Investment opportunity just minutes from downtown Asheville! This established four-unit property features four approximately 500-square-foot, one-bedroom/one-bath apartments, including one fully remodeled and currently vacant unit ready for a new tenant or owner occupant. The remaining three units are currently rented, providing immediate income for the next owner.
The building also offers shared interior stair access and a common basement/laundry area available to tenants. Conveniently located close to downtown, the River Arts District, shopping, dining, and Asheville amenities.
This is an older Asheville property with character and a proven rental history—not new construction—and there remains opportunity for additional TLC and improvements over time. The combination of existing rental income, a freshly renovated vacant unit, and a close-in location makes 37 Water Street an appealing opportunity for an investor looking to add value while maintaining an income-producing property.
Active
$570,000
37 Water St, Asheville, NC 28801
4beds
2,244sqft
Quadruplex
Built in 1925
-- sqft lot
$550,600 Zestimate®
$254/sqft
$-- HOA
What's special
Freshly renovated vacant unitShared interior stair access
- 17 hours |
- 103 |
- 3 |
Zillow last checked:
Listing updated:
Listed by:
Peter Lorenz peterlorenz@kw.com,
Keller Williams Professionals,
Bill Johnson,
Keller Williams Professionals
Source: Canopy MLS as distributed by MLS GRID,MLS#: 4416437
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 4
- Bathrooms: 1
- Full bathrooms: 4
Heating
- Baseboard
Cooling
- Window Unit(s)
Appliances
- Included: Gas Oven, Gas Range, Gas Water Heater, Microwave, Refrigerator
- Laundry: In Basement
Features
- Flooring: Vinyl, Wood
- Basement: Dirt Floor
Interior area
- Total structure area: 2,244
- Total interior livable area: 2,244 sqft
- Finished area above ground: 2,244
- Finished area below ground: 0
Property
Parking
- Parking features: Parking Space(s)
Features
- Stories: 2
- Patio & porch: Front Porch, Porch, Rear Porch
Lot
- Size: 0.1 Acres
- Dimensions: 45 × 100 feet
Details
- Parcel number: 964823139900000
- Zoning: RS8
- Special conditions: Standard
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Quadruplex
Materials
- Wood
Condition
- New construction: No
- Year built: 1925
Utilities & green energy
- Sewer: Public Sewer
- Water: City
- Utilities for property: Cable Available
Community & HOA
Community
- Security: Carbon Monoxide Detector(s), Smoke Detector(s)
- Subdivision: none
Location
- Region: Asheville
Financial & listing details
- Price per square foot: $254/sqft
- Tax assessed value: $303,300
- Date on market: 8/25/2026
- Tenant pays: All Utilities
- Road surface type: Concrete, Paved
Estimated market value
$550,600
$523,000 - $578,000
$1,837/mo
Price history
| Date | Event | Price |
|---|---|---|
| 8/25/2026 | Listed for sale | $570,000$254/sqft |
Source:  Canopy MLS as distributed by MLS GRID #4416437 Report a problem | ||
| 8/2/2024 | Listing removed | $570,000$254/sqft |
Source: Canopy MLS as distributed by MLS GRID #4146428 Report a problem | ||
| 7/27/2024 | Price change | $570,000-5%$254/sqft |
Source: Canopy MLS as distributed by MLS GRID #4146428 Report a problem | ||
| 5/31/2024 | Listed for sale | $600,000$267/sqft |
Source: Canopy MLS as distributed by MLS GRID #4146428 Report a problem | ||
Public tax history
Tax history is unavailable.
Monthly payment
Est. payment
Payment breakdown
Explore the cost of this home by adjusting the details. Changes won't be saved.Climate risks
Neighborhood: 28801
Nearby schools
GreatSchools rating
- 6/10Hall Fletcher ElementaryGrades: PK-5Distance: 0.9 mi
- 7/10Asheville MiddleGrades: 6-8Distance: 0.8 mi
- 6/10Asheville HighGrades: PK,9-12Distance: 0.3 mi
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A local agent can set up tours, give advice and negotiate with sellers.
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