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$ 6,800,000
Est. payment | /mo
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Est. payment | /mo
Key Details
Property Type Commercial
Sub Type Remarks
Listing Status Active
Purchase Type For Sale
MLS Listing ID 1186593
HOA Y/N No
Year Built 1959
Property Sub-Type Remarks
Source Triad MLS
Property Description
Rare opportunity to own prime real estate in Boone, NC, with the Campus Hill Apartments. Located on West King Street and Wallace Circle in downtown Boone, NC, across the street from the campus of Appalachian State University. This is student housing with redevelopment potential, on just under an acre of land. The property consists of seven separate buildings with 54 apartment units and 61 total bedrooms. It is currently at 100% occupancy, with additional income from parking spaces and on-site laundry. The location is within walking distance to most everything, including restaurants, bars, shops, parks, various neighborhoods, grocery stores, drug stores, and hotels. Starting in August 2025 the projected PGI is $570,300 per year. Property is located on five tax parcels as identified by Watauga County. Reported assessed value is all five tax parcels.
Location
State NC
County Watauga
Building
New Construction No
Others
Special Listing Condition Owner Sale
Listed by Robert Ball of Underdown, Ball & Associates, LLC
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Andrea Wilhelm
Broker-Owner | Lic# 224507