Address
44 & 54 Legacy Lane, Cullowhee, NC
Price
$ 2,495,000
Property Attributes
- ID#4073888
- TypeCommercial
- CountyJACKSON
- CityCullowhee
- AreaJackson County
- Zip28723
- StyleSpecial Purpose
- Price$ 2,495,000
- Bedrooms0
- Full Bathrooms13
- Half Bathrooms0
- Lot Size0.7 Acres
Data Source:
Canopy MLS
Property Description
Rare investment opportunity to own property located absolutely in the middle of a growing regional university campus -- Western Carolina University. This location currently houses a student apartment complex, but also presents long-term development opportunities for other commercial enterprises that could thrive in a middle-of-the-campus location. As campus parking becomes more difficult and expensive, this unique, walk-everywhere apartment complex location will increase in values and has always enjoyed 100% occupancy. With slight additional development, these apartments could become known as the premier campus residences at WCU. This property can provide an immediate good return, while also banking captivating long-term potential. This may be the only middle-of-the-campus property available at any university in the SE United States; very unique, and possesses great potential for other, creative uses.
| Price History | |
|---|---|
| 9/28/2023 | Listed $3,125,000 |
| 11/3/2023 | 8% - $2,875,000 |
| 3/22/2024 | 14% - $2,495,000 |
General Features
| Sewer | Public Sewer |
|---|---|
| Heating | Central,Heat Pump,Separate Meters |
| Cooling | Central Air,Heat Pump |
| Utilities | Cable Connected,Electricity Connected,Fiber Optics,Satellite Internet Available |
| Roof | Shingle,Metal |
| Appliances | Dishwasher,Dryer,Electric Cooktop,Electric Oven,Electric Water Heater,ENERGY STAR Qualified Light Fixtures,Exhaust Fan,Exhaust Hood,Oven,Refrigerator,Self Cleaning Oven,Washer,Washer/Dryer |
| Construction Materials | Brick Partial,Wood |
| Year Built | 1971 |
| Property SubType | Special Purpose |
| Gross Income | 190000 |
| Elevation | 2500 |
| County | Jackson |
| Net Operating Income | 155000 |
| Operating Expense | 35000 |
| New Construction | No |
| Property Type | Commercial Sale |
| Possible Use | Commercial,Multi-Family,Residential |
| Directions | Main entrance of WCU campus,follow to the right. GPS will take you to property. The apartments are directly across from the bell tower. |
| City | Cullowhee |
| Number of Units Leased | 10 |
| Street Name | Legacy |
| Standard Status | Active |
| CAR_HOASubjectTo | None |
| Construction Type | Site Built |
| Restrictions | N/A |
| Tax Assessed Value | 981490 |
| Complex Name | Tree House Apartments |
Interior Features
| Flooring | Tile,Wood |
|---|---|
| Street Suffix | Lane |
| Total Baths | 13 |
Exterior Features
| Parking Features | Assigned,Parking Lot |
|---|---|
| Lot Features | Cul-De-Sac,Paved,Sloped |
| Water Source | County Water |
| Total Parking | 30 |
| Inclusions | Building,Equipment,Fixtures |
| Lot Size Area | 0.7 |
| Foundation Details | Crawl Space,Slab |
| Number of Buildings | 4 |
| Road Surface Type | Paved |
| Lot Size Units | Acres |
| Road Frontage Type | City Street,Other - See Remarks |
| Road Responsibility | Publicly Maintained Road |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Commercial Average in 28723
Price
Visits
Year Built
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Listing information © 2024 Triad MLS, Inc. of North Carolina. All rights reserved. The data relating to real estate for sale on this web site comes in part from the Internet Data Exchange (IDX) Program of the Triad MLS, Inc. of High Point, NC. Real estate listings held by brokerage firms other than Sellstate Executive Real Estate are marked with the Internet Data Exchange logo or the Internet Data Exchange (IDX) thumbnail logo (the TRIAD MLS logo) and detailed information about them includes
