$349,999
About this home
Unique investment opportunity located just 2 blocks from Downtown Morganton!! A single-family home along with a separate 2-unit apartment building is being sold together on the same lot for $349,999. All three units are occupied by long-term tenants, providing established rental income from day one. The single-family home currently rents for $1,350/month, while the two apartment units rent for $700/month and $800/month, for a combined rental income of $2,850/month or $34,200 annually. Additionally, there is an attached 480 Sqft. storage area/workshop which could be leased for additional income or possibly turned into additional living space. The location adds to the appeal of tenants with nearby access to a library, a movie theater, parks, walking trails, convenience stores, and Downtown Morganton where you’ll find an array of restaurants, bars, shops, and professional services. In addition, Burke Co. has been coined “Nature’s Playground” because of the State Parks/Trails & the thousands of acres of the Pisgah National Forest. This property is in a key location to access all the adventures the area has to offer plus it is only a five-minute drive to Exit 105 on I-40. The property combines current cash flow with location-driven tenant demand. Don’t miss out on this Morganton multifamily investment opportunity. Call today to schedule your private tour and learn more about this income-producing asset. PLEASE DO NOT DISTURB THE TENANTS. SHOWINGS BY APPOINTMENT ONLY. The prospective buyer or buyer’s agent must provide either written proof of funds sufficient to demonstrate the buyer’s ability to purchase the property or a current lender pre-approval letter for financing. ****Burke County GIS shows the properties as 109 Herron and 109-B Herron Street. The deeds list the properties as 109 S. College and 109-B S. College Street. This will be corrected at closing by the attorney.
Property details
- MLS
- Canopy MLS
- MLS #
- CAR4425386
- Property type
- Portfolio
- Subdivision
- N/A
- Status
- Active
- Days on market
- 11
- On market date
- September 16, 2026
- Stories
- N/A
- Total bathrooms
- N/A
- Garage spaces
- N/A
- Parking spaces
- 3
- Lot size
- N/A
Location
Get directions →Nearby schools
Within 10 miles. School directory data from the National Center for Education Statistics (NCES), accessed via the Urban Institute Education Data API. Local Score is calculated by INNOVATE Real Estate; where a state rating is shown, it comes from that state's own official school report card.
- Enrollment
- 274
- Student:teacher ratio
- 15.2:1
- District
- Burke County Schools
- Enrollment
- 489
- Student:teacher ratio
- 15.3:1
- District
- Burke County Schools
- Enrollment
- 128
- Student:teacher ratio
- 42.7:1
- District
- Burke County Schools
Walkability
Blended score for Morganton's center, calculated by INNOVATE Real Estate from two sources: the EPA's National Walkability Index (street network, transit, land-use mix) and Google Places amenity data (what's actually reachable on foot from this point). 60% EPA National Walkability Index + 40% nearby-amenity density (Google Places).
Market position
How this listing compares to current activity in Morganton, from live MLS data.
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Data source: Listing information provided by Canopy MLS (carolina) via Trestle/CoreLogic. Last updated 27 days ago.
Information herein deemed reliable but not guaranteed; all measurements, school assignments, HOA fees, taxes, and feature lists are approximate and should be independently verified. Equal Housing Opportunity.