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The Village Square Apartments 193 Cedar Cove Ln 12 Unit Apartment Building $1,200,000 ($100,000/Unit) Spout Spring, VA 24593
Investment Highlights
- 12 unit multi family in Appomattox County
- Convenient Location
- Low maintenance Exterior
Executive Summary
A twelve unit multi family investment in Appomattox County, known as the Village Square Apartments, this community is set on two acres, conveniently located on Cedar Cove Lane, just off of Rt 460. Village Square features three well-maintained, brick quadplexes with ample parking. Each unit has its own private entrance, and is composed of two bedrooms and one full bath with a large living room. The apartments are separately metered for electricity, and the units have all electric heating and air conditioning. Landlord provides a shared dumpster for trash removal and a house meter for exterior lighting and water supply. This property is sited on a gentle hilltop elevation, providing a sunny location with countryside views. The location provides the convenience of being close to the Town of Appomattox and a quick drive from Lynchburg. A great opportunity to acquire a well built and well maintained, multi unit property, in a growing area.
Financial Summary (Actual - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Net Operating Income |
-
|
-
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
Property Facts
| Price | $1,200,000 | Building Class | C |
| Price Per Unit | $100,000 | Lot Size | 2.00 AC |
| Sale Type | Investment | Building Size | 13,200 SF |
| No. Units | 12 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1970 |
| Apartment Style | Low-Rise | Opportunity Zone |
Yes
|
| Zoning | R-2 - Appomattox County multi family zoning. | ||
| Price | $1,200,000 |
| Price Per Unit | $100,000 |
| Sale Type | Investment |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 2.00 AC |
| Building Size | 13,200 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1970 |
| Opportunity Zone |
Yes |
| Zoning | R-2 - Appomattox County multi family zoning. |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 12 | - | 1,100 |
1 1
Not walkable
10/100
Exceptionally drivable
100/100
Somewhat bikeable
20/100
Property Taxes
| Parcel Number | 62( A) 144 | Improvements Assessment | $404,400 |
| Land Assessment | $60,000 | Total Assessment | $464,400 |
Property Taxes
Parcel Number
62( A) 144
Land Assessment
$60,000
Improvements Assessment
$404,400
Total Assessment
$464,400
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The Village Square Apartments | 193 Cedar Cove Ln