12 Cain Holw Way | Asheville, NC 28806
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Class: A # of total units: 45 Type: Townhome Distance from Downtown: 7 miles SW of Downtown Asheville Location: Near the intersection of Selwyn Rd and Sand Hill Rd, just south of Interstate 40 Year built: 2024 # of total buildings: 13 (3-6 units per building as appears on GIS parcel map) # of stories/floors in each building: Two story Building materials: Wood Frame Roof type: Pitched roofs with composition shingles Acres of land: 0.04 – 0.05 acres per unit Builder: DR Horton - America’s Builder
Brand New D.R. Horton Townhome Community
Nestled in a Wooded Residential Area with Scenic Mountain Views
Custom Stone Water Feature at Property Entry
Professionally Landscaped with Manicured Grass, Mature Trees, Plants, Flowerbeds, and a Pond
Community Mailbox Area
Community Dog Park
Near Buncombe County Sports Park - an Athletic Complex with Soccer Fields, Beach Volleyball Courts, Bocce, Picnic Area, Playground, Dog Park, and Disc Golf Course
Close to Public Transportation (Mountain Mobility Bus Line), Trails, Schools, Stores, and Restaurants
Convenient Access to Interstate 40, U.S. Highways 23 and 74, and Downtown Ashville
COMMUNITY AMENITIES
UNIT AMENITIES
Two-Level Townhomes with Attached, Direct Access One-Car Garages
Beautifully Appointed with Wood-Style LVT Flooring, Shaker-Style Cabinetry, Granite-Style Countertops, Subway-Tiled Backsplash, Plush Bedroom Carpeting, and Recessed Lighting
Master Suite with His and Her Closets and Double Sink Vanity
Eat-In Kitchen with Electric Stove, Smooth-Top Range, Built-In Microwave, Undermount Double Basin Sink, Dishwasher, Dining Area, and Plenty of Cabinet and Counter Space
Full Size Bathroom with Tub and Shower Combination and Shower Shelves
Large Windows and Generous Storage
Laundry Room with Washer and Dryer Connections
Downstairs Powder Room with Pedestal Sink
Private Driveway and Covered Front Porch
Sliding Glass Doors to Back Patio and Shared Green Space
Air Conditioning / Heating and Cable Ready
12 Cain Holw Way | Asheville, NC 28806
Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage company business in Nevada.
© 2024 Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Berkadia® and Berkadia Commercial Mortgage® are trademarks of Berkadia Commercial Mortgage LLC. Investment sales and real estate brokerage businesses are conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. Tax credit syndication business is conducted exclusively by Berkadia Affordable Tax Credit Solutions. For state licensing details for the above entities, visit www.berkadia.com/licensing.
Rarity of Rental Townhome Product in Asheville MSA
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The opportunity to acquire low-density rental townhome product is extremely rare. According to Berkadia’s market research, approximately 128 market rate communities (~25,000 units) exist in Asheville. Within this market inventory, only 22 properties contain townhome floorplans. Only 1,312 units are rental townhomes, accounting for just 5% of the overall market rate rental product in Asheville.
INVESTMENT HIGHLIGHTS
PROPERTY DETAILS
AMENITIES
LOCATION
Premier national home builder
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DR Horton, the developer of Aberdeen Place, is the largest homebuilder in the US. Since its founding in 1978, DR Horton has developed an extensive track record of single-family and multi-family projects throughout the 33 states. The firm has served as the largest homebuilder by volume in the US since 2002 and has closed more than 1,000,000 homes in its 45-year history. DRH’s deep track record and sterling reputation ensures new ownership will acquire well-constructed luxury BTR product.
High Barrier to Entry and Supply Demand Imbalance
2
Increased Renter Demand for BTR / SFR Product
4
45
3 Bed-2.5 Bath units 1,375 square feet each
UNIT MIX
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Aberdeen Place offers investors the opportunity to acquire fully amenitized class A product in the highly sought after market of Asheville, NC. The subject property benefits tremendously from limited supply of new construction product in the Asheville market. The mountainous topography naturally leads to less developable land, as well as elevated construction costs on shovel-ready sites. According to Berkadia’s construction pipeline report, Asheville is expected to deliver approximately 1,400 units over the next 12 months, yet net migration research predicts over 6,000 net new move-ins throughout 2024. While other secondary Sun Belt markets are seeing stalled to negative rent growth, Asheville’s staggering lack of supply, coupled with strong migration trends is projected to lead to effective rent growth north of 4% through 2024.
Known for an abundance of art, thriving music and craft beer scene, and robust culinary options, this eclectic mountain town has carved a unique personality in the landscape of North Carolina. Aberdeen Place is ideally situated less than 15 minutes from Downtown Asheville, providing tenants convenient access to the vast suite of lifestyle amenities that the city has to offer.
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Proximity to Top Tier Lifestyle & Employment Nodes
BACK TO TOP
774 S Shelmore Blvd
Suite 105
Mt Pleasant, SC 29464
Charleston Office
4201 Congress Street
Suite 200
Charlotte, NC 28209
Charlotte Office
4030 Wake Forest Road Suite 300, Office 314 Raleigh, NC 27609
Raleigh office
355 S. Main Street
1st and 2nd Floor
Greenville, SC 29601
Greenville Office
Blake Coffey
Senior Director
843.628.3766 blake.coffey@Berkadia.com
Thomas Colaiezzi
Director
704.565.9391 thomas.colaiezzi@berkadia.com
Mark Boyce
Managing Director
843.628.3765 mark.boyce@Berkadia.com
Joel Kirstein
Managing Director
346.444.8975
joel.kirstein@berkadia.com
Mackinley Robinson
Senior Director
360.704.8831
mackinley.robinson@berkadia.com
Matt Robertson
Associate
919.812.3174 matthew.robertson@berkadia.com
Caleb Troop
Managing Director
980.208.1668 caleb.troop@berkadia.com
INVESTMENT SALES
MORTGAGE BANKING
CONTACT
Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage loan brokerage business in Nevada.
© 2024 Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Berkadia® and Berkadia Commercial Mortgage® are trademarks of Berkadia Commercial Mortgage LLC. Investment sales and real estate brokerage businesses are conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. Tax credit syndication business is conducted exclusively by the Berkadia Affordable Tax Credit Solutions. For state licensing details for the above entities, visit: https://www.berkadia.com/licensing/.
Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage company business in Nevada.
© 2024 Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Berkadia® and Berkadia Commercial Mortgage® are trademarks of Berkadia Commercial Mortgage LLC. Investment sales and real estate brokerage businesses are conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. Tax credit syndication business is conducted exclusively by Berkadia Affordable Tax Credit Solutions. For state licensing details for the above entities, visit www.berkadia.com/licensing.
12 Cain Holw Way | Asheville, NC 28806
BACK TO TOP
774 S Shelmore Blvd
Suite 105
Mt Pleasant, SC 29464
Charleston Office
4201 Congress Street
Suite 200
Charlotte, NC 28209
Charlotte Office
4030 Wake Forest Road Suite 300, Office 314 Raleigh, NC 27609
Raleigh office
355 S. Main Street
1st and 2nd Floor
Greenville, SC 29601
Greenville Office
Blake Coffey
Senior Director
843.628.3766 blake.coffey@Berkadia.com
Thomas Colaiezzi
Director
704.565.9391 thomas.colaiezzi@berkadia.com
Mark Boyce
Managing Director
843.628.3765 mark.boyce@Berkadia.com
Joel Kirstein
Managing Director
346.444.8975
joel.kirstein@berkadia.com
Mackinley Robinson
Senior Director
360.704.8831
mackinley.robinson@berkadia.com
Matt Robertson
Associate
919.812.3174 matthew.robertson@berkadia.com
Caleb Troop
Managing Director
980.208.1668 caleb.troop@berkadia.com
INVESTMENT SALES
MORTGAGE BANKING
CONTACT
BUILT 2024 | 45 UNITS
Due to a lack of supply in the housing market and an increased mortgage rate environment, average Americans are continuing to be priced out of the homebuying market. The gap between monthly mortgage and rent payments continues to widen. Per Forbes, the monthly cost of a new home purchase now exceeds average rent payments by 52%. However, consumer demand for high-quality spacious homes has remained consistent. Aberdeen Place affords new ownership the opportunity to offer best-in-class product to a growing community of renters who are continuing to be priced out of the homebuying market.
Russ Hardy
Managing Director
404.422.0499
russ.hardy@berkadia.com
Andrew Curtis
Senior Director
602.571.4190 andrew.curtis@berkadia.com
*Upgraded amenities include iron stair spindles, two color schemes, etc