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Hari Swaminathan

hari@explorecharlotte.com +1(704) 779-1922

$ 1,175,000

Est. payment -/mo

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Active

226 & 228 Beech Haven RD Banner Elk, NC 28604

3 Beds

3 Baths

1,493 SqFt

UPDATED:

Key Details

Property Type Single Family Home

Sub Type Single Family Residence

Listing Status Active

Purchase Type For Sale

Square Footage 1,493 sqft

Price per Sqft $787

MLS Listing ID 258672

Style Cottage,Craftsman

Bedrooms 3

Full Baths 3

HOA Y/N No

Abv Grd Liv Area 1,493

Year Built 1936

Annual Tax Amount $2,549

Lot Size 0.480 Acres

Acres 0.48

Property Sub-Type Single Family Residence

Property Description

A rare investor opportunity in Banner Elk, this property offers four rentable doors between a triplex and a separate 1-bedroom bungalow. Two of the four units have already been masterfully renovated as luxury short-term rentals, and both are proving their income potential now: the fully completed 1BR unit, “Hillside Haven,” has already earned $50K in its first year, even in a softer rental market, while the top-floor unit, “The Penthouse,” went live this fall and is actively booking. The remaining two units have been fully gutted, leaving plenty of value for the next owner to finish and scale. The third unit(main floor) is actively being completed and price will be adjusted as work continues. Current price is As-Is. Completion is estimated to be Spring 2026. Once all 4 units are complete, this property is projected to gross over $200k per year. The seller is a seasoned STR operator and consultant who has thoughtfully redesigned these spaces with intention, quality, and long-term performance in mind. Major systems and big-ticket items have already been addressed, including roof, windows, and core infrastructure, so the hard work is done. He's selling now only to pivot focus to another local project, offering this property as-is at a price that leaves serious meat on the bone for the next investor. This opportunity is great for experienced short term rental investors who want to enter the High Country market or expand their portfolio with a standout property in a prime location. It is on the way to Beech Mountain yet a 2 minute drive to downtown Banner Elk and Lees McRae, offering tremendous guest appeal. Short term rentals are the highest and best use but long term rentals could also easily cover expenses if needed. This property is not suited for anyone seeking a turnkey property. Square footage on this listing does not reflect the unfinished units. Once completed the main home will offer 3,494sf across three levels, and the detached bungalow adds an additional 715sf of finished space(4,209sf TOTAL). This is a rare chance to step into a partially completed/partially cash-flowing, high performing STR investment with proven income and plenty of room to grow.

Location

State NC

County Avery

Community Long Term Rental Allowed, Short Term Rental Allowed

Area 8-Banner Elk

Rooms

Basement Unfinished, Walk-Out Access

Interior

Interior Features Furnished, Skylights, Vaulted Ceiling(s)

Heating Ductless, Wood Stove

Cooling Ductless

Fireplaces Type Other, See Remarks, Wood Burning

Fireplace Yes

Appliance Dryer, Electric Range, Microwave, Refrigerator, Washer

Exterior

Parking Features Driveway, Gravel, Shared Driveway

Community Features Long Term Rental Allowed, Short Term Rental Allowed

Waterfront Description Creek,Stream

View Y/N Yes

Water Access Desc Public

View Residential, Creek/Stream, Trees/Woods

Roof Type Metal

Porch Covered

Building

Story 2

Entry Level Two

Foundation Basement

Sewer Public Sewer

Water Public

Architectural Style Cottage, Craftsman

Level or Stories Two

Additional Building Living Quarters

Schools

Elementary Schools Banner Elk

High Schools Avery County

Others

Tax ID 1859-17-11-0261-00000

Acceptable Financing Cash, New Loan, Other, See Remarks

Listing Terms Cash, New Loan, Other, See Remarks

Listed by Keller Williams High Country

Hari Swaminathan

Agent | License ID: 307418

+1(704) 779-1922

Hari Swaminathan

226 & 228 Beech Haven RD Banner Elk, NC 28604

Key Details

Location

Rooms

Interior

Exterior

Building

Schools

Others

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