209 S King Street
Morganton, NC 28655
4
Bed
4.0
Bath
3,808Sqft
0.16Acre(Lot)
Excellent investment opportunity featuring a beautifully renovated four-unit apartment building in the Historic Morganton Downtown area. Updated in 2022 with (3) units currently rented, this income-producing multifamily property offers immediate cash flow with stabilized occupancy from day one. The 4th unit has been serving as an Airbnb with the last reservation in mid-September at which time it will be converted to a full-time rental unit. The 2022 renovations strengthen the property’s value by improving tenant appeal, supporting rent stability, and reducing the likelihood of immediate capital expenditures for the new owner. The building is well positioned for investors seeking a turnkey rental asset, portfolio expansion, or a foothold in the multifamily market. Whether added to an e
Property Details
Map
Map
What's Nearby
Nearby Areas
Features
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Bedroom Information
Total Bedroom: 4Bathroom Information
Full Baths: 4Room Information
Has Basement: YesInterior Features
Roof: Metal Appliances: Dishwasher, Electric Oven, Microwave, Refrigerator, Washer/Dryer Laundry Features: In UnitRoofing Information
Metal -
Flooring Information
Flooring: Tile, Wood Construction Materials: Brick Full -
Heating & Cooling
Heating: Ductless Cooling: Ductless, Window Unit(s) WaterSource: City
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Building Information
Year Built: 1947 -
Exterior Features
Lawn Maintenance Construction Materials: Brick Full Foundation Details: Basement Road Responsibility: Publicly Maintained Road
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Lot Information
Lot Dimensions: 56x128x56x128 Lot Description: Corner Lot, Level Lot Size Area: 0.16 acreProperty Information
Property Type: Residential Income Sub Type: Apartment Style: Colonial
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Listing Price Information
Original List Price:$649000
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Tax Information
Tax Assessed Value: 459167 Parcel Number: 2703-26-8224
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Virtual Tour
Parking Information
Open Parking Spaces: 4 Open Parking: Parking lot plus street parking. On Street, Parking Lot
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School Information
Elementary School: Forest Hill Junior High School: Liberty Senior High School: Freedom -
Utility Information
Sewer: Public Sewer Water Source: City -
Location Information
City: Morganton Direction: From Exit 105 on I-40, travel north on Sterling Street for 1.5 miles and turn left onto S. College Street. In .6 miles turn right onto W. Concord Street. The property is at the corner of S. king and Concord St. GPS. No signs.
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Nearby Home Value
| Address | Estimate | Bed | Bath | Sq. Ft | Lot Size |
|---|---|---|---|---|---|
| 3991 Silver Creek Terrace, Morganton, NC, 28655 | $252,000 | 3 | 2 | 1,512 | 1,512 SqFt |
| 3840 Hide Away Hill, Morganton, NC, 28655 | $159,900 | 2 | 1 | 868 | 868 SqFt |
| 957 Martinat Drive #LOT.., Morganton, NC, 28655 | $279,500 | 3 | 2 | 1,577 | 1,577 SqFt |
| 201 Martinat Drive #2, Morganton, NC, 28655 | $279,900 | 3 | 2 | 1,334 | 1,334 SqFt |
| 3918 Skyline Drive, Morganton, NC, 28655 | $979,000 | 3 | 4 | 3,990 | 3,990 SqFt |
| 3219 Us 70 Highway, Morganton, NC, 28655 | $309,900 | 2 | 1 | 1,474 | 1,474 SqFt |
| 113 Williams Way, Morganton, NC, 28655 | $199,900 | 3 | 1 | 1,340 | 1,340 SqFt |
| 3085 Us 70 Highway, Morganton, NC, 28655 | $241,000 | 2 | 1 | 1,045 | 1,045 SqFt |
| 113 Mountain View Street, Morganton, NC, 28655 | $279,000 | 4 | 2 | 1,268 | 1,268 SqFt |
| 308 Park Avenue, Morganton, NC, 28655 | $235,000 | 3 | 2 | 1,634 | 1,634 SqFt |
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ByOwner last updated this listing 07/31/2026 @ 18:20
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