3385 Us-321Blowing Rock, NC 28605

This Blowing Rock, NC multifamily investment opportunity presents a unique chance to acquire a well-located apartment building. Situated on a 0.5-acre lot at 3385 US-Hwy 321, this property boasts a prime location on a major thoroughfare between Blowing Rock and Boone, NC, experiencing high daily traffic volume (24,000 vehicles). The building, constructed in the 1950s and renovated in the 2000s, features 3,110 square feet of net rentable space, spread across two stories and encompassing four units. Each unit offers ample space, with a total of six bedrooms across the building. The property includes 20 parking spaces, a significant advantage in this area. Currently, the building is configured in a manner that could easily be converted back to its original use as an apartment building. The property utilizes well water and septic systems, with the owner reporting no issues. This investment is priced at $997,000, or $249,250 per unit, and $320.58 per square foot. The strong rental market in Blowing Rock and Boone, enhanced by the proximity to Appalachian State University (21,000 students), makes this a compelling opportunity for owner-users or investors seeking a solid return. The solid brick veneer construction ensures durability and longevity. This high-country jewel offers significant potential for growth and income generation in a thriving tourist destination.