42 Furman Avenue, Asheville, NC 28801
Buncombe County
Key Facts
Description
42 Furman Avenue represents one of the most compelling short-term rental investment opportunities in downtown Asheville—a fully licensed, purpose-built 16-unit STR asset in a market where new permits are no longer issued. Spanning approximately 8,395 square feet across three stories plus a walkout basement, the building was completely renovated to the studs and redesigned specifically for short-term rental use, delivering modern interiors, efficient layouts, and strong visual appeal for today’s guest expectations. The unit mix includes twelve one-bedroom units and four studios, all configured to maximize occupancy and revenue potential. Located less than a mile from Asheville’s core attractions—including its nationally recognized dining scene, River Arts District, and cultural amenities—the property benefits from consistent year-round demand. With dedicated parking, an active and compliant STR license, and a structure that cannot be replicated under current regulations, this asset offers a rare combination of scale, location, and operational upside for an investor seeking to establish or expand a presence in one of the Southeast’s most resilient short-term rental markets.
Property Information
Property Type
Commercial Sale
Sub-Type
Hotel/Motel
Year Built
1928
Living Area
7,675 sq ft
Zoning
OFFICE
Days on Market
10
MLS® Listing#
4359264
Property Features
Basement
Parking
Financial Details
HOA
None
Assessed Value
$1,938,000
Parcel Number
9649-62-5482-00000
Affordability Calculator
$1,100,000
Estimated monthly payment
$29,273/mo
Principal $4,400,000 · Est. interest $6,138,392 over 30 yrs
Neighborhood Market Statistics
How this home compares to active listings in Asheville, NC
- $592,453
- Median Listing Price
- 73
- Median Days on Market
- 1,881
- Median Sq Ft
- $328
- Median Price / Sq Ft
- 988
- Active Listings
- This home’s price is 828% above the area median.
- Its price per sq ft is 118% above the area median.
Market statistics compiled from active EXIT Realty® and MLS listings in Asheville, NC.
Location
Points of Interest in Asheville, NC
Showing the Asheville area map.
Nearby Schools
Literacy Council of Buncombe County
Elementary · 0.1 mi away
Asheville City Schools
School · 0.3 mi away
Asheville Montessori School
Elementary · 0.6 mi away
Claxton Elementary School
Elementary · 0.7 mi away
Mountain City Public Montessori
Elementary · 0.7 mi away
Central United Methodist Church
School · 0.7 mi away
Hanger Hall School
Secondary · 1.2 mi away
Asheville City Schools
Elementary · 1.2 mi away
Asheville Middle School
Secondary · 1.3 mi away
School for Esoteric Studies
School · 1.6 mi away
Asheville High School
Secondary · 2.0 mi away
School of Inquiry and Life Sciences
Secondary · 2.0 mi away
Ira B Jones Elementary School
Elementary · 2.0 mi away
A-B Tech Conference Center
School · 2.1 mi away
Asheville Catholic School
Elementary · 2.1 mi away
Asheville Anglican Academy
School · 2.2 mi away
Buncombe County School
Secondary · 2.2 mi away
Haw Creek Elementary School
Elementary · 2.2 mi away
North Asheville Preschool
School · 2.3 mi away
Buncombe County Schools
School · 2.4 mi away
Commute Calculator
Nearby Homes
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Similar Home Values
Comparable nearby listings and their asking prices.
| Address | Price | Beds | Baths | Sq Ft |
|---|---|---|---|---|
| 105 Woodland Meadows Drive Tract A & B, Asheville, NC | $3,873,750 | — | — | — |
| 105 Woodland Meadows Drive Tract A & B, Asheville, NC | $3,873,750 | — | — | — |
| 353 Retreat Ridge Way, Asheville, NC | $3,885,000 | 4 | 4 | 3,436 |
| 93 Mirehouse Run, Asheville, NC | $3,950,000 | 6 | 5 | 4,776 |
| 95 Horizon Hill Road, Asheville, NC | $3,950,000 | 4 | 7 | 5,329 |
| 12 Sunset Summit, Asheville, NC | $3,995,000 | 3 | 4 | 4,930 |
Moving Cost Estimate
EXIT Agents in Asheville
Listing Courtesy: EXP Realty LLC - tyler@savvy.realty
Last Updated: 2026-05-08
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