140 W Franklin St, Chapel Hill, NC 27516

Investment Opportunity: Active on the Market: Resideline estimates that this property can be rented on Airbnb for an average of $160 per day and long-term for an average of $2,188 per month, based on similar listings in the area. Estimated short-term cap rate of -4.3%. Estimated long-term cap rate of -5.5%. Enjoy the premier downtown location and amenities of this well-designed and recently renovated condominium on the top floor of 140 West Franklin. It is priced below its 2025 tax value. The 8th floor condo features a newly completed kitchen renovation by local design firm Sitzer-Spuria, with new custom cabinetry by artisan Elijah Leeds and Miele appliances including a dishwasher, refrigerator, an induction cooktop and oven. There are two bedrooms and two en suite baths, as well as a living room and dining room. The spacious terrace features a custom metal work screen with climbing vines for privacy, teak flooring and an outdoor TV. The covered 220 square foot terrace is accessed from both the living room and the primary bedroom and functions as an ''extra room'' for most of the year. Additional amenities for this unit include one dedicated garage parking space (#19) with an EV charger. A separate dedicated storage unit (#5A-4) for the condo is in the building. 40 West building amenities include an exercise and yoga room, club room and adjoining sky deck with amazing views, and concierge and 24 hour security services. Savor being just a few steps away from the UNC Campus with easy access to plays, performances, art exhibits, lectures and more. Downtown Chapel Hill's restaurants and shops are within an easy walk, offering everything from casual breakfasts to award-winning fine dining. Come home to 140 West! (Floating console in living room does not convey and will be removed and repainting done prior to closing. Primary bathroom painted 2025. Pre-approval or proof of funds required with offers.