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Smith Street Apartments 210 Smith St 39 Unit Apartment Building For Sale South Hill, VA 23970
INVESTMENT HIGHLIGHTS
- Value Add Opportunity - $200 Rent Premiums
- Individual Back Patios
- 1 mile from downtown south hill
- W/D Hook ups in each unit
- Townhome style 2-bed units
- Brand new roofs
EXECUTIVE SUMMARY
CBRE Multifamily is pleased to present the sale of Smith Street Apartments in South Hill, Virginia.
Smith Street offers investors a compelling opportunity to acquire a well-constructed property in a rapidly growing tertiary market in Virginia. Built in the early to mid-1990s, this 39-unit complex (comprising 36 two-bedroom units and 3 one-bedroom units, all with private patios) is ideally positioned for a value-add strategy.
Benefiting from the area’s burgeoning population, fueled by the presence of 12 data center sites (including 8 owned by Microsoft), the property currently boasts average rents of $785. This presents an excellent opportunity to increase rental income by $200 per unit through implementation of a value add program.
Smith Street offers investors a compelling opportunity to acquire a well-constructed property in a rapidly growing tertiary market in Virginia. Built in the early to mid-1990s, this 39-unit complex (comprising 36 two-bedroom units and 3 one-bedroom units, all with private patios) is ideally positioned for a value-add strategy.
Benefiting from the area’s burgeoning population, fueled by the presence of 12 data center sites (including 8 owned by Microsoft), the property currently boasts average rents of $785. This presents an excellent opportunity to increase rental income by $200 per unit through implementation of a value add program.
DATA ROOM Click Here to Access
- Offering Memorandum
PROPERTY FACTS Under Contract
| Sale Type | Investment | Lot Size | 3.05 AC |
| No. Units | 39 | Building Size | 37,069 SF |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built/Renovated | 1992/1996 |
| Apartment Style | Garden | Parking Ratio | 1.97/1,000 SF |
| Building Class | C | Opportunity Zone |
Yes
|
| Zoning | 216 | ||
| Sale Type | Investment |
| No. Units | 39 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 3.05 AC |
| Building Size | 37,069 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1992/1996 |
| Parking Ratio | 1.97/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | 216 |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Dishwasher
- Disposal
- Heating
- Kitchen
- Refrigerator
- Oven
- Stainless Steel Appliances
- Tub/Shower
- Walk-In Closets
- Freezer
SITE AMENITIES
- 24 Hour Access
- Property Manager on Site
- Walking/Biking Trails
- Public Transportation
- Walk-Up
- Smoke Detector
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PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $1,925,600 | |
| Land Assessment | $140,000 | Total Assessment | $2,065,600 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$140,000
Improvements Assessment
$1,925,600
Total Assessment
$2,065,600
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MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW
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Smith Street Apartments | 210 Smith St
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