Listing provided courtesy of Blueblaze Real Estate Group LLCMLS# 4394135MLS ProviderContact Information: [email protected]
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Investment Opportunity: Prime Development Potential in the Heart of Asheville Unlock the immense value of this strategically located property, situated just minutes from downtown Asheville, Trader Joe’s, the iconic Grove Park Inn, and the vibrant local scene at Weaver Park. This is more than just a home it is a rare opportunity to capitalize on flexible RM8 zoning that offers exceptional versatility for residential expansion or full-scale redevelopment. Why Investors Will Love This Opportunity or your Renovation Team. Maximum Density: Thanks to its RM8 zoning district, this property allows for up to four units. Flexible Development: Beyond a standard ADU, the land permits the construction of a second house with unrestricted size, or the opportunity to redevelop the entire site into a 4-plex. Convenient Infrastructure: Featuring alley access, the site is perfectly situated to support a design that includes a ground-floor garage with living space above, maximizing utility and square footage. Strategic Location: Enjoy an unbeatable location that places your future residents near top-tier amenities, including local dining favorites like the Chop House Butchery and TACO Temple. This property is being sold as-is, serving as the perfect blank canvas for a visionary developer or investor looking to bring a project to life in one of Asheville’s most desirable areas. Whether you are looking to renovate the existing structure or leverage the site for multi-unit development, the foundation for success is already here. All potential buyers are encouraged to verify zoning possibilities and development plans directly with the City of Asheville Planning and Urban Design Department.

Source: Canopy MLS, MLS#: 4394135

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  • Property Type
    Residential

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  • Median Age
    39
  • Population Density
    2,666
  • College Educated
    55%
  • Estimated Median Income
    $37,475
  • Estimated Total Home Owners
    2,419
  • Estimated Total Renters
    4,047
  • Owner / Renter Divide
    37% / 63%
  • Estimated Average Household Size
    2
  • Total Population
    13,792
  • Community data courtesy of LiveBy, Inc.

Owning this Home

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* All calculations are estimates and provided by Reliance Network, for informational purposes only. Actual amounts may vary. ** Assumes 6.50% APR, 20% down payment, and conventional 30-year fixed rate first mortgage. Rates cited are for instructional purposes only; current rates are subject to change at any time without notice. You should not make any decisions based simply on the information provided. Additional required amounts such as taxes, insurance, homeowner association dues, assessments, mortgage insurance premiums, flood insurance or other such required payments should also be considered. Contact your mortgage company for current rates and additional information. Any mortgage broker or insurance agent that may appear is independent and is not affiliated with, endorsed by, or provided by the MLS.

Life at 49 Madison Avenue


Schools


School data courtesy of LiveBy, Inc.
Ratings are based on a scale of 1-5, with 5 being the highest rating and 1 being the lowest rating. The schools displayed on this website are for informational purposes only and may not represent a complete or up-to-date list. School assignments are subject to change and should be verified directly with the local school district. Please contact the appropriate school district to confirm school zoning and enrollment eligibility for this property.

History

Date Event Value Agent
6/29/2026Source: Canopy MLS Price Reduction
$355,500 -3.9%
6/23/2026Source: Canopy MLS Status Change
Active
6/19/2026Source: Canopy MLS Added to Database
June 19, 2026