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Smore's House 217 W 28th St 4 Unit Apartment Building $399,900 ($99,975/Unit) Buena Vista, VA 24416
Executive Summary
Fully Occupied 4-Unit Multifamily Investment Across from Southern Virginia University
217 W 28th Street | Buena Vista, Virginia | $399,900
Opportunity to acquire a fully occupied, income-producing four-unit multifamily property strategically located directly across from Southern Virginia University in Buena Vista, Virginia.
The approximately 2,604-square-foot property underwent extensive renovations in 2020 and features four furnished rental units with established tenants currently in place. The property presently generates $2,950 per month / $35,400 annually in gross scheduled rental income.
Investment Highlights
100% occupied – all four units currently rented
$2,950 current monthly gross rental income
$35,400 current annual gross scheduled rental income
Four-unit multifamily configuration
Offered at $399,900
Approximately 2,604 finished square feet
Approximately 8.85% gross annual rent-to-price ratio
Extensive renovation completed in 2020
Directly across from Southern Virginia University
Furnished rental units
Established tenants and existing rental income
On-site laundry
Tenants handle lawn care and snow removal
Owner currently self-manages the property
Multiple off-street parking areas
Paved front driveway accommodating approximately four vehicles
Additional gravel parking area at rear of property with space for multiple vehicles
RV hookup located at rear of property
Convenient access to downtown Buena Vista and surrounding amenities
Current Rent Roll
The four occupied units currently generate individual monthly rents of:
$650 | $700 | $750 | $850
Total Monthly Gross Rent: $2,950
Annual Gross Scheduled Rent: $35,400
Current security deposits total $1,875.
Current Operating Information
Known owner-paid operating expenses currently include internet, electricity, water/sewer/trash, property insurance and real estate taxes.
Tenants are responsible for lawn care and snow removal, and the property is currently self-managed by the owner, eliminating an existing third-party property management expense.
Additional financial information, rent roll, lease information and available property documentation can be provided to qualified prospective purchasers upon request.
With all four units currently leased, a purchaser has the opportunity to acquire an established multifamily asset with rental income already in place.
The property's location directly across from Southern Virginia University, extensive 2020 renovation, multiple parking areas and existing rental income combine to create a distinctive investment opportunity in the Buena Vista market.
Offered at $399,900.
Contact the listing agent for additional investment information or to schedule a private property tour.
#InvestmentProperty #CashFlow #RealEstateInvestor #StudentHousing #SouthernVirginiaUniversity #RentalProperty #BuyAndHold #PassiveIncome #VirginiaRealEstate #BuenaVistaVA #PriceReduced
217 W 28th Street | Buena Vista, Virginia | $399,900
Opportunity to acquire a fully occupied, income-producing four-unit multifamily property strategically located directly across from Southern Virginia University in Buena Vista, Virginia.
The approximately 2,604-square-foot property underwent extensive renovations in 2020 and features four furnished rental units with established tenants currently in place. The property presently generates $2,950 per month / $35,400 annually in gross scheduled rental income.
Investment Highlights
100% occupied – all four units currently rented
$2,950 current monthly gross rental income
$35,400 current annual gross scheduled rental income
Four-unit multifamily configuration
Offered at $399,900
Approximately 2,604 finished square feet
Approximately 8.85% gross annual rent-to-price ratio
Extensive renovation completed in 2020
Directly across from Southern Virginia University
Furnished rental units
Established tenants and existing rental income
On-site laundry
Tenants handle lawn care and snow removal
Owner currently self-manages the property
Multiple off-street parking areas
Paved front driveway accommodating approximately four vehicles
Additional gravel parking area at rear of property with space for multiple vehicles
RV hookup located at rear of property
Convenient access to downtown Buena Vista and surrounding amenities
Current Rent Roll
The four occupied units currently generate individual monthly rents of:
$650 | $700 | $750 | $850
Total Monthly Gross Rent: $2,950
Annual Gross Scheduled Rent: $35,400
Current security deposits total $1,875.
Current Operating Information
Known owner-paid operating expenses currently include internet, electricity, water/sewer/trash, property insurance and real estate taxes.
Tenants are responsible for lawn care and snow removal, and the property is currently self-managed by the owner, eliminating an existing third-party property management expense.
Additional financial information, rent roll, lease information and available property documentation can be provided to qualified prospective purchasers upon request.
With all four units currently leased, a purchaser has the opportunity to acquire an established multifamily asset with rental income already in place.
The property's location directly across from Southern Virginia University, extensive 2020 renovation, multiple parking areas and existing rental income combine to create a distinctive investment opportunity in the Buena Vista market.
Offered at $399,900.
Contact the listing agent for additional investment information or to schedule a private property tour.
#InvestmentProperty #CashFlow #RealEstateInvestor #StudentHousing #SouthernVirginiaUniversity #RentalProperty #BuyAndHold #PassiveIncome #VirginiaRealEstate #BuenaVistaVA #PriceReduced
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
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
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 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 4 | $750.00 | - |
Somewhat walkable
30/100
Very drivable
80/100
Limited public transit
30/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Number | 18- 1- 5-21- 22 | Total Assessment | $281,500 |
| Land Assessment | $18,000 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $263,500 | Tax Year | 2025 |
Property Taxes
Parcel Number
18- 1- 5-21- 22
Land Assessment
$18,000
Improvements Assessment
$263,500
Total Assessment
$281,500
Annual Taxes
($1) ($0.00/SF)
Tax Year
2025
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Smore's House | 217 W 28th St