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6704 Cedar Lake Dr 4 Unit Apartment Building $550,000 ($137,500/Unit) Gloucester, VA 23061
Investment Highlights
- Three of the 4 Units have been remodeled.
- Great Rental Potential
Executive Summary
Investors - here it is! Gloucester Courthouse quadplex recently renovated & updated offering 4 two-bedroom, 1 bath units with heat pumps/central air, newer water heaters, appliances & each have their own washer/dryer hookups. They are on county water & convenient to the hospital, Beaverdam Park, schools, shops & dining. Three units were JUST REMODELED and left for you to choose your own tenants with rent potential easily at $1,250 - $1,350 per unit. One unit is leased on a month-to-month. New siding, roof & rear windows 2022, new front windows 2020. Other recent renovations include flooring, paint, cabinetry, countertops & appliances. An excellent investment opportunity!
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Taxes |
$1,727
|
$0.53
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$1,727
|
$0.53
|
Financial Summary (Actual - 2025)
| Taxes | |
|---|---|
| Annual | $1,727 |
| Annual Per SF | $0.53 |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $1,727 |
| Annual Per SF | $0.53 |
Property Facts
| Price | $550,000 | Building Class | C |
| Price Per Unit | $137,500 | Lot Size | 0.46 AC |
| Sale Type | Investment | Building Size | 3,264 SF |
| No. Units | 4 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1984 |
| Property Subtype | Apartment | ||
| Zoning | Multi-Family - Multi-family units. | ||
| Price | $550,000 |
| Price Per Unit | $137,500 |
| Sale Type | Investment |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.46 AC |
| Building Size | 3,264 SF |
| No. Stories | 2 |
| Year Built | 1984 |
| Zoning | Multi-Family - Multi-family units. |
Amenities
Unit Amenities
- Air Conditioning
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 4 | - | 760 |
1 1
Property Taxes
| Parcel Number | 23461 | Total Assessment | $281,220 |
| Land Assessment | $100,000 | Annual Taxes | $1,727 ($0.53/SF) |
| Improvements Assessment | $181,220 | Tax Year | 2025 |
Property Taxes
Parcel Number
23461
Land Assessment
$100,000
Improvements Assessment
$181,220
Total Assessment
$281,220
Annual Taxes
$1,727 ($0.53/SF)
Tax Year
2025
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6704 Cedar Lake Dr
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