PRICE REDUCED $45,000 from $895,000 to $850,000!! This elegant, two-story brick townhouse style apartment community is situated in a quiet residential neighborhood on a .95 acre lot less than 2.5 miles from Radford University with over 9,400 students. The building contains twelve 2BR/1.5 bath units and is fully rented to a mix of students, professionals, and families.
The property has been well maintained under current ownership with many recent upgrades including new insulation in the crawl space, new commercial guttering, and new ductless mini-split HVAC systems on each of the two end units. The other units operate with baseboard electric heat and window A/C units for cooling. Electric service is separated for each unit. Owner pays trash and water & sewer, which is on public utility service. Each unit features a private patio & storage shed with insulated, hinged patio doors. In unit laundry hook ups available. Investors will appreciate the opportunity to generate upside through gradual increases in rents.
The town of Radford is part of the Blacksburg-Christiansburg-Radford MSA that contains both Radford University as well as Virginia Tech University, the second largest public university in the state. As of the 2010 census, the MSA had a population of 162,958.
Radford has experienced steady growth in recent years due largely to strategic partnerships forged by Radford University. In 2018, it was announced that Radford would merge with the Jefferson College of Health Sciences in Roanoke, which is expected to double the number of nursing students within the next five years. In November 2019, Governor Ralph Northam announced the Radford University would receive $17.3 in funding over the next 20 years as part of a statewide initiative known as the Tech Talent Investment Program, which is slated to add 400 additional graduates in emerging tech fields. Continued expansion of the university has fueled numerous private-market economic development projects in the area, which should continue to increase tourism and add to local lifestyle amenities.
