Multifamily
Sky at Cullowhee
563 N Country Clb Dr, Cullowhee, NC 28723
Listing Price: $4,640,000
Investment Overview
Marcus & Millichap is pleased to present Sky at Cullowhee, a 58-unit motel conversion in Cullowhee, North Carolina. Nestled in the heart of the Smoky Mountains, the property offers a unique balance of natural beauty and convenience, surrounded by rivers, wooded trails, and scenic views. Its walkable proximity to Western Carolina University provides direct access to nearly 12,000 students, while nearby shops, restaurants, and outdoor amenities make it an attractive option for a wide range of renters in a market with limited off-campus housing supply.
The community delivers both comfort and practicality through all-inclusive rents that cover Wi-Fi, utilities, trash, and pest control. Residents benefit from a fully equipped fitness center, on-site laundry, ample parking, professional management, and pet-friendly policies, all enhanced by added security features. With strong occupancy trends and consistent renter demand, Sky at Cullowhee provides a stable foundation for investors. In addition, opportunities for operational efficiencies and rent growth create meaningful potential for long-term value appreciation.
Sky at Cullowhee
Investment Highlights
- Recently Renovated: All 58 units have updated interiors and appliances reducing near-term capital needs.
- Proximity to Western Carolina: Walkable location with access to a student population of ~12,000.
- Comprehensive Amenities: Fitness center, laundry facilities, on-site management and maintenance, off-street parking, and pet-friendly policies.
- Consistent Demand: Limited off-campus housing options help support steady occupancy.
- Operational Upside: Potential for incremental rent growth and efficiency improvements.
- Cullowhee Setting: University-anchored community in the Blue Ridge Mountains with strong ties to regional economic activity.
Listing Price: $4,640,000
Investment Highlights
- Recently Renovated: All 58 units have updated interiors and appliances reducing near-term capital needs.
- Proximity to Western Carolina: Walkable location with access to a student population of ~12,000.
- Comprehensive Amenities: Fitness center, laundry facilities, on-site management and maintenance, off-street parking, and pet-friendly policies.
- Consistent Demand: Limited off-campus housing options help support steady occupancy.
- Operational Upside: Potential for incremental rent growth and efficiency improvements.
- Cullowhee Setting: University-anchored community in the Blue Ridge Mountains with strong ties to regional economic activity.
Investment Overview
Marcus & Millichap is pleased to present Sky at Cullowhee, a 58-unit motel conversion in Cullowhee, North Carolina. Nestled in the heart of the Smoky Mountains, the property offers a unique balance of natural beauty and convenience, surrounded by rivers, wooded trails, and scenic views. Its walkable proximity to Western Carolina University provides direct access to nearly 12,000 students, while nearby shops, restaurants, and outdoor amenities make it an attractive option for a wide range of renters in a market with limited off-campus housing supply. The community delivers both comfort and practicality through all-inclusive rents that cover Wi-Fi, utilities, trash, and pest control. Residents benefit from a fully equipped fitness center, on-site laundry, ample parking, professional management, and pet-friendly policies, all enhanced by added security features. With strong occupancy trends and consistent renter demand, Sky at Cullowhee provides a stable foundation for investors. In addition, opportunities for operational efficiencies and rent growth create meaningful potential for long-term value appreciation.
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