SMOKY MOUNTAINS – MULTIFAMILY DEV – ABSOLUTE AUCTION

SOLD – 534 PRESERVATION TRL (+5 additional parcels), Sylva, NC 28779

  • PROPERTY INFORMATION
Two buildings, totaling eight condo units with partial construction on six parcels and 15.57 acres of land. Excellent value-add opportunity to complete construction of the condominiums and sell or lease the properties upon completion. Future development opportunity with five additional undeveloped parcels. The condo units feature a double master style set-up with an open layout, vaulted living room, gas fireplace, and large windows allowing for ample natural light. Absolute Auction - 1st bid meets reserve! Each unit includes a private porch and a 300 square foot detached garage.
  • Primary Property Type           Land
  • Assessor's Parcel Number 7527-65-2413; 7527-65-1985; 7527-65-1271; 7527-66-4302; 7527-66-5605; 7527-66-665
  • Property ID              1000015639
  • Buildings                  2
  • Lot Size (Acres)      15.57
  • Starting Bid             $1
Detailed Description 534 Preservation Trail, also known as Garnet Ridge Preserve, consists of six parcels of land, totaling 15.57 acres, located in Sylva, North Carolina. The land is partially improved upon with five additional parcels left untouched, presenting an excellent opportunity for development. 534 Preservation trail includes two partially built condominium buildings totaling eight units. The condos are in varying stages of completion, with framing, electrical, plumbing, and HVAC having already been started, and insulation and drywall started in some. These two-story buildings contain four units each, with the upper floor units summing 1,329 square feet and the bottom units with 1,463 square feet. Each unit includes two bedrooms and two bathrooms, featuring a double master style set-up with an open layout, vaulted living room, gas fireplace, and large windows allowing for ample natural light. The units come with a private deck and 300 square foot detached garage, as well. Future residents can enjoy the private, secluded feel of being nestled into the dense North Carolina woods with scenic views surrounding the property. The Garnet Ridge Preserve backs up to the Long Branch Creek along Garnet Road and has a newly paved road running up to the property line. 534 Preservation Trail opens an excellent opportunity for developers to finish this project and capitalize on the additional five undeveloped parcels. The Garnet Ridge Preserve is located in Jackson County, in the heart of the Great Smoky and the Blue Ridge Mountains. Sylva is the county seat of Jackson County, acting as the central hub for commercial and government services. The picturesque community provides residents with a charming and small-town feel. This area is centrally located to many major cities, such as Asheville, Charlotte, Atlanta, and Knoxville. The site is easily accessible from Route 23 and 64, making traveling to and from the property a breeze. These mountain condos are convenient to folks across the east coast and offer access to excellent outdoor recreational activities. Recreational and outdoor tourism accounts for $163 million in economic impact each year, ranking Jackson County 26th among all 100 counties in North Carolina in that statistical category. Property tours are available by appointment only, please contact the listing broker to schedule.

LOCATION HIGHLIGHTS

The Garnet Ridge Preserve is located in Jackson County, in the heart of the Great Smoky and the Blue Ridge Mountains. Sylva is the county seat of Jackson County, acting as the central hub for commercial and government services. The picturesque community provides residents with a charming and small-town feel. This area is centrally located to many major cities, such as Asheville, Charlotte, Atlanta, and Knoxville. The site is easily accessible from Route 23 and 64, making traveling to and from the property a breeze. These mountain condos are convenient to folks across the east coast and offer access to excellent outdoor recreational activities. Recreational and outdoor tourism accounts for $163 million in economic impact each year, ranking Jackson County 26th among all 100 counties in North Carolina in that statistical category.

MARKET OVERVIEW

Sylva’s real estate market is colorful, albeit small. Charming cabins and single-family homes are more prominent than apartment units in this scenic setting. It’s a fantastic area to settle in for those looking for a rural, yet engaging city. Since 2010, Jackson County has seen a population growth of 9.1%, outpacing the national average of 6.3%. Jackson County is closest to the Asheville MSA. Multifamily properties within Asheville have been performing exceptionally well in the past 12 months, with rent growth of 18.8% and vacancy rates remaining low at 5.2%.

Directions:

534 PRESERVATION TRL Sylva, NC 28779 Map From Sylva: 441 towards Franklin. Turn left onto Pumpkin Town Road. Travel 4 miles to Garnet Ridge, turn left. Travel to end of road until gate at Garnet Ridge Preserve. Travel through gate. 100′ – Take first road on right (across from Clubhouse). In 150‘ Take first right onto Preservation Trl. Travel 1/4 mile until asphalt ends. Stay straight for upper condo. Turn right for lower condo.


ABSOLUTE LIVE ONLINE AUCTION!!
NO RESERVE!
NO MINIMUM!
SELLS REGARDLESS
OF PRICE!

Martin Kimsey – NC-Broker -NCAL#8704

Bidding begins on January 31 and ends February 2, 2022

 Preview Property by appointment anytime.

OPEN HOUSE January 25th and 27th 11am – 2pm

For More Documents and Information Register Now At:


OWNER RESERVES THE RIGHT TO ACCEPT AN OFFER PRIOR TO AUCTION.

*ONLINE ONLY AUCTION *

For more information call Marty Kimsey 828-421-3369/Brett Harris 864-430-3802 or Contact Us Now