520 Alleghany Spur Rd Traphill, NC 28685
- Residential income homes
- 2,002 SF
- 22.83 lot acres
Current Use by Public Records
- Residential income homes
Property Details for 520 Alleghany Spur Rd
- Year built
- 1998
- Lot size
- 22.83 lot acres
- Property size
- 2,002 SF
- Property type
- Residential income homes
- APN
- 1902497
Description
Exceptional investment opportunity in Traphill, NC, featuring two charming log cabins and a yurt on 22.83 wooded acres. This turnkey short-term rental portfolio boasts two units, each with two bedrooms and one bathroom, complete with modern amenities such as new ductless mini-split air conditioning systems and fiber optic internet. Both cabins include wood-burning fireplaces and wood stoves, offering a cozy and rustic atmosphere. A laundry facility building and a wooden bridge enhance the property's appeal. The property generates significant rental income, averaging $6,300 per month in gross revenue over the past year, resulting in a strong NOI of $59,415 and an 8.50% cap rate. Built in 1995 and 1998, the cabins are situated near Stone Mountain State Park, the Blue Ridge Parkway, and various outdoor recreational opportunities, including wineries, rivers, trout fishing, hiking trails, and shopping/dining. The property also offers ample space for expansion and is ideal for hunting deer, bear, and turkey, with nearby game lands and world-class trout streams. The asking price is $699,000. A stream runs along the eastern boundary. The total square footage is 2,002. The seller may consider assisting with short-term rental management for a fee.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Traphill
- County
- Wilkes
- State
- North Carolina
- Longitude
- -81.022402
- Latitude
- 36.351595
