New

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$649,000

For Sale

6 days ago

209 S King St, Morganton, NC

Condo

MLS® 4408508

4 Bed

4 Bath

3808 sqft

4 Parking

Key Facts
Description
Map

Key Facts

Type Apartment

Levels Residential Income

Size 3808 sqft

Garage

HOA Fees

Taxes

Days Active 4

Approx. Age 1947

Avg. Price Per Sqft $170

MLS® Number 4408508

Property Address: 209 S King St, Morganton, NC, 28655-3584

Average square foot calculated using Size range provided by listing agent.

Description

Excellent investment opportunity featuring a beautifully renovated four-unit apartment building in the Historic Morganton Downtown area. Updated in 2022 with (3) units currently rented, this income-producing multifamily property offers immediate cash flow with stabilized occupancy from day one. The 4th unit has been serving as an Airbnb with the last reservation in mid-September at which time it will be converted to a full-time rental unit. The 2022 renovations strengthen the property’s value by improving tenant appeal, supporting rent stability, and reducing the likelihood of immediate capital expenditures for the new owner. The building is well positioned for investors seeking a turnkey rental asset, portfolio expansion, or a foothold in the multifamily market. Whether added to an existing rental portfolio or purchased as a standalone multifamily asset, this property provides a practical blend of current income, and future upside potential. Each unit offers a 1-bedroom, 1-bath layout with its own in-unit washer and dryer plus the 2nd floor units have private balconies. This property is perfect for investors looking for an established rental property with modernized units, stabilized tenancy, and walkable location essentials. The location adds to the appeal of tenants with nearby access to a library, a movie theater, parks, walking trails, convenience stores, and Downtown Morganton where you’ll find an array of restaurants, bars, shops, and professional services. Additionally, Burke Co. has been coined “Nature’s Playground” because of the State Parks/Trails & the thousands of acres of the Pisgah National Forest. This property is in a key location to access all the adventures the area has to offer plus it is only a five-minute drive to Exit 105 on I-40. The property combines current cash flow with location-driven tenant demand. Don’t miss out on this Morganton multifamily investment opportunity. Call today to schedule your private tour and learn more about this income-producing asset. PLEASE DO NOT DISTURB THE TENANTS. SHOWINGS BY APPOINTMENT ONLY. The prospective buyer or buyer’s agent must provide either written proof of funds sufficient to demonstrate the buyer’s ability to purchase the property or a current lender pre-approval letter for financing.

MLS® Number4408508

Locker

Ensuite LaundryYes

Balcony

Furnished

Laundry LevelEnsuite

Exposure

Exterior

Garage

Approx. Age1947

Stories

Pets

Included in Maintenance Fee

Heat

Hydro

Water

Building Insurance

Condo Taxes

Cable TV

Central Air

Parking Maintenance

Utilities

HeatDuctless

A/CDuctless, Window Unit(s)

Extras

Price History

-End Date

Not Sold YetSold Price

For Sale

Jul 30, 2026List Date

$649,000List Price

Commute

Commute

Starting Address

Destination Address

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