$2,350,000
268 Wambli Pass, Lake Lure, NC 28746
Income-Producing Fourplex on 6.55 Acres Adjacent to Golf
8 Bed · 12 Bath · 7,244 Sq Ft
Four units, expansion potential next to Apple Valley Golf Course.
8
Beds
12
Baths
7,244
Sq Ft
2009
Built
6.55 acres
Lot
None — shared parking lot
Garage
About 268 Wambli Pass
Rare multi-unit opportunity minutes from Lake Lure’s recreational amenities: this purpose-built fourplex (7,244 SF) sits on 6.55 acres directly adjacent to Apple Valley Golf Course and is offered at $2,350,000. Built in 2009 in an Arts & Crafts style, the property is laid out as four generous units — each with a main-level primary bedroom and additional upstairs sleeping/bonus space — designed for comfortable long-term tenancy or high-performing short-term rental operation.
Two of the units include finished basements that function today as offices, dens or recreation rooms; the other two basements are unfinished, providing immediate scope to add livable square footage and boost revenue. Interior finishes include a mix of wood, tile and carpet, and inviting stone gas fireplaces in the living spaces. Each unit features a private deck for outdoor living and views into the wooded lot. Systems include heat pump heating, central air, well water and septic (buyer to verify capacities and condition).
The lot is a standout asset — 6.55 acres gives both privacy and development optionality for an investor or owner-operator. Surface parking is in place with room to expand paved parking and guest areas. The property is positioned to serve multiple market channels: long-term leases to local tenants, short-term vacation guests drawn to Lake Lure, and a hybrid operation that stabilizes cash flow while maximizing peak-season revenue.
This asset will appeal to value-add investors, small portfolio owners, and developers seeking a mountain-market multi-family holding with clear upside. Due diligence items include HOA rules (membership is required), septic/well inspections, and a title review for easements. For details and to schedule a showing, contact listing agent Mariah Leahy at Premier Sotheby’s International Realty.
Home Highlights
Property Features
Interior Features
- Total 7,244 SF across four units
- 8 bedrooms, 12 bathrooms total
- Main-level primary bedroom layout in each unit
- Two finished basements (office/den/rec rooms); two unfinished basements
- Stone gas fireplaces in living rooms
- Mixed wood, tile and carpet flooring
- Heat pump heating and central air
- In-kitchen laundry (washer listed)
Exterior & Lot
- 6.55-acre lot — substantial privacy and development potential
- Adjacent to Apple Valley Golf Course
- Private decks for each unit
- Surface parking lot with room to expand
- Arts & Crafts exterior styling with stone accents
Location & Neighborhood
- Located in Lake Lure, NC (28746) — close to Lake Lure Beach & Flowering Bridge
- Short drive to Chimney Rock State Park hiking and overlooks
- Resort-oriented market with year-round and seasonal demand
- Approximately 40–60 minute drive to Asheville regional amenities (estimate)
Walkability & Recreation
- Walkability Rating: 25/100
- Easy access to golf, lake recreation, and hiking trails
- Nearby boating, fishing, and scenic drives
- Quiet, low-traffic neighborhood ideal for guests seeking a mountain retreat
Neighborhood & Location
Lake Lure is a small mountain-lake community prized for boating, hiking and scenic drives. The Apple Valley neighborhood is quiet and low-density, highlighted by the golf course and easy access to Lake Lure’s public beach, restaurants and the iconic Flowering Bridge. The nearby Hickory Nut Gorge and Chimney Rock attractions draw strong weekend and seasonal tourism, supporting both short-term rentals and long-term housing demand in the area.
Market Insights
Lake Lure is a compact resort community with outsized seasonal demand driven by lake activities, hiking at Chimney Rock and scenic drives. Inventory for multi-family and investor-grade properties in the Apple Valley / Lake Lure pocket is limited — a fourplex of this size and lot is uncommon. Median single-family prices in the broader area have been trending up modestly (mid-single-digit annual appreciation), while demand for vacation rentals remains strong during peak months. This listing captures both steady year-round rental demand and elevated seasonal ADRs for short-term guests. Buyers should underwrite both STR and LTR scenarios; finishing unfinished basements or improving operations typically yields the fastest return on investment.
