Address
44 & 54 Legacy Lane, Cullowhee, NC
Price
$ 2,875,000
Property Attributes
  • ID#4073888
  • TypeCommercial
  • CountyJACKSON
  • CityCullowhee
  • AreaJackson County
  • Zip28723
  • StyleSpecial Purpose
  • Price$ 2,875,000
  • 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

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
AVG $1.66M
$2.88M
Visits
AVG 93
202
Data Provided by Inside Real Estate®
Year Built
AVG 1934
1971
Walkscore
AVG 24
43
Data Provided by Walkscore® not using MLS data

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