Active

237 Queen Street

Boone NC, 28607

$1,299,000


$420.93 per sqft

Active

3,086 sqft

Multi-family

Built in 1945

Listing Courtesy of Baxter Mountain Properties

This walk-to-campus, recently renovated quadplex with 11 parking spaces and (4) 2 bed/1 bath units is an investor's dream! With leases currently renewing reflecting rent revenue at $106,200 annually, providing an 8.2% gross rent ROI for the Aug. '25 - July '26 lease term, along with recently renovated kitchens and baths, flooring and fixtures, and a new roof in 2023, this quadplex is a tremendous turn-key property for any investor looking in the strong student housing market for App State and CCC&TI student populations. With on-site parking available to tenants, walk to campus and downtown Boone for shopping, restaurants, and all the town has to offer, this property offers the convenience students are looking for. Tenants pay electric, cable/internet, and heat with units metered separately for electric. Water/sewer and trash service are included in rent. Floor plans in photos with unit square footage provided by the seller. Current gross rent and parking $103,800, increasing to $106,200 for Aug '25 - July '26. 24 hour notice for showing required. Photos were taken previously, when units were unoccupied. Total square footage represented is from appraiser measurements provided by the seller.

252975

MLS ID

December 20, 2024

Listed

December 21, 2024

Updated

Map

237 Queen Street
Boone NC, 28607

Interior Features

Fireplace

No


Cooling

No


Cooling Description

None


Heating

Yes


Heating Description

Baseboard, Electric

Exterior/Building Features

Lot Size

0.35 Acres


Architectual Style

Traditional


Roof

Asphalt, Shingle


Sewer

Public Sewer

School Information

High School

Watauga


Elementary School

Hardin Park

Other Property Details

Area Name

1-Boone, Brushy Fork, New River


Taxes

$4,616


Tax Frequency

Annually


Days on Market

1


Garage

No


View

No


County

Watauga


Water Source

Public


Pool

No

 

The information from this search is provided by the High Country Association of REALTORS, Inc. Please be aware that not all listings produced from this search will be of this real estate company. All information is deemed reliable, but not guaranteed. Please verify all property information before entering into a purchase. Listing broker has attempted to offer accurate data, but buyers are advised to confirm all items. This data is up-to-date as of 1:48 PM UTC 12/21/2024. For the most current information please contact Jeff Dollar at [email protected].

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