Residential Income
New
For Sale
$2,200,000
68 72 82 and 84 Oteen Church Road, Asheville, NC 28805
The Asheville property carries RS2 zoning and includes mountain views.
Property Size9,620 SF
Price / SF$228.69
Days on Market5
Property Features for 68 72 82 and 84 Oteen Church Road
General Information
Standard status
Active
Size
9,620 SF
Property subtype
Residential Income
Zoning
RS2
Amenities
Ceiling Fan(s), Central Air, Heat Pump
Forced Air, Heat Pump
Crawl Space, Apartment, Daylight, Exterior Entry, Interior Entry, Storage Space, Walk-Out Access, Walk-Up Access
Oven, Dishwasher, Electric Oven, Electric Range, Electric Water Heater, Gas Range, Microwave, Refrigerator, Warming Drawer, Washer/Dryer
Breakfast Bar, Built-in Features, Entrance Foyer, Open Floorplan, Storage, Walk-In Closet(s)
Gas Log, Great Room, Living Room, Wood Burning
Mountain(s)
Fenced, Back Yard, Full, Wood
Attached Carport, Circular Driveway, Driveway, Garage Faces Front, RV Access/Parking
Storage
Bungalow, Cabin, Contemporary, Cottage
Building Details
Building Size
9,620 SF
Year Built
2010
Stories
2
Listing Agency:
Keller Williams Professionals
Listed By:
Matt Tavener · License #231978
(828) 210-1697
Source:
Evrealestate
Added: Oct 26
Changed: Oct 27
Last Checked: Oct 28 at 8:06AM
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 Keller Williams Professionals
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Investment Insights
Based on property information with market context.
This residential income property comprises addresses 68, 72, 82, and 84 on Oteen Church Road in Asheville. The property was built in 2010 and is zoned RS2. Interior features listed across the property include central air, heat pumps, storage areas, and a mix of kitchen appliances. Exterior features include a fenced backyard, driveway parking, carport, and garage. Mountain views are also noted.
Showings are by appointment, and drive-by visits are not permitted.
Showings are by appointment, and drive-by visits are not permitted.
Key Highlights
- Four addresses: 68, 72, 82, and 84 Oteen Church Road
- Built in 2010
- RS2 zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$93,781
Cap Rate
4.26%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,875,620
$1.9M
Cap Rate 7%
$1,339,729
$1.3M
Cap Rate 9%
$1,042,011
$1.0M
Market Conditions
NOI Build-Up for 9,620 SF
Gross rent
$195.1K $20.28/SF
− Vacancy
−$24.6K −$2.56/SF
EGI
$170.5K $17.72/SF
− OpEx
−$76.7K −$7.98/SF
NOI
$93.8K $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%
$1,875,620
Cap Rate 7%
$1,339,729
Cap Rate 9%
$1,042,011
Alternative Uses
Best Use
Apartment 5plus
$1.34M
$1.17M – $1.56M
NOI $93,781 @ 7.0% cap · market cap 4.26%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.04M
$2.66M – $3.55M
NOI $212,938 @ 7.0% cap · market cap 9.68%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
535
Businesses Nearby
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Business Placement
Demographics for 28805, NC
18,554
Population
10,737
Households
1.7
Avg Household Size
48
Median Age
49%
College-Educated
96%
High-School Grad
26.5 sq mi
ZIP Area
700
Density / Sq Mi
$67,104
Median Household Income
$35,897
Median Earnings
$1,198
Median Rent
$360,600
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - The Asheville property carries RS2 zoning and includes mountain views.
Where is this residential income property located?
The property is located at 68 72 82 and 84 Oteen Church Road Asheville, NC.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: Four addresses: 68, 72, 82, and 84 Oteen Church Road; Built in 2010; RS2 zoning
