, rainwater catchment, and the Tudor and cottage architectural styles further define the property.

Key Highlights

  • Four dwellings arranged within two cottage‑style buildings
  • Shared spa with cedar‑plank sauna and brick courtyard
  • 1.38‑acre wooded property across from Leah Chiles Park

Property Analytics

Who owns this building? See the owner, sales and loan history
Open Analytics

Current Use

Spa & wellness properties

Suggested Use

Top Pick Law Firm Electrical Service HVAC Service (Bike/Boat/Book/etc) Store Catering Service Plumbing Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

4
Residential units

Location Intelligence

Trade Area within ½ mile

625
Businesses Nearby

Demographics for 28803, NC

34,108
Population
18,322
Households
1.9
Avg Household Size
43
Median Age
50%
College-Educated
93%
High-School Grad
38.4 sq mi
ZIP Area
888
Density / Sq Mi
$70,638
Median Household Income
$41,057
Median Earnings
$1,455
Median Rent
$408,600
Median Home Value
Check the figures for this property Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics

Market

Vacancy Rate% for Multifamily in South region

8.5% 2022
10.2% 2023
11.4% 2024
11.3% 2025

Frequently Asked Questions

What type of property is this?
Apartment building - Four dwellings include cottage-style residences and a shared spa.
Where is this apartment building located?
The property is located at 108 Lakewood Drive Asheville, NC.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: Four dwellings arranged within two cottage‑style buildings; Shared spa with cedar‑plank sauna and brick courtyard; 1.38‑acre wooded property across from Leah Chiles Park
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