Historic Multifamily Apartment
For Sale
Contact for pricing
491 Kimberly Ave, Asheville, NC 28804
Established apartment property with varied floor plans and expansive grounds near Asheville’s downtown employment and cultural amenities.
Property Size16,200 SF
Lot Size2.70 Acres
Days on Market151
Property Features for 491 Kimberly Ave
General Information
Standard status
Active
Size
16,200 SF
Lot size
2.70 Acres
Property subtype
Multifamily
Occupancy
91%
Additional Details
Multifamily Units
32
Amenities
Historic Charm: Built in 1911 and listed on the National Historic Registry, Coburn Apartments offers distinctive architectural character that sets it apart in the Asheville rental market.
Diverse Unit Mix: The property features studio, 1-bedroom, and 2- bedroom units, appealing to a wide range of renters.
Prime Asheville Location: Convenient access to downtown Asheville, local amenities, and employment hubs ensures strong rental demand.
Spacious 2.7-Acre Lot: Rare outdoor space provides potential for future enhancements, landscaping, or community amenities.
Stable Rental Market: Asheville's vibrant economy and strong population growth support consistent occupancy and rental income.
Value-Add Potential: Opportunities exist to modernize select units or enhance common areas to increase rents and overall property value.
Building Details
Building Size
16,200 SF
Year Built
1911
Units
32
Listing Agency:
Charlotte Uptown Office
(704) 831-4633
Listed By:
Isaiah Shatz · License #NC: 361193, SC: 145198
(704) 831-4633
Source:
Marcusmillichap
Added: Apr 3
Changed: Aug 30
Last Checked: Aug 30 at 10:51PM
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 Charlotte Uptown Office
Investment Insights
Based on property information with market context.
Built in 1911, this 32-unit apartment property occupies 2.7 acres in Asheville. The unit mix includes studios, one-bedroom/one-bath apartments, and two-bedroom/one-bath apartments, creating a range of residential layouts within a historic multifamily setting.
The property is located near downtown Asheville, with access to employment centers, restaurants, entertainment, and outdoor recreation. Its substantial site provides open grounds and separation from surrounding activity, while the established apartment configuration supports a range of residential occupancy needs.
The property is located near downtown Asheville, with access to employment centers, restaurants, entertainment, and outdoor recreation. Its substantial site provides open grounds and separation from surrounding activity, while the established apartment configuration supports a range of residential occupancy needs.
Key Highlights
- 32‑unit apartment property built in 1911
- 2.7‑acre site in Asheville, NC
- Unit mix includes studios, one‑bedroom/one‑bath, and two‑bedroom/one‑bath apartments
Property Analytics
Property Profile
Current Use
Lease Details
32
Residential units
Location Intelligence
Trade Area within ½ mile
616
Businesses Nearby
Explore this area
Business Placement
Demographics for 28804, NC
23,964
Population
11,716
Households
2
Avg Household Size
44
Median Age
60%
College-Educated
93%
High-School Grad
28.7 sq mi
ZIP Area
835
Density / Sq Mi
$79,709
Median Household Income
$37,169
Median Earnings
$1,399
Median Rent
$528,500
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Established apartment property with varied floor plans and expansive grounds near Asheville’s downtown employment and cultural amenities.
Where is this apartment building located?
The property is located at 491 Kimberly Ave Asheville, NC.
What are key features of this property?
This property features: 32‑unit apartment property built in 1911; 2.7‑acre site in Asheville, NC; Unit mix includes studios, one‑bedroom/one‑bath, and two‑bedroom/one‑bath apartments
