This Multifamily Property is Off-Market.

10624 Greensboro Rd
Ridgeway, VA 24148 ·

18 Units · Multifamily For Sale

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Wayside Manor

Price N/A Property Sub-type Garden/Low-Rise
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

Description

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.

Research

10624 Greensboro Rd, Ridgeway, VA 24148 (Henry County)

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