209 King Street, Morganton NC
- 4 Bed
- 0.2 ac
For Sale $649,000
Remarks:
Excellent investment opportunity featuring a beautifully renovated four-unit apartment building in the Historic Morganton Downtown area. Updated in 2022 with (3) units currently rented, this income-producing multifamily property offers immediate cash flow with stabilized occupancy from day one. The 4th unit has been serving as an Airbnb with the last reservation in mid-September at which time it will be converted to a full-time rental unit. The 2022 renovations strengthen the property’s value by improving tenant appeal, supporting rent stability, and reducing the likelihood of immediate capital expenditures for the new owner. The building is well positioned for investors seeking a turnkey rental asset, portfolio expansion, or a foothold in the multifamily market. Whether added to an existing rental portfolio or purchased as a standalone multifamily asset, this property provides a practical blend of current income, and future upside potential. Each unit offers a 1-bedroom, 1-bath layout with its own in-unit washer and dryer plus the 2nd floor units have private balconies. This property is perfect for investors looking for an established rental property with modernized units, stabilized tenancy, and walkable location essentials. 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. Additionally, 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.
Exterior Features:
Lawn Maintenance
General Information:
| List Price: | $649,000 |
| Status: | For Sale |
| Bedrooms: | 4 |
| Type: | Apartment |
| Parking: | On Street, Parking Lot |
| MLS Number: | CAR4408508 |
| Style: | Colonial |
| Lot Description: | Corner Lot, Level |
| Year Built: | 1947 |
| Sewer Type: | Public Sewer |
Assigned Schools:
| Elementary: | Forest Hill |
| Middle: | Liberty |
| High: | Freedom |
Lane Yates
704-232-7238
Broker In Charge
Price & Sales History
| Date | Event | Price | $/SQFT |
| 01-01-2026 | Price Decrease | $635,000-1.55% | N/A |
| 12-09-2025 | Price Decrease | $645,000-3.01% | N/A |
| 11-01-2025 | Listed | $665,000 | N/A |
Nearby Schools
These schools are only nearby your property search, you must confirm exact assigned schools.
| School Name | Distance | Grades | Rating |
| NC School for the Deaf | 1 miles | KG-06 | N/A |
| The New Dimensions School | 2 miles | KG-06 | 7 |
Source is provided by local and state governments and municipalities and is subject to change without notice, and is not guaranteed to be up to date or accurate.
Properties For Sale Nearby
Mileage is an estimation calculated from the property results address of your search. Driving time will vary from location to location.
| Street Address | Distance | Status | List Price | Days on Market |
| 209 King Street, Morganton NC | 0 mi | $649,000 | days | |
| 107 Concord Street, Morganton NC | 0 mi | $207,000 | days | |
| 115 Meeting Street, Morganton NC | 0.1 mi | $475,000 | days | |
| 117 Union Street, Morganton NC | 0.1 mi | $710,000 | days | |
| 2040 Hampson Road, Morganton NC | 0.2 mi | $90,000 | days | |
| 311 West Union Street, Morganton NC | 0.2 mi | $949,900 | days |
Sold Properties Nearby
Mileage is an estimation calculated from the property results address of your search. Driving time will vary from location to location.
| Street Address | Distance | Property Type | Sold Price | Property Details |
Commute Distance & Time
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| Down Payment Amount | $990,000 |
| Mortgage Amount | $3,960,000 |
| Monthly Payment (Principal & Interest Only) | $19,480 |
* Expand Calculator (incl. monthly expenses)
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| Total Monthly Payment | $20,941 |
Demographic Data For Zip 28655
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Source is provided by local and state governments and municipalities and is subject to change without notice, and is not guaranteed to be up to date or accurate.
Property Listing Information
A Courtesy Listing Provided By Broadpoint Real Estate Group
209 King Street, Morganton NC is a ft2 on a 0.160 acres lot. This is for $649,000. This has 4 bedrooms, baths, and was built in 1947.
Based on information submitted to the MLS GRID as of 2026-08-13 16:12:50 EST. All data is
obtained from various sources and may not have been verified by broker or MLS GRID. Supplied
Open House Information is subject to change without notice. All information should be independently
reviewed and verified for accuracy. Properties may or may not be listed by the office/agent
presenting the information. Some IDX listings have been excluded from this website.
Properties displayed may be listed or sold by various participants in the MLS.
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Neither Yates Realty nor any listing broker shall be responsible for any typographical errors, misinformation, or misprints, and they shall be held totally harmless from any damages arising from reliance upon this data. This data is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties they may be interested in purchasing.
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