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5614 Midsouth Rd

Wise, VA 24293
  • $1,500,000
  • STATUS: Active
  • ON SITE: 114 Days
  • MLS #: 82920
UPDATED: 29 min ago
$1,500,000
  • 0
    BEDS
  • N/A
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 8,000
    SQFT
  • $188
    $/SQFT
Neighborhood:
Type:
Commercial
County:
Area:

School Ratings & Info

Description

RARE INVESTMENT OPPORTUNITY! 4.8 acres approved for 44 rental units + 8 existing well-maintained rental apts with individual HVAC heat pumps, ready to continue churning profits for years to come. Rental units at this highly desirable location enjoy a wait list for occupancy. Public sewer, water, underground power, etc. are in place ready to accommodate 44 additional units. Located within walking distance (3/4 mile) of the University of Virginia at Wise ("UVA") at the NW Corner of Coeburn Mountain Rd (SR 646) and Bear Creek Rd (SR801) this is an investors dream location and excellent opportunity. Quiet location just outside of town limits. Wise Virginia continues to experience a strong economy and UVA has announced plans to add substantial staff to meet the demands of higher enrollments. There is a housing shortage in the area and that's especially true with regard to rental housing near the university. Vacant portion of the land is flat, requiring no earthwork, construction ready!

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© 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: 2022-09-26T14:10:48.46.
www.christywood.com/homes/129467069
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5614 Midsouth Rd Wise, VA 24293

  • Price: $1,500,000
  • Status: Active
  • On Site: 114 Days
  • Updated: 29 min ago
  • MLS #: 82920
0
Beds
0
Baths
0
½ Baths
N/A
Acres
8,000
SQFT
$188
$/SQFT
Neighborhood:
Wise County
County:
Wise
Area:
Wise County
Property Description
RARE INVESTMENT OPPORTUNITY! 4.8 acres approved for 44 rental units + 8 existing well-maintained rental apts with individual HVAC heat pumps, ready to continue churning profits for years to come. Rental units at this highly desirable location enjoy a wait list for occupancy. Public sewer, water, underground power, etc. are in place ready to accommodate 44 additional units. Located within walking distance (3/4 mile) of the University of Virginia at Wise ("UVA") at the NW Corner of Coeburn Mountain Rd (SR 646) and Bear Creek Rd (SR801) this is an investors dream location and excellent opportunity. Quiet location just outside of town limits. Wise Virginia continues to experience a strong economy and UVA has announced plans to add substantial staff to meet the demands of higher enrollments. There is a housing shortage in the area and that's especially true with regard to rental housing near the university. Vacant portion of the land is flat, requiring no earthwork, construction ready!
Exterior Features

Building Exterior Vinyl Siding Exterior Features Parking 25+ Spaces Lot Dimensions 4.799 Ac Road Frontage Feet Sr646: 266'; Sr801: 642' Roof Composition Style Building Multi StoryWood Frame

Interior Features

Air Conditioning Heat Pump Floors Carpet Heating System Central Heat Pump Interior Features Other-See Remarks

Property Features

Additional Structures N/A Building Age 15 County Taxes 5412.00 Current Use Other Equipment Leased N/A Gross Income 76000.00 Lot Number Tbd Net Income 70000.00 Property Description Located in CountySurveyOther-See Remarks Property Type Commercial Other Sewer Public Sewer Sprinkler System None Tax Map Number 050140 Tax Year 2022 Utilities Cable AvailablePhone AvailableElectricity ConnectedSeparate Meters Water Sewer Public Zoning Commercial

Listing information © 2022 Southwest Virginia Association of REALTORS®
Listing provided courtesy of Rd Snead of Exp Realty: 8668257169.


© 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: 2022-09-26T14:10:48.46.
 
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