Turn-Key 8-Unit Investment Opportunity on 15.57 Acres with Expansion Potential. Positioned within a quiet, well-maintained gated mountain community, this 15.57-acre property presents a unique opportunity to acquire an established 8-unit residential investment with additional value-add and development potential. The property consists of two separate four-unit condominium buildings, providing a total of eight spacious 2-bedroom, 2-bath units. Each residence features high ceilings, generous living spaces, a private deck, and beautiful short- and long-range mountain views. Upper-level residences are enhanced by dramatic cathedral ceilings, while the lower condominium building features private garage space designated for each residence. The property is turn-key and positioned for immediate operation, offering flexibility for short-term vacation rentals, long-term rentals, or a combination of rental strategies, subject to applicable restrictions and regulations. Its gated setting, peaceful atmosphere, mountain views, and private outdoor spaces create an attractive environment for both vacation and residential tenants. Beyond the existing eight units, the property offers additional upside. An existing building is already in place with the potential to be converted into an additional condominium or rental unit, creating an immediate value-add opportunity. With 15.57 acres in total and substantial acreage separating the existing improvements, there may also be potential for additional residential development and construction of future units, subject to zoning, infrastructure, permitting, community restrictions, and buyer due diligence. For an investor seeking a property that combines existing income-producing improvements, turn-key rental potential, multiple buildings, significant acreage, and a potential path for future expansion, this offering provides a compelling opportunity to acquire a scalable mountain rental asset in a private gated setting. Link to Youtube video: https://youtu.be/8iGzBXznAHw
For sale
$1,790,000
534 Preservation Trl, Sylva, NC 28779
16beds
10,912sqft
Residential, Condominium, Multi Family
Built in 2007
-- sqft lot
$1,683,300 Zestimate®
$164/sqft
$640/mo HOA
What's special
Gated settingHigh ceilingsPrivate deckMultiple buildingsGenerous living spacesPrivate outdoor spaces
- 27 days
- 236
- 8
Likely to sell faster than
Zillow last checked:
Listing updated:
Listed by:
David Pinkerton,
Pinkerton & Co. Realty Group
Source: Carolina Smokies MLS,MLS#: 26048541
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 16
- Bathrooms: 9
- Full bathrooms: 9
Primary bedroom
- Level: First
Bedroom 2
- Level: First
Bedroom 3
- Level: Second
Bedroom 4
- Level: Second
Heating
- Electric
Cooling
- Central Electric
Appliances
- Included: Dishwasher, Microwave, Electric Oven/Range, Refrigerator, Washer, Dryer, Electric Water Heater
Features
- Cathedral/Vaulted Ceiling, Ceiling Fan(s), Primary w/Ensuite, Workshop
- Flooring: Ceramic Tile, Luxury Vinyl Plank
- Doors: Other Doors (See Remarks)
- Windows: Insulated Windows, Other Windows (See Remarks)
- Basement: Crawl Space
- Attic: None
- Has fireplace: Yes
- Fireplace features: Other
Interior area
- Total structure area: 10,912
- Total interior livable area: 10,912 sqft
Property
Parking
- Parking features: Garage-Single Detached, Other Garage-See Remarks
- Garage spaces: 1
Features
- Patio & porch: Deck
- Has view: Yes
- View description: Long Range View, Short Range View, View Year Round
Lot
- Size: 15.57 Acres
Details
- Parcel number: 7527666665
Construction
Type & style
- Home type: Condo
- Architectural style: Contemporary
- Property subtype: Residential, Condominium, Multi Family
Materials
- Composition Siding, Hardboard
- Roof: Composition,Fiberglass,Shingle
Condition
- Year built: 2007
Utilities & green energy
- Sewer: Septic Tank
- Water: Well, Private
Community & HOA
Community
- Subdivision: Garnet Ridge Preservation
HOA
- HOA fee: $1,920 quarterly
Location
- Region: Sylva
Financial & listing details
- Price per square foot: $164/sqft
- Tax assessed value: $1,450,300
- Annual tax amount: $10,894
- Date on market: 9/19/2026
- Listing terms: Cash,Conventional,USDA Loan,FHA
- Road surface type: Paved, Gravel
Estimated market value
$1,683,300
$1.60M - $1.77M
$1,224/mo
Price history
| Date | Event | Price |
|---|---|---|
| 9/19/2026 | Listed for sale | $1,790,000+177.2%$164/sqft |
Source: Carolina Smokies MLS #26048541 Report a problem | ||
| 3/7/2022 | Sold | $645,751$59/sqft |
Source: Carolina Smokies MLS #26024503 Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $4,996 +90.5% | $1,450,300 +159.6% |
| 2024 | $2,623 +152.1% | $558,640 +292.8% |
| 2023 | $1,040 | $142,220 |
| 2022 | $1,040 +15.6% | $142,220 -37.8% |
| 2021 | $900 -52% | $228,820 -43.6% |
| 2020 | $1,877 | $405,400 |
| 2019 | $1,877 | $405,400 |
| 2018 | $1,877 | $405,400 |
| 2017 | $1,877 +2.2% | $405,400 -38.2% |
| 2015 | $1,836 | $656,200 |
Find assessor info on the county website
Monthly payment
Est. payment
