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316 N High St 2 Unit Apartment Building Offered at $550,000 at a 7.91% Cap Rate Harrisonburg, VA 22802
INVESTMENT HIGHLIGHTS
- Located in Downtown Harrisonburg and less than one mile from James Madison University
- Fully leased through summer of 2027.
- 2 Units - 3 Bedrooms Each (Up/Down Duplex)
EXECUTIVE SUMMARY
Investment Opportunity – Fully Leased Through June 2027!
Exceptional opportunity to own a fully leased investment property in Downtown Harrisonburg, less than one mile from the James Madison University campus. This brick home features six bedrooms and two and a half bathrooms, offering both comfort and functionality for tenants. The property currently generates a strong monthly gross income of $4,500, increasing to $4,770 beginning next year, providing reliable cash flow through mid-2027. Rear-alley access offers convenient off-street parking for residents. With its prime location, solid rental history, and long-term lease in place, this property represents a stable and attractive investment.
A zoning verification letter is available upon request. Interior photos have been digitally modified to remove personal items of the tenant. Purchaser should verify the condition of the property through independent inspection.
Exceptional opportunity to own a fully leased investment property in Downtown Harrisonburg, less than one mile from the James Madison University campus. This brick home features six bedrooms and two and a half bathrooms, offering both comfort and functionality for tenants. The property currently generates a strong monthly gross income of $4,500, increasing to $4,770 beginning next year, providing reliable cash flow through mid-2027. Rear-alley access offers convenient off-street parking for residents. With its prime location, solid rental history, and long-term lease in place, this property represents a stable and attractive investment.
A zoning verification letter is available upon request. Interior photos have been digitally modified to remove personal items of the tenant. Purchaser should verify the condition of the property through independent inspection.
FINANCIAL SUMMARY (ACTUAL - 2026) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$55,014
|
$23.08
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$55,014
|
$23.08
|
| Net Operating Income |
-
|
-
|
FINANCIAL SUMMARY (ACTUAL - 2026)
| Gross Rental Income | |
|---|---|
| Annual | $55,014 |
| Annual Per SF | $23.08 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $55,014 |
| Annual Per SF | $23.08 |
| Net Operating Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
PROPERTY FACTS
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 3+1 | 2 | - | - |
1 1
Walk Score®
Very Walkable (83)
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316 N High St
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