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Heritage Acres Apartments 201 Brickyard Dr 40 Unit Apartment Building $4,500,000 ($112,500/Unit) Dillwyn, VA 23936
INVESTMENT HIGHLIGHTS
- Stabilized with Value Add Potential!
EXECUTIVE SUMMARY
Tremendous value add opportunity! 2025 mid year P&L has been uploaded; this shows a 24% increase in NOI with only a slight increase in rents, so the buyer has room to grow NOI even further!
Stabilized multifamily property with potential for rent increases. Many renovations done over last few years; turn key property! Three bedroom units have washer/dryer hookup; central laundry area for the two bedroom units. 28 (2bed/1 bath) units and 12 (3 bed/1.5 bath) units. Up to eight additional units possible (buyer to check with the county and do all due diligence). Units have stayed steadily rented with a waiting list. Rare opportunity to purchase a cash flow investment with great upside!
Note: Please DO NOT go by the property or speak to ANYONE on site without an agent present - must speak to listing agent before going; going to the property without an agent present and speaking to the listing agent first is prohibited.
Stabilized multifamily property with potential for rent increases. Many renovations done over last few years; turn key property! Three bedroom units have washer/dryer hookup; central laundry area for the two bedroom units. 28 (2bed/1 bath) units and 12 (3 bed/1.5 bath) units. Up to eight additional units possible (buyer to check with the county and do all due diligence). Units have stayed steadily rented with a waiting list. Rare opportunity to purchase a cash flow investment with great upside!
Note: Please DO NOT go by the property or speak to ANYONE on site without an agent present - must speak to listing agent before going; going to the property without an agent present and speaking to the listing agent first is prohibited.
DATA ROOM Click Here to Access
- Operating and Financials
PROPERTY FACTS
| Price | $4,500,000 | Building Class | C |
| Price Per Unit | $112,500 | Lot Size | 5.00 AC |
| Sale Type | Investment | Building Size | 50,000 SF |
| No. Units | 40 | Average Occupancy | 97% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1986 |
| Apartment Style | Garden | Parking Ratio | 1.28/1,000 SF |
| Zoning | Medium Density Res. | ||
| Price | $4,500,000 |
| Price Per Unit | $112,500 |
| Sale Type | Investment |
| No. Units | 40 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 5.00 AC |
| Building Size | 50,000 SF |
| Average Occupancy | 97% |
| No. Stories | 2 |
| Year Built | 1986 |
| Parking Ratio | 1.28/1,000 SF |
| Zoning | Medium Density Res. |
AMENITIES
UNIT AMENITIES
- Air Conditioning
SITE AMENITIES
- Laundry Facilities
- Playground
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 28 | - | 1,000 |
| 3+2 | 12 | - | 1,200 |
PROPERTY TAXES
| Parcel Number | 125320B | Improvements Assessment | $1,643,800 |
| Land Assessment | $160,000 | Total Assessment | $1,803,800 |
PROPERTY TAXES
Parcel Number
125320B
Land Assessment
$160,000
Improvements Assessment
$1,643,800
Total Assessment
$1,803,800
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Heritage Acres Apartments | 201 Brickyard Dr
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