Description
Investment Property for Sale!! Current NET cap rate is at 7% for a stable source of income with low operating expenses. Most tenants have rented 10+ years. Property is <4 miles to I-77 or <10 miles to I-81 and <4.5 to New River Trail State Park and Foster Falls State Park. Fully rented income producing properties come with 2 apartment buildings (2065, 2067, 2073, 2073A, and 2073B) as well as a detached house (2075), behind it all there's over 5 acres of cleared, vacant land ready to build on, with an additional wells. There are 3- 1BD/1BA apartments, and 2- 3BD/1BA, there is also a beauty salon on the bottom level of one of the apartment buildings. There's an additional unused space that could be turned into an additional unit, storage, or business front for additional income.Owners have done several upgrades.Two units fully remodeled.Some of the units also have new heating units, appliances, and upgraded PEX plumbing. House parcel has 1 acre and apartment parcel is of 5 acres.
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0BEDS
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N/AACRES
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0BATHS
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01/2 BATHS
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4,726SQFT
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$94$/SQFT
School Ratings & Info
Description
Investment Property for Sale!! Current NET cap rate is at 7% for a stable source of income with low operating expenses. Most tenants have rented 10+ years. Property is <4 miles to I-77 or <10 miles to I-81 and <4.5 to New River Trail State Park and Foster Falls State Park. Fully rented income producing properties come with 2 apartment buildings (2065, 2067, 2073, 2073A, and 2073B) as well as a detached house (2075), behind it all there's over 5 acres of cleared, vacant land ready to build on, with an additional wells. There are 3- 1BD/1BA apartments, and 2- 3BD/1BA, there is also a beauty salon on the bottom level of one of the apartment buildings. There's an additional unused space that could be turned into an additional unit, storage, or business front for additional income.Owners have done several upgrades.Two units fully remodeled.Some of the units also have new heating units, appliances, and upgraded PEX plumbing. House parcel has 1 acre and apartment parcel is of 5 acres.
© 2022 Southwest Virginia Association of REALTORS®. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or The Christy Wood Team | Real Living Solutions. Data last updated: 2022-06-26T23:10:42.967.