Multifamily
Fleming Street Apartments
526 Fleming St, Hendersonville, NC 28739
Listing Price: $1,150,000
Investment Overview
Marcus & Millichap is pleased to present Fleming Street Apartments, a 9-unit multifamily community located in Hendersonville, North Carolina. Originally built in 1960 and comprehensively renovated in 2023, the property comprises four distinct buildings (a cottage, two duplexes, and a quadplex), offering a rare combination of asset diversity, scale efficiency, and turnkey condition.
Approximately $200,000 in capital improvements have been completed throughout the property, addressing virtually every major building system. Recent upgrades include new roofs and gutters, new windows, full electrical panel replacement on every unit, upgraded plumbing throughout, a new commercial water heater on the quadplex, structural stabilization with steel piers and beams, and all-new mini-split HVAC systems serving the duplexes and cottage. Interior renovations span new flooring, fully updated bathrooms with tile showers, modern kitchen cabinets and appliances, and updated paint and lighting throughout.
Fleming Street Apartments presents a true turnkey investment opportunity, allowing a new owner to acquire a fully repositioned asset with minimal deferred maintenance and immediate cash-flow stability, supported by Hendersonville’s steady demand from a diverse tenant base of working professionals, retirees, and seasonal residents. STR furniture is available for sale for buyers who wish to continue operating the existing short-term rental units.
Fleming Street Apartments
Investment Highlights
- $200K+ Capex Investment: Comprehensive 2023 renovation addressing every major building system across the property.
- Fully Renovated Interiors: New flooring, tile showers, kitchen cabinets, appliances, paint, and fixtures throughout all 9 units.
- Updated Building Systems: New roofs, electric panels on all units, commercial water heater, PEX plumbing, and structural stabilization.
- All-New Mini-Split HVAC: New mini-split systems installed in every unit across both duplexes and the single-family home.
- Prime Downtown Location: Located in downtown Hendersonville with walking access to shops, dining, and entertainment.
- Diverse Asset Composition: Four distinct buildings (a cottage, two duplexes, and a quadplex) on a single site.
Listing Price: $1,150,000
Investment Highlights
- $200K+ Capex Investment: Comprehensive 2023 renovation addressing every major building system across the property.
- Fully Renovated Interiors: New flooring, tile showers, kitchen cabinets, appliances, paint, and fixtures throughout all 9 units.
- Updated Building Systems: New roofs, electric panels on all units, commercial water heater, PEX plumbing, and structural stabilization.
- All-New Mini-Split HVAC: New mini-split systems installed in every unit across both duplexes and the single-family home.
- Prime Downtown Location: Located in downtown Hendersonville with walking access to shops, dining, and entertainment.
- Diverse Asset Composition: Four distinct buildings (a cottage, two duplexes, and a quadplex) on a single site.
Investment Overview
Marcus & Millichap is pleased to present Fleming Street Apartments, a 9-unit multifamily community located in Hendersonville, North Carolina. Originally built in 1960 and comprehensively renovated in 2023, the property comprises four distinct buildings (a cottage, two duplexes, and a quadplex), offering a rare combination of asset diversity, scale efficiency, and turnkey condition. Approximately $200,000 in capital improvements have been completed throughout the property, addressing virtually every major building system. Recent upgrades include new roofs and gutters, new windows, full electrical panel replacement on every unit, upgraded plumbing throughout, a new commercial water heater on the quadplex, structural stabilization with steel piers and beams, and all-new mini-split HVAC systems serving the duplexes and cottage. Interior renovations span new flooring, fully updated bathrooms with tile showers, modern kitchen cabinets and appliances, and updated paint and lighting throughout. Fleming Street Apartments presents a true turnkey investment opportunity, allowing a new owner to acquire a fully repositioned asset with minimal deferred maintenance and immediate cash-flow stability, supported by Hendersonville’s steady demand from a diverse tenant base of working professionals, retirees, and seasonal residents. STR furniture is available for sale for buyers who wish to continue operating the existing short-term rental units.
To view property details and documents, sign up for a free MyMMI account.
Explore exclusive listings, access research insights, and set up automated alerts for a personalized experience. Sign up now to elevate your property search.
