202 Overlook Drive Spruce Pine, NC
$ 1,250,000
Property Attributes
  • MLS#3473220
  • TypeMulti-Family
  • CountyMITCHELL
  • CitySpruce Pine
  • AreaMitchell County
  • Zip28777
  • Style
  • Price$ 1,250,000
  • Bedrooms26
  • Full Bathrooms24
  • Half Bathrooms0
  • Sqr Footage12000
  • Lot Size1.52 Acres
Listing Provided Courtesy Of:
Foxfire Real Estate, LLC
Property 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.

Elementary School Middle School High School
Greenlee Primary Elementary School Harris Middle School Mitchell High School
Price History
2/8/2019 Listed $1,250,000

General Features

Elementary School Greenlee Primary
High School Mitchell
Middle/Junior School Harris
Pets Allowed Y/N No
Property Features Cable Available, Handicap Access
Property Sub Type Apartments
Property Type Multi-Family
Status Active

Interior Features

Beds Total 26
Doors Windows g-Insulated Door(s), Insulated Windows
Equipment Cable Prewire, Dishwasher, Dryer, Electric Range/Oven, Refrigerator, Washer
Flooring Carpet, Vinyl/Linoleum
Full Baths 24
Heating Central Air
Laundry Location Main
Water Heater Electric

Exterior Features

Driveway Asphalt
Exterior Construction Vinyl
Foundation Details Crawl Space
Lot Description City View, Green Area, Level, Long Range View, Mountain View, Open/Cleared, Paved Frontage, Sloping, Views, Year Round View
Lot Size Area 1.520
Parking Lot, Parking Space - 2
Sewer City Sewer
Water City Water


  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Pets
  • Master On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Zip Code Average in 28777

AVG $1.25M
AVG 21
Year Built
AVG 2005

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