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Ridgemont Circle 79 Ridgemont Cir 8 Unit Apartment Building $625,000 ($78,125/Unit) 9.92% Cap Rate Collinsville, VA 24078
Investment Highlights
- Newly Renovated with LVP Flooring, fixtures
- Parking Spaces for at least 2 cars per apartment
- Public Water & Sewer included in rent
- Roof Replaced in 2022 - 2023
- Private Setting, not visible from the main road
Executive Summary
Newly renovated 8 unit apartments, one bedroom, one bath each in a private setting in the Collinsville area of Henry County, VA. Renovations include luxury vinyl plank flooring, fresh paint, and new fixtures. Roof replaced in 2022-2023 per previous owner. Schools, shopping, hospital and two colleges are within 10 miles. Easy commute north to Roanoke (45 min drive) , south to Greensboro, NC (1 hr drive) and east to Danville, VA (30 min). As renovations are being completed now, the units are vacant. The income listed is based on projected rent of $750 per unit or $72K annually. Minimal expenses include real estate taxes, insurance, PSA water & sewer and dumpster of approximately $10K per year. Income producing laundry room included. Lot size, rents and expenses are estimated. Buyer to verify. Call now for an appointment to view this upscale investment opportunity.
Financial Summary (Pro Forma - 2026) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$72,000
|
$11.43
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$72,000
|
$11.43
|
| Taxes |
$1,400
|
$0.22
|
| Operating Expenses |
$8,600
|
$1.37
|
| Total Expenses |
$10,000
|
$1.59
|
| Net Operating Income |
$62,000
|
$9.84
|
Financial Summary (Pro Forma - 2026)
| Gross Rental Income | |
|---|---|
| Annual | $72,000 |
| Annual Per SF | $11.43 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $72,000 |
| Annual Per SF | $11.43 |
| Taxes | |
|---|---|
| Annual | $1,400 |
| Annual Per SF | $0.22 |
| Operating Expenses | |
|---|---|
| Annual | $8,600 |
| Annual Per SF | $1.37 |
| Total Expenses | |
|---|---|
| Annual | $10,000 |
| Annual Per SF | $1.59 |
| Net Operating Income | |
|---|---|
| Annual | $62,000 |
| Annual Per SF | $9.84 |
Property Facts
| Price | $625,000 | Building Class | C |
| Price Per Unit | $78,125 | Lot Size | 1.50 AC |
| Sale Type | Investment | Building Size | 6,300 SF |
| Cap Rate | 9.92% | No. Stories | 2 |
| No. Units | 8 | Year Built/Renovated | 1984/2026 |
| Property Type | Multifamily | Parking Ratio | 3.17/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | SR - Suburban Residential - Suburban Residential - mainly for single family homes but also allows multifamily | ||
| Price | $625,000 |
| Price Per Unit | $78,125 |
| Sale Type | Investment |
| Cap Rate | 9.92% |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 1.50 AC |
| Building Size | 6,300 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1984/2026 |
| Parking Ratio | 3.17/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | SR - Suburban Residential - Suburban Residential - mainly for single family homes but also allows multifamily |
Amenities
Unit Amenities
- Air Conditioning
- Balcony
- Storage Space
- Refrigerator
- Range
- Tub/Shower
- Vinyl Flooring
Site Amenities
- Laundry Facilities
- Trash Pickup - Curbside
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 8 | $750.00 | 750 |
1 1
Somewhat walkable
20/100
Exceptionally drivable
90/100
Somewhat bikeable
30/100
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Ridgemont Circle | 79 Ridgemont Cir
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