5-Unit Apartment Building with On-Site
For Sale
$750,000
130 Edwin Place, Asheville, NC 28801
The property offers four one-bedroom apartments, one two-bedroom unit, individual storage bins, and off-street parking.
Property Size2,792 SF
Price / SF$268.62
Days on Market63
Property Features for 130 Edwin Place
General Information
Standard status
Active
Size
2,792 SF
Property subtype
Apartment
Units
Unit Mix
4 x 1BR, 1 x 2BR
Multifamily Units
5
Amenities
on-site laundry
designated off-street parking
storage bins
Building Details
Building Size
2,792 SF
Year Built
1923
Buildings
1
Listing Agency:
Howard Hanna Beverly-Hanks Asheville-North
Listed By:
James Blue · License #116074
(828) 778-3220
Source:
Elevateasheville
Added: Aug 28
Changed: Oct 27
Last Checked: Oct 27 at 3:48AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Howard Hanna Beverly-Hanks Asheville-North
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Investment Insights
Based on property information with market context.
Built in 1923, this 2,792-square-foot apartment building contains five units: four one-bedroom apartments and one two-bedroom apartment. Hardwood floors and built-in linen storage are among the interior features. Each residence has a designated 3-by-8-foot storage bin, and the building includes on-site laundry and off-street parking. The roof was installed in 2021.
The property is at 130 Edwin Place in Asheville, with access to downtown Asheville.
The property is at 130 Edwin Place in Asheville, with access to downtown Asheville.
Key Highlights
- Five apartments: four one‑bedroom units and one two‑bedroom unit
- 2,792 square feet; built in 1923
- On‑site laundry and designated off‑street parking
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,218
Cap Rate
3.63%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$544,360
$544.4K
Cap Rate 7%
$388,829
$388.8K
Cap Rate 9%
$302,422
$302.4K
Market Conditions
NOI Build-Up for 2,792 SF
Gross rent
$56.6K $20.28/SF
− Vacancy
−$7.1K −$2.56/SF
EGI
$49.5K $17.72/SF
− OpEx
−$22.3K −$7.98/SF
NOI
$27.2K $9.75/SF
Area
Buncombe County, NC
Vacancy
12.60%
Lease Rate
$20.28 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$544,360
Cap Rate 7%
$388,829
Cap Rate 9%
$302,422
Alternative Uses
Best Use
Apartment 5plus
$388.8K
$340.2K – $453.6K
NOI $27,218 @ 7.0% cap · market cap 3.63%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$882.9K
$772.5K – $1.03M
NOI $61,801 @ 7.0% cap · market cap 8.24%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
1,194
Businesses Nearby
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Business Placement
Demographics for 28801, NC
15,148
Population
8,490
Households
1.8
Avg Household Size
39
Median Age
53%
College-Educated
93%
High-School Grad
5.1 sq mi
ZIP Area
2,970
Density / Sq Mi
$51,125
Median Household Income
$38,829
Median Earnings
$1,130
Median Rent
$481,400
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - The property offers four one-bedroom apartments, one two-bedroom unit, individual storage bins, and off-street parking.
Where is this apartment building located?
The property is located at 130 Edwin Place Asheville, NC.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Five apartments: four one‑bedroom units and one two‑bedroom unit; 2,792 square feet; built in 1923; On‑site laundry and designated off‑street parking
