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$570,000
37 Water Street
Asheville, NC 28801
Property Type
Commercial Sale
Year Built
1925
Lot Size
0.10 acres
Garage
—
About This Property
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.
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 Details
Interior
- Basement
- Yes
- Stories
- 2
Exterior & Lot
- Lot Size
- 0.10 acres
- Year Built
- 1925
Location
- County
- Buncombe
- ZIP Code
- 28801
Financial
- Listing Terms
- Cash, Conventional, Private
Utilities
- Utilities
- Cable Available, Natural Gas
- Sewer
- Public Sewer
Schools
Appliances
Gas Oven, Gas Range, Gas Water Heater, Microwave, Refrigerator
Heating
Baseboard
Cooling
Window Unit(s)
Patio & Porch Features
Front Porch, Porch, Rear Porch
Location
Listing Information
- MLS #
- CAR4417990
- Listing Agent
- Peter Lorenz
- Listing Office
- Keller Williams Professionals
- Listed Date
- Aug 25, 2026
Contact Susan Young About This Property
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