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Dream Team United

| Dream Team United | Keller Williams Connected | PLACE

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119 Fairfax Ave , Asheville, NC 28806
$279,000
Est. Payment: $620.00/mo
4 Bed
2 Bath
1789 Sqft
Status: Active | Days on site: 0
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NCM17440 - 548508261
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House Description

**Prime West Asheville Location + Income & Development Potential!** Welcome to 119 Fairfax, ideally located just off Haywood Road in the heart of **West Asheville and just minutes from Downtown Asheville**. This classic early-1900s duplex sits on an **oversized RM-8 zoned lot**, offering a rare combination of location, rental income potential, renovation opportunity, and future development possibilities. The existing duplex offers two potential income-producing units. The upper level features a spacious **3-bedroom, 1-bath layout ready for remodeling**, while the lower-level **1-bedroom, 1-bath unit has been recently renovated** and is move-in ready, with a recent lease at **$1,250/month**per apartment. There are multiple ways to envision this property. **Update and renovate the existing duplex**, creating an attractive income-producing property in one of Asheville's most desirable areas—or explore the potential to **redevelop the property entirely**, taking advantage of the large lot and RM-8 zoning. Depending on applicable zoning requirements, site conditions, access, setbacks, parking, and City approvals, the property may offer potential for **additional residential development or more than one structure**. For an investor, the existing duplex provides an opportunity to generate rental income while evaluating future options. For a developer, the **oversized RM-8 lot in such a close-in West Asheville location** presents an opportunity worth exploring. Enjoy being just minutes from **Haywood Road, West Asheville's restaurants, breweries, shops, and entertainment, as well as Downtown Asheville**. Properties offering this combination of location, lot size, existing income potential, and development possibilities are increasingly difficult to find. **Renovate it. Reimagine it. Redevelop it. The possibilities at 119 Fairfax are worth exploring.** Buyers should independently verify all zoning, density, development, access, parking, and building possibilities with the City of Asheville. To see photos of when it was occupied see Residential multi unit number 4365834 withdrawn.

Highlights

Listed by Joseph Ruiz , 828-231-3475 Mosaic Community Lifestyle Realty , 828-707-9556.

Property Type

Multi-Family

Lot/Acreage
0.23

Year Built

1909

County

Buncombe

Neighborhood

Galax Park

Listing ID

4424832

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Interior Features

Bedrooms and Bathrooms
  • Bedrooms:4
  • Bathrooms:2
  • Full Bathrooms:2
Appliances:Electric Range, Refrigerator
Air Cond:Window Unit(s)
Fireplaces:
Floor:Concrete,Laminate,Linoleum,Vinyl
Above Ground Sq Ft:1176
Below Ground Sq Ft:613
Basement:Apartment,Daylight,Storage Space
Water:City

Exterior Features

Lot:Infill Lot,Sloped,Wooded
Garage Capacity:6
Zoning:RM8
Roof:Composition
Sewer:Public Sewer
Parking Features:Driveway,On Street,Parking Space(s)
Principal Interest
$620
Taxes
$178

Home Price

$279,000

Loan Details

30 yrs
%

Down Payment

20%
$55,800
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Monthly Price:
$620.00

Principal

Taxes

Principal Taxes HOA Total
Monthly $620.00 $177.86 $0.00 $797.86
Yearly $7,440.00 $2,134.35 $0.00 $9,574.35
Total $223,200.00 $64,030.50 $0.00 $287,230.50

Today's Rates

30 Year

0%

20 Year

0%

15 Year

0%

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Market insight data is pulled from the same city as the listing being viewed (Asheville, NC).

The schools listed are within a 2-mile radius of the property; however, attendance is not guaranteed. Please contact the local school district to confirm zoning and enrollment options.