STR Scout Spotlight: Boutique Cabin Community | Asheville, NC

Investment Opportunity: 16-Unit Cabin Community Near Downtown Asheville

Location: Asheville, NC address (10 min North of downtown)
Details: 16 Cabins, 18 Beds, 16 Baths, 9,177 sqft
Price: $3.160m
Status: Currently available for purchase (local legacy property)
Market Insights: Airdna

The Opportunity

We discovered a unique multi-unit STR investment opportunity while scouting for STR investments around the Ashville area: a historic 16-unit cabin community located just 10 minutes from downtown Asheville, operational since 1929. This property offers a mix of historical charm and modern luxury on a prime 4.32-acre development parcel.

We took some time to interview the selling agent and dig deeper into the property, the potential growth opportunities, the local STR market, and pending STR regulations. Here is what we learned.

Our Preliminary Diligence

• Strategic Location: Close proximity to downtown Asheville, positioned on valuable development land.

• Historical & Modern Blend: Includes historically significant cabins alongside modern amenities.

• Expansion Potential: Zoning supports adding SFR or MF units, enhancing short-term, mid-term, or long-term rental opportunities.

• Investment Appeal: Competitively priced with seller financing available, adjacent to high-demand rental areas, and backed by local redevelopment support.

• Seller Financing: Seller is willing to negotiate win-win terms for the right buyer.

Contact Seller Agent to Learn More

Unique Boutique Investment Potential

• Proven Demand: An established presence marketed primarily through word-of-mouth, no OTA (Airbnb or VRBO) marketing, indicating untapped upside marketing potential.

• Market Strength: Located only 10 minutes from downtown Asheville, desirable area, area location/community reflecting high rental demand potential.

• Growth Opportunities: Room for significant revenue increase through strategic marketing, operational improvements, value-add, and significant expansion potential.

Contact Seller Agent to Learn More

Other Considerations

• Long-Term Growth: Possibility for development of more cabins, townhomes, or multifamily units.

• Regulatory Peace of Mind: STR zoning is locked in for this property. Not the case for the county however. Buncombe County Planning Board is moving ahead with their Short-Term Rental (STR) restrictions.  here.

• Community Endorsement: Local support for redevelopment efforts.

• Operational Upside: The property is currently underutilized, presenting a major opportunity for revenue optimization.

STR Regulations in Buncombe County | Pending Changes.

• This property is zoned STR, eliminating fears of pending STR restrictions that will impact Buncombe County soon.

• While they have indicated an interest in allowing STRs to be grandfathered in, there is still extremely restrictive language that will prohibit STRs outside commercial districts and STRs that are allowed in "Open Use" (OU) districts will only be allowed if the STR qualifies as a vacation rental “complex” of at least 3 units, for which a special use permit must be obtained. 

• This could impact or restrict competing STR properties. Read About Pending Changes

Contact Seller Agent to Learn More

STR Market Insights

• Stable Demand: Strong STR market demand with a score of 67/100.

• Investment Readiness: An investability score of 40 suggests cautious optimism for growth and revenue opportunities. These units are prime to be professionally optimized for max performance.

• Market Report: See market overview provided by our scouting partner’s Airdna.

STR Seasonal Dynamics

• Peak Seasons: High occupancy during spring and summer, with autumn demand spikes for cultural events.

• Winter: Ideal period for property enhancements.

Summing Up Our Review

This deal is worth a look for investors in our community searching for a unique multi-unit STR boutique investment, with significant expansion potential.

The opportunity to acquire a strategic multi-unit STR boutique investment in a high-demand location is quite rare. It offers the advantage of seller financing and the potential to preserve a historic gem while creating new modern luxury, all with an Asheville address.

Next Steps: Contact Seller Agent

• Access the Property Tour video.

• Get complete project details.

• Learn about seller financing terms.

• Explore the potential for this landmark project.

Do you have a on or off-market STR property, project, or portfolio that you would like for us to review and spotlight? Tell Us More