5-Unit Apartment
19 Saluda Street, Asheville, NC 28806
For Sale
$949,500
Pending
The unit mix includes four one-bedroom apartments and a ground-level studio, with shared laundry in the basement.
Property Size4,952 SF
Days on Market15
Property Features for 19 Saluda Street
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Zoning
Units
Unit Mix
Multifamily Units
Amenities
back decks
common laundry
storage space
Basement Garage Door,Unfinished,Walk-Out Access
Linoleum,Vinyl,Wood
No
Yes
5
Common Area,In Basement,Laundry Room
4952
City
0.15
There is on street and off street parking available..(Parking
Spaces: 3)
On Street,Parking Space(s),Other - See Remarks
Concrete,Paved
Lawn Maintenance
Basement
Publicly Maintained Road
Building Details
Building Size
Year Built
Buildings
Stories
Listing Agency:
(423) 973-8634
Listed By:
Corey Blaske
Source:
Greaterimpactrealty
Added: Oct 26
Changed: Nov 8
Last Checked: Nov 8 at 12:23PM
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 Corey Blaske
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Investment Insights
Based on property information with market context.
This 4,952-square-foot apartment property contains five units: four one-bedroom apartments of approximately 926 square feet each and a ground-level studio of approximately 764 square feet. The apartments have original hardwood floors, while the studio has luxury vinyl tile. Back decks serve the main- and upper-level units. Basement space includes a common laundry area with coin-operated commercial-grade washer and dryer, along with approximately 300 square feet of heated, partially finished area for mechanical equipment and laundry. An additional approximately 350 square feet of basement storage space is identified as available.
The property is at 19 Saluda Street in Asheville, one block north of Haywood Road. Three off-street parking spaces are available, and on-street parking is also noted. The building dates to 1921 and is zoned RM8.
The property is at 19 Saluda Street in Asheville, one block north of Haywood Road. Three off-street parking spaces are available, and on-street parking is also noted. The building dates to 1921 and is zoned RM8.
Key Highlights
- Five apartments: four approximately 926‑square‑foot one‑bedroom units and one approximately 764‑square‑foot studio
- 4,952‑square‑foot property built in 1921; zoned RM8
- Approximately 300 square feet of heated, partially finished mechanical and laundry area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$48,275
Cap Rate
5.08%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$965,500
$965.5K
Cap Rate 7%
$689,643
$689.6K
Cap Rate 9%
$536,389
$536.4K
Market Conditions
NOI Build-Up for 4,952 SF
Gross rent
$100.4K $20.28/SF
− Vacancy
−$12.7K −$2.56/SF
EGI
$87.8K $17.72/SF
− OpEx
−$39.5K −$7.98/SF
NOI
$48.3K $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%
$965,500
Cap Rate 7%
$689,643
Cap Rate 9%
$536,389
Alternative Uses
Best Use
Apartment 5plus
$689.6K
$603.4K – $804.6K
NOI $48,275 @ 7.0% cap · market cap 5.08%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.57M
$1.37M – $1.83M
NOI $109,612 @ 7.0% cap · market cap 11.54%
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
938
Businesses Nearby
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Business Placement
Demographics for 28806, NC
44,621
Population
21,185
Households
2.1
Avg Household Size
37
Median Age
45%
College-Educated
91%
High-School Grad
38.1 sq mi
ZIP Area
1,171
Density / Sq Mi
$59,925
Median Household Income
$37,743
Median Earnings
$1,224
Median Rent
$335,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - The unit mix includes four one-bedroom apartments and a ground-level studio, with shared laundry in the basement.
Where is this apartment building located?
The property is located at 19 Saluda Street Asheville, NC.
What is the asking price?
The asking price for this property is $949,500.
What are key features of this property?
This property features: Five apartments: four approximately 926‑square‑foot one‑bedroom units and one approximately 764‑square‑foot studio; 4,952‑square‑foot property built in 1921; zoned RM8; Approximately 300 square feet of heated, partially finished mechanical and laundry area
