Academy Street Apartments

Investment Overview

Excellent opportunity to acquire Academy Street Apartments, a 36-unit, 57-bedroom market-rate multifamily community in Jefferson, North Carolina. Built in 2019, the property consists of three buildings totaling approximately 24,264 SF and features a diversified unit mix of 18 one-bedroom/one-bathroom, 15 two-bedroom/one-bathroom, and three three-bedroom/two-bathroom apartments. The property is in above-average condition and benefits from municipal water and sewer service provided by the Town of Jefferson. With 97.53% occupancy, relatively recent construction, and convenient access to local employers and US Highway 221, Academy Street Apartments presents an attractive opportunity to acquire an established multifamily investment in Ashe County.

Investment Highlights

• Stabilized Multifamily Investment – 36 market-rate apartments totaling 57 bedrooms with 97.53% occupancy
• Modern Construction – Three buildings constructed in 2019, totaling approximately 24,264 SF and maintained in above-average condition
• Diversified Unit Mix – 18 one-bedroom, 15 two-bedroom, and three three-bedroom apartments appealing to a range of residential tenants
• Established Rental Demand – Strong existing occupancy demonstrates the property's current market acceptance
• Convenient Jefferson Location – Proximity to local employers, commercial amenities, and US Highway 221
• Municipal Infrastructure – Served by Town of Jefferson water and sewer, eliminating reliance on private well and septic systems