Matthews™ is proud to offer this 82-unit North Carolina Multifamily Portfolio located in Murphy, Franklin, and Waynesville, NC. These communities offer newly renovated studio apartments in the heart of the Appalachian Mountains. This is an opportunity for an investor to purchase a higher-yielding apartment portfolio at a current in-place tax-adjusted 9% cap rate. There is a very strong demand for apartment rentals in these areas, given the lack of supply and inability to build new construction products due to the topography of the market.

Sky at Murphy
• Address: 78 Terrace Ave, Murphy, NC 28906
• 40-Units, Built-in 1982
• Gross Building Square Footage of 12,000
• All Studio units
• Average Unit: 300 SF
• Avg Rents: $1,081 | Market Avg Rents: $1,100
• Lot Size: 1.40 acres
• Additional 11,000 SF Vacant space in the basement
• 2,500 SF Vacant Space on the main floor behind the office that use to be a restaurant

Cielo at Blue Ridge
• Address: 3100 Georgia Rd, Franklin, NC 28734
• 22-Units, Built-in 1997
• Gross Building Square Footage of 9,450
• Average Unit: 430 SF
• Avg Rents: $972 | Market Avg Rents: $1,020
• Consists of (15) studios, (6) one-bedroom/One Bathroom, and (1) two-bedroom/two Bathroom
• Lot Size: 0.78 Acres
• Density: 28
• APN: 658-352-90-92
• New Roof
• 20 Parking Spaces Available
• Fire Pit area
• Wall-Unit HVAC Units
• Walking Distance to Retail locations such as restaurants, Exxon Gas Station, Dollar General, etc.

Cielo at Cherokee
• Address: 3334 Delwood Rd, Waynesville, NC 28786
• 20-Units, Built-in 1964
• Gross Building Square Footage of 5,000
• All Studio units
• Average Unit: 300 SF
• Avg Rents: $1,051 | Market Avg Rents: $1,075
• Lot Size: 0.91 acres
• New cabinetry
• Stainless steel appliances