Property Description

Investment opportunity just minutes from downtown Asheville! This established four-unit property features four approximately 500-square-foot, one-bedroom/one-bath apartments, including one fully remodeled and currently vacant unit ready for a new tenant or owner occupant. The remaining three units are currently rented, providing immediate income for the next owner.The building also offers shared interior stair access and a common basement/laundry area available to tenants. Conveniently located close to downtown, the River Arts District, shopping, dining, and Asheville amenities.This is an older Asheville property with character and a proven rental history?not new construction?and there remains opportunity for additional TLC and improvements over time. The combination of existing rental income, a freshly renovated vacant unit, and a close-in location makes 37 Water Street an appealing opportunity for an investor looking to add value while maintaining an income-producing property.

Property Features