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Sunset Farms Cabins 68 Vacation Dr 7 Unit Apartment Building $1,935,500 CAD ($276,500 CAD/Unit) 6.67% Cap Rate Whittier, NC 28789
INVESTMENT HIGHLIGHTS
- Conversion Opportunity to Short-Term Rentals
- Prime Outdoor Recreation Location: Located near the Great Smoky Mountains, Fontana Lake, and Appalachian Trail, attracting year-round visitors.
- Revenue Growth Potential: Conversion to short-term rentals could generate premium nightly rates and maximize cash flow.
- Diverse Unit Mix: Features one-, two-, and five-bedroom cabins, appealing to a wide range of guest groups.
- Proximity to Asheville: Offers guests easy access to cultural amenities while maintaining a secluded, scenic retreat.
- Limited Local Competition: Few comparable cabin properties in the area allow for differentiation and strong occupancy potential.
EXECUTIVE SUMMARY
Marcus & Millichap is pleased to present Sunset Farm Cabins, a 7-unit property in Western North Carolina with strong potential as a short-term rental investment. The property currently operates as long-term rentals and includes 2 one-bedroom/one-bath, 4 two-bedroom/one-bath, and 1 five-bedroom/three-bath cabin, offering a versatile mix of accommodations for families, couples, and larger groups. Nestled in the scenic foothills of the Great Smoky Mountains, Sunset Farm Cabins provides investors an opportunity to capitalize on the growing short-term rental market in Whittier and the surrounding region.
While currently leased as long-term rentals, the property is ideally positioned for conversion to short-term vacation rentals. Investors can leverage the area’s year-round tourism, limited high-quality cabin supply, and proximity to major attractions to generate strong revenue potential. With diverse unit types and flexible management options, Sunset Farm Cabins represents a compelling opportunity for investors seeking both immediate income and long-term upside in the vacation rental market.
While currently leased as long-term rentals, the property is ideally positioned for conversion to short-term vacation rentals. Investors can leverage the area’s year-round tourism, limited high-quality cabin supply, and proximity to major attractions to generate strong revenue potential. With diverse unit types and flexible management options, Sunset Farm Cabins represents a compelling opportunity for investors seeking both immediate income and long-term upside in the vacation rental market.
DATA ROOM Click Here to Access
- Offering Memorandum
PROPERTY FACTS
| Price | $1,935,500 CAD | Apartment Style | Garden |
| Price Per Unit | $276,500 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 4.00 AC |
| Cap Rate | 6.67% | Building Size | 1,960 SF |
| No. Units | 7 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1982 |
| Property Subtype | Apartment | ||
| Zoning | Commercial - Commercial | ||
| Price | $1,935,500 CAD |
| Price Per Unit | $276,500 CAD |
| Sale Type | Investment |
| Cap Rate | 6.67% |
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 4.00 AC |
| Building Size | 1,960 SF |
| No. Stories | 1 |
| Year Built | 1982 |
| Zoning | Commercial - Commercial |
AMENITIES
UNIT AMENITIES
- Fireplace
- Eat-in Kitchen
SITE AMENITIES
- Picnic Area
- Grill
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 2 | - | 550 |
| 2+1 | 4 | - | 650 |
| 5+3 | 1 | - | 1,960 |
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PROPERTY TAXES
| Parcel Number | 7613-40-5339 | Improvements Assessment | $1,250,232 CAD |
| Land Assessment | $297,276 CAD | Total Assessment | $1,547,508 CAD |
PROPERTY TAXES
Parcel Number
7613-40-5339
Land Assessment
$297,276 CAD
Improvements Assessment
$1,250,232 CAD
Total Assessment
$1,547,508 CAD
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Sunset Farms Cabins | 68 Vacation Dr
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