201 Forest Pine Rd | Franklin, VA 23851
This feature is unavailable at the moment.
We apologize, but the feature you are trying to access is currently unavailable. We are aware of this issue and our team is working hard to resolve the matter.
Please check back in a few minutes. We apologize for the inconvenience.
- LoopNet Team
201 Forest Pine Rd
Franklin, VA 23851
Forest Pine Apartments · Multifamily Property For Sale
·
244 Units
Investment Highlights
- Current in-place rents trail comparable properties in the Franklin submarket by nearly $200 per unit.
- Forest Pine was built in five phases: 1968, 1972, 1990, 1994, and 1999. 144 of the 244 units at the property were completed in the last two phases.
- Positioned along U.S. Routes 58 and 460, the property provides direct connectivity to both Hampton Roads and Richmond.
- Current ownership has invested significant capital into operating systems and property enhancements.
- Surrounded by stable and growing population with favorable household incomes, supporting sustainable occupancy and rental growth.
- The submarket features constrained inventory and steady absorption.
Property Facts
| No. Units | 244 | Building Size | 236,364 SF |
| Property Type | Multifamily | Average Occupancy | 95% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Garden | Year Built | 1963 |
| Building Class | C | Parking Ratio | 2.18/1,000 SF |
| Lot Size | 23.27 AC | Cross Streets | Homestead Rd |
| Zoning | R1A | ||
| No. Units | 244 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 23.27 AC |
| Building Size | 236,364 SF |
| Average Occupancy | 95% |
| No. Stories | 2 |
| Year Built | 1963 |
| Parking Ratio | 2.18/1,000 SF |
| Cross Streets | Homestead Rd |
| Zoning | R1A |
Amenities
Unit Amenities
- Air Conditioning
- Balcony
- Cable Ready
- Dishwasher
- Disposal
- Washer/Dryer
- Washer/Dryer Hookup
- Heating
- Ceiling Fans
- Tile Floors
- Eat-in Kitchen
- Vaulted Ceiling
- Refrigerator
- Range
- Carpet
- Wheelchair Accessible (Rooms)
Site Amenities
- Fitness Center
- Laundry Facilities
- Playground
- Property Manager on Site
- Disposal Chutes
- Pet Play Area
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 20 | - | 630 - 768 |
| 2+1 | 48 | - | 834 - 928 |
| 2+2 | 132 | - | 960 - 1,012 |
| 3+1 | 16 | - | 1,085 |
| 3+2 | 28 | - | 1,127 - 1,133 |
Property Taxes
| Parcel Numbers | Improvements Assessment | $11,236,400 | |
| Land Assessment | $972,100 | Total Assessment | $12,208,500 |
Property Taxes
Parcel Numbers
Land Assessment
$972,100
Improvements Assessment
$11,236,400
Total Assessment
$12,208,500
1 of 1
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
