500 Lynn Cove RdAsheville, NC 28804

This exceptional three-story, single-family home nestled on nearly five acres in Asheville, North Carolina, presents a lucrative short-term rental investment opportunity. Boasting 2,845 square feet, the property includes three bedrooms, multiple bonus rooms, two primary suites on the main level, and a separate heated laundry room. A bonus room with a kitchenette and private entrance is located upstairs, while another bonus room is situated in the basement. The home also features a one-car garage and expansive decks perfect for entertaining. Situated on Beaverdam Creek, the property offers tranquility and privacy, with easy access to the Blue Ridge Parkway, Grove Park Inn, Country Club of Asheville, and downtown Asheville (within 15 minutes). The property's 2023 gross rental income was $123,000, accommodating up to 19 guests in its current configuration. The septic system is undergoing an upgrade to support a four-bedroom configuration, expected to be completed by the end of July. The property's location is 500 Lynn Cove Rd, Asheville, NC 28804, with APN 9761-02-7541-00000. Built in 1990, this property offers a unique blend of luxury, convenience, and high rental potential. The asking price is $1,050,000, representing a price per square foot of $369.07 and a land value of $50,000 per acre. The current occupancy rate is 20%, with the occupancy date set for June 17, 2024.