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Coburn Apartments 491 Kimberly Ave 32 Unit Apartment Building For Sale Asheville, NC 28804
INVESTMENT HIGHLIGHTS
- Historic Charm: Built in 1911 and listed on the National Historic Registry.
- Prime Asheville Location: Convenient access to downtown Asheville, local amenities, and employment hubs ensures strong rental demand.
- Stable Rental Market: Asheville’s vibrant economy and strong population growth support consistent occupancy and rental income.
- Diverse Unit Mix: The property features studio, 1-bedroom, and 2- bedroom units, appealing to a wide range of renters.
- Spacious 2.7-Acre Lot: Rare outdoor space provides potential for future enhancements, landscaping, or community amenities.
- Value-Add Potential: Opportunities exist to modernize select units or enhance common areas to increase rents and overall property value.
EXECUTIVE SUMMARY
Marcus & Millichap is pleased to present Coburn Apartments, a historic and well-located multifamily community in Asheville, NC. Built in 1911, this 32-unit property sits on 2.7 acres and features a versatile mix of studio, one-bedroom/one-bath, and two-bedroom/one-bath units. Coburn Apartments blends timeless architectural charm with functional living spaces, offering residents a comfortable and character-filled living experience. The property’s spacious grounds provide a sense of privacy and open space, a rare find in Asheville’s growing rental market.
Coburn Apartments is strategically positioned to capitalize on Asheville’s thriving economy, strong rental demand, and vibrant cultural scene. Residents enjoy convenient access to downtown Asheville’s employment centers, dining, entertainment, and outdoor recreational opportunities. With its historic appeal, diverse unit mix, and large lot size, Coburn Apartments offers investors a unique opportunity to acquire a well-established multifamily asset with long-term value and potential upside in one of Western North Carolina’s most desirable markets.
Coburn Apartments is strategically positioned to capitalize on Asheville’s thriving economy, strong rental demand, and vibrant cultural scene. Residents enjoy convenient access to downtown Asheville’s employment centers, dining, entertainment, and outdoor recreational opportunities. With its historic appeal, diverse unit mix, and large lot size, Coburn Apartments offers investors a unique opportunity to acquire a well-established multifamily asset with long-term value and potential upside in one of Western North Carolina’s most desirable markets.
DATA ROOM Click Here to Access
- Offering Memorandum
PROPERTY FACTS
| Sale Type | Investment | Building Class | C |
| No. Units | 32 | Lot Size | 2.70 AC |
| Property Type | Multifamily | Building Size | 22,958 SF |
| Property Subtype | Apartment | No. Stories | 1 |
| Apartment Style | Low-Rise | Year Built | 1911 |
| Zoning | RS4 - Residential | ||
| Sale Type | Investment |
| No. Units | 32 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 2.70 AC |
| Building Size | 22,958 SF |
| No. Stories | 1 |
| Year Built | 1911 |
| Zoning | RS4 - Residential |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 13 | - | 360 |
| 1+1 | 17 | - | 570 |
| 2+1 | 2 | - | 910 |
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PROPERTY TAXES
| Parcel Number | 9740-62-1757-00000 | Improvements Assessment | $1,911,306 CAD |
| Land Assessment | $172,121 CAD | Total Assessment | $2,083,428 CAD |
PROPERTY TAXES
Parcel Number
9740-62-1757-00000
Land Assessment
$172,121 CAD
Improvements Assessment
$1,911,306 CAD
Total Assessment
$2,083,428 CAD
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Coburn Apartments | 491 Kimberly Ave
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