10624 Greensboro Rd
Ridgeway, VA 24148 ·
18 Units · Multifamily For Sale
|No. Units||18||Property Use Type||Investment|
|Building Size||10,000 SF||Cap Rate||9.20%|
|Property Type||Multifamily||Lot Size||8 AC|
|Listing ID: 16436805||Date Created: 10/19/2009||Last Updated: 03/25/2010|
Owner financing possible on this income producing 18 unit apartment building in great shape. All units are one bedroom/one bath. Rents range from $330 to $370. Historical vacancy has been around 10% as a result of being managed by the owners who are out of town for months out of the year. Occupancy can easily be brought up with local management in place. Application process in effect on the property, quality tenants, many of which are long term. Property has many upgrades and recent improvements such as new gutters, storm doors, ceiling fans, and "green" toilets. There is onsite storage and an empty room that was constructed to hold a laundry facility but has never been utilized as such. Total of 2 buildings on 8 acres of land. Owner has plans for the undeveloped acreage already drawn up.
Property is located 1 1/2 miles above the VA/NC State-line in Ridgeway, VA about 40 minutes from Greensboro NC, 5 minutes from Martinsville VA, and 10 minutes from Eden NC.
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