For more information or a personal tour call John & Mary now at 302-740-5872

Listing IDVAHC2000064
Sold For$7,200,000
SqFt 49,338
StatusCLOSED
CountyHarrisonburg City
Year Built1978
Property TypeCommercial Sale
Property Sub TypeFive Or More Units
This 80-unit multifamily investment is currently near 100% occupied and produces a cap rate of 6% on net operating income of 495,000. There are currently 59 1 bedroom apartments, 18 2 bedroom apartments, and 3 3 bedroom apartments. There are 10 buildings ranging from 3 units in a building up to 16 units in a building on 9 different tax tickets. Current rental rates in the market and within the complex have steadily appreciated over the last 5 years while keeping a low vacancy rate. The location of these apartments give tenants great access to employment, shopping, entertainment and local dining. With limited availability of market rate apartments in the city, these apartments make a great investment for any investor looking to maximize there return on investment. The current landlord provides tenants with many great benefits including a laundromat, trash dumpsters, snow removal, lawn care and paid water and sewer. Don't miss out on this rare opportunity to own an investment for the future.
Listing courtesy of Old Dominion Realty

© 2024 Bright MLS. All rights reserved. Information Deemed Reliable, but Not Guaranteed. Listing information is from various brokers who participate in IDX and not all listings may be visible on the site. The property information being provided is 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. The listing broker’s offer of compensation is made only to participants of the MLS where the listing is filed. Listing courtesy of Old Dominion Realty. Data last updated on Thursday, April 18th, 2024 09:06:19 AM.

Contact - Listing ID VAHC2000064

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John Luca

88 Lantana Dr.
Hockessin, DE 19707
Phone: 3029996966
Phone Alt: 3027405872

Data services provided by IDX Broker

Contact Information

Photo of John Luca Team Real Estate
John Luca Team
Berkshire Hathaway HomeServices Fox & Roach Realtors
88 Lantana Dr.
Hockessin DE 19707
Direct: 302-999-6966
Broker: 302-999-9999
Fax: Cell: 302-740-5872
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