8-Unit Furnished Apartment
375 Weaverville Road, Asheville, NC 28804
For Sale
$1,100,000
Monthly furnished apartments include private outdoor decks and on-site coin-operated laundry.
Property Size4,913 SF
Price / SF$223.90
Days on Market102
Property Features for 375 Weaverville Road
General Information
Standard status
Size
Property subtype
Zoning
Units
Unit Mix
Multifamily Units
Tenancy & Operations
Currently Operating
Tenant in Place
Additional Details
Furnished
Highway Access
Amenities
on-site coin-operated laundry
private decks
Building Details
Building Size
Year Built
Buildings
Listing Agency:
Moving Mountains Property Group LLC
Listed By:
Lisa Hagan
(828) 779-5404
Source:
Elevateasheville
Added: Jul 31
Changed: Nov 7
Last Checked: Nov 8 at 7:32PM
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 Moving Mountains Property Group LLC
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Investment Insights
Based on property information with market context.
This 4,913-square-foot apartment property dates to 1940 and contains eight furnished units: two with two bedrooms and six with one. Interiors feature open layouts, hardwood floors, tiled bathrooms, and updated kitchens, with private decks at the apartments. Coin-operated laundry serves the property, and furnishings and appliances are included in the sale.
The parcel measures just under one acre, with mature landscaping and designated tenant parking. The property has access to Hwy 25 and I-26, with Downtown Asheville 6 miles away and Downtown Weaverville less than 3 miles away. Community shopping zoning permits lodging and group homes.
The parcel measures just under one acre, with mature landscaping and designated tenant parking. The property has access to Hwy 25 and I-26, with Downtown Asheville 6 miles away and Downtown Weaverville less than 3 miles away. Community shopping zoning permits lodging and group homes.
Key Highlights
- Eight furnished apartments: two 2‑bedroom units and six 1‑bedroom units
- 4,913 square feet; built in 1940
- Just under an acre with mature landscaping and designated tenant parking
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$47,895
Cap Rate
4.35%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$957,900
$957.9K
Cap Rate 7%
$684,214
$684.2K
Cap Rate 9%
$532,167
$532.2K
Market Conditions
NOI Build-Up for 4,913 SF
Gross rent
$99.6K $20.28/SF
− Vacancy
−$12.6K −$2.56/SF
EGI
$87.1K $17.72/SF
− OpEx
−$39.2K −$7.98/SF
NOI
$47.9K $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%
$957,900
Cap Rate 7%
$684,214
Cap Rate 9%
$532,167
Alternative Uses
Best Use
Apartment 5plus
$684.2K
$598.7K – $798.3K
NOI $47,895 @ 7.0% cap · market cap 4.35%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.55M
$1.36M – $1.81M
NOI $108,749 @ 7.0% cap · market cap 9.89%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
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Lease Details
8
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
158
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
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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 - Monthly furnished apartments include private outdoor decks and on-site coin-operated laundry.
Where is this apartment building located?
The property is located at 375 Weaverville Road Asheville, NC.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Eight furnished apartments: two 2‑bedroom units and six 1‑bedroom units; 4,913 square feet; built in 1940; Just under an acre with mature landscaping and designated tenant parking