Nearby Schools
Rutherford County Schools (district)
District · Varies — verify assignment
Nearest Elementary (verify assignment)
Elementary · Approx 10–20 miles (verify)
Nearest Middle/High (verify assignment)
Middle/High · Approx 10–25 miles (verify)
Walkability & Recreation
Outstanding access to golf, lake activities, hiking at Chimney Rock and numerous outdoor recreation options — excellent for STR guests and active tenants.
Investment Highlights
- Large 6.55-acre lot adjacent to Apple Valley Golf Course — amenity premium
- Four sizable units (total 7,244 SF) built in 2009 with modern mechanicals
- Two finished basements + two unfinished basements: immediate rent-up or conversion potential
- Flexible use: long-term rentals, short-term/vacation rentals, or mixed operation (subject to HOA and county rules)
- Low supply of multi-family properties in Lake Lure creates scarcity value
Key Findings
- Listing price: $2,350,000; AVM ~ $2.17M
- Total building area: 7,244 SF; lot: 6.55 acres
- 8 bedrooms / 12 bathrooms across four units (provided in MLS data)
- Two units have finished basements (office/den/recreation); two have unfinished basements for expansion
- Property adjacent to Apple Valley Golf Course with strong short-term rental demand in market
Things to Consider
- Well and septic servicing multiple units require condition and capacity verification
- HOA is mandatory — dues and short-term rental restrictions may limit STR operation
- Rural mountain roads and seasonality can affect occupancy and maintenance costs
- Zoning limitations or setback/impervious surface rules may constrain expansion; verify with county
Opportunity Analysis
Buyers can acquire a rare quadplex in a resort-adjacent location with built-in upside from unfinished basement space, operational improvements to increase rents, and potential development on 6.55 acres. The asset suits a small portfolio investor or owner-operator seeking seasonal income from vacation rentals plus steady long-term rental cash flow.
Potential Use Scenarios
- Obtain current rent roll and expense data; model pro forma with STR and LTR scenarios
- Inspect septic/well and upgrade if necessary to expand occupancy or for permitting additional units
- Confirm HOA bylaws and county zoning for STR permissibility and any development constraints
- Consider finishing unfinished basements to increase rentable square footage and net operating income
Risk Factors
- HOA restrictions limiting STR usage or increasing operating costs
- Septic/well capacity or costly upgrades
- Seasonal revenue variability in a resort market
- Potentially higher maintenance and insurance costs for mountain properties
Buyers should conduct independent due diligence before making any purchase decisions.
AI Valuation Estimate
Low
$2000K
Midpoint
$2275K
High
$2550K
$324/SF estimated price per square foot
Estimate anchored to the listing price of **$2,350,000** and the AVM of **$2,171,669**; adjusted for large lot (6.55 acres), four-unit income potential, finished basement area and proximity to Apple Valley Golf Course. No live comparable sales search; values reflect market knowledge for Lake Lure / western NC resort multi‑family assets.
As of 2026-03-14
This is a computer-generated estimate for informational purposes only and is not an appraisal or professional valuation.
Market & Area Data
Market Trends
Demographics
Lake Lure is a small resort community with a mix of year-round residents and second-home owners. Demand for short-term rentals and weekend getaways supports premium rates seasonally. Figures are estimated and should be verified.
Nearby Points of Interest
- Apple Valley Golf Course (adjacent)
- Lake Lure Beach & Flowering Bridge (~2 mi)
- Chimney Rock State Park (~6-8 mi)
- Downtown Lake Lure (restaurants & shops — ~2-5 mi)
- Asheville regional amenities (drive time ~40–60 min)
Property sits directly adjacent to Apple Valley Golf Course with easy access to Lake Lure recreational amenities, Chimney Rock State Park hiking and overlooks, local dining and short drive to Hickory Nut Gorge attractions.
School District
Market data is based on aggregated public records and may not reflect real-time conditions.
Property Details
Building Details
Lot & Site
Utilities
Zoning & Land Use
Allowed Uses
Tax & Sale History
Tax Assessment
Sale History
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