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$ 6,300,000
Est. payment /mo
Price Dropped by $500K
380 W King ST Boone, NC 28607
0.98 Acres Lot
UPDATED:
Key Details
Property Type Commercial
Sub Type Building/Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID 256675
HOA Y/N No
Year Built 1959
Annual Tax Amount $42,752
Lot Size 0.980 Acres
Acres 0.98
Property Sub-Type Building/Land
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
Area 1-Boone, Brushy Fork, New River
Interior
Heating Baseboard, Electric
Cooling None
Fireplace No
Exterior
Exterior Feature None
Parking Features Parking Space(s)
Water Access Desc Public
Roof Type Metal
Building
Sewer Public Sewer
Water Public
Schools
Elementary Schools Hardin Park
High Schools Watauga
Others
Tax ID 2900-98-5519-000
Acceptable Financing Cash, Conventional, New Loan
Listing Terms Cash, Conventional, New Loan
Listed by Underdown, Ball & Associates, LLC