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99999 State Street
Asheville, NC 28806
Asking Price
$2.40M
Asset Type
Residential Land
Class
Class B
What's Special
Rare Multifamily Development Opportunity in West Asheville <ul><li>Develop on one of West Asheville's largest remaining undeveloped tracts</li><li>Ideal property for affordable housing and multifamily</li><li>Conditionally zoned RM-16 (CZ 08-51-010), allows up to 140 multifamily units</li><li>Existing entitlements and prior site plans provide a low-risk head start for developers </li><li>Comprised of 7 contiguous parcels</li><li>Easy access to all major utilities</li></ul>
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NOI
$80,000
Cap Rate
3.33%
DSCR
0.56
Underwater
Cash-on-Cash
-8.68%
Monthly Payment
$11,873.891
Annual Cash Flow
$-62,486.686
