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81 Terry Ct - 81 Terry Court 97 Unit Apartment Building Offered at $7,445,000 at a 7.32% Cap Rate Collinsville, VA 24078
Investment Highlights
- 97 Units (1-3 bedroom layouts)
- On Site Amenities (Laundry, Swimming Pool, Playground)
- 8 Buildings
- On Site Managing Office
Executive Summary
Stable investment opportunity ±1 hour from the Roanoke MSA, this property offers 97 units with layouts ranging from 1-3 bedrooms, offering housing solutions that have consistently met growing demand in Collinsville, VA. 8 buildings with common laundry, playground, and swimming pool- the property also features a 3br home that currently serves as an on-site property management office and residential rental. Onsite are additional office/storage structures and a surplus parking lot that would be ideal for a future amenity or expansion. The property has historically operated with low vacancy, providing stable immediate yield with significant upside in rents by completing unit remodels.
Property Facts
| Price | $7,445,000 | Property Type | Multifamily |
| Price Per Unit | $76,753 | Building Size | 83,940 SF |
| Sale Type | Investment | No. Stories | 2 |
| Cap Rate | 7.32% | Year Built | 1973 |
| No. Units | 97 | Parking Ratio | 1.16/1,000 SF |
| Zoning | SR - Residential (Multi-Family) | ||
| Price | $7,445,000 |
| Price Per Unit | $76,753 |
| Sale Type | Investment |
| Cap Rate | 7.32% |
| No. Units | 97 |
| Property Type | Multifamily |
| Building Size | 83,940 SF |
| No. Stories | 2 |
| Year Built | 1973 |
| Parking Ratio | 1.16/1,000 SF |
| Zoning | SR - Residential (Multi-Family) |
Amenities
Site Amenities
- Laundry Facilