237 Queen Street Boone, NC 28607

This walk-to-campus, recently renovated quadplex with 11 parking spaces and (4) 2 bed/1 bath units is an investor's dream! With leases currently renewing reflecting rent revenue at $106,200 annually, providing an 8.2% gross rent ROI for the Aug. '25 - July '26 lease term, along with recently renovat...ed kitchens and baths, flooring and fixtures, and a new roof in 2023, this quadplex is a tremendous turn-key property for any investor looking in the strong student housing market for App State and CCC&TI student populations. With on-site parking available to tenants, walk to campus and downtown Boone for shopping, restaurants, and all the town has to offer, this property offers the convenience students are looking for. Tenants pay electric, cable/internet, and heat with units metered separately for electric. Water/sewer and trash service are included in rent. Floor plans in photos with unit square footage provided by the seller. Current gross rent and parking $103,800, increasing to $106,200 for Aug '25 - July '26. 24 hour notice for showing required. Photos were taken previously, when units were unoccupied. Total square footage represented is from appraiser measurements provided by the seller. Continue reading