380 W King St Boone, NC 28607

Located on West King Street and Wallace Circle in downtown Boone, NC, across the street from the campus of Appalachian State University, Campus Hill Apartments presents a rare real estate opportunity. This student housing property, situated on just under an acre of land, offers redevelopment potential. The property comprises seven separate buildings, featuring 54 apartment units and a total of 61 bedrooms. Currently operating at 100% occupancy, the property generates additional income from parking spaces and on-site laundry facilities. Its location provides convenient walking access to various amenities, including restaurants, bars, shops, parks, neighborhoods, grocery stores, drug stores, and hotels. The projected potential gross income (PGI) is $570,300 per year starting in August 2025. The property is located on five tax parcels as identified by Watauga County. Reported assessed value is all five tax parcels.