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Listing 2 out of 1,015
$1,250,000 New For Sale

202 Overlook Drive
Spruce Pine, NC 28777

25 beds, 24 baths | Condo/Townhouse
12,000 sq ft; lot: 1.52 acres - MLS# 3473447
Property Photo
1/20

Description

Income opportunity attracting professionals w/high efficiency & extremely well maintained (like-new), 3 bldg./12-unit homes in prime rental corridor next to hospital & ECU School of Dentistry. Located in one of the most desirable neighborhoods, Eleven 2BD/2BA w/Master suite, two 3BD/2BA, high ceilings, front & rear porch, ramp accessibility on 1st floor & perfect floor plans. 27 pk. spaces, room for equip. bldg./office. 100% occupancy at all times! Current CAP = 8% (T-12= 7%). Excellent upside (CAP= 10%) potential/value-add opportunity for increased rents/NOI, w/no capital expenditures or updates needed (current rents= $200+ below market rate). Strong demographics & high quality employment opportunities. Rising rental pressure in growing town. Next to schools, shopping & employment- 5 min. to all major employers. Additional 4.15 acres on same street = further development w/water & sewer tap already purchased ($78,000; MLS#: 3451543).20 min.- I-40, 50 min.- Asheville, 2hr.- Charlotte.

Features

  • Property Type: Condo/Townhouse
  • Sub Type: Condo/Townhouse
  • Listing Status: Active
  • County/Area: Mitchell County
  • Zip Code: 28777
  • Year Built: 2005
  • Elementary School: Greenlee Primary
  • Middle School: Harris
  • High School: Mitchell
  • Sq.Ft.: 12,000 sq ft
  • Stories: 2 Story
  • Bedrooms: 25
  • Full Baths: 24
  • Lot Size: 1.52 acres
  • Baths: 24
  • View: Yes, See Lot Features
  • Area: All Areas
  • Construction Type: Site Built
  • Driveway: Asphalt
  • Entry Level: Main
  • Equipment: Cable Prewire, Dishwasher, Dryer, Electric Range/Oven, Refrigerator, Washer
  • Exterior Construction: Vinyl
  • Flooring: Carpet, Vinyl/Linoleum
  • Foundation Details: Crawl Space
  • Heating: Central Air
  • Land Included YN: Yes
  • Laundry Location: Main
  • Lot Features: City View, Green Area, Level, Long Range View, Mountain View, Open/Cleared, Paved Frontage, Sloping, Views, Year Round View
  • Parking: Assigned Parking Space - 2, Lot, Parking Space - 2
  • Sewer: City Sewer
  • Sq Ft Main: 6000
  • Sq Ft Upper: 6000
  • Sub-Sub-Type: 2 Story
  • Total Heated Sqft: 12000
  • Unit Floor Level: 1
  • Water: City Water
  • Water Heater: Electric
  • Zoning Specification: R-1
Courtesy of Foxfire Real Estate, Llc

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Tracey Walker

Terrell, North Carolina
Real Estate Agent
704-400-7000
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Tracey Walker | 704-400-7000 | Contact Me
8588 Hwy. 150 Terrell, NC 28682
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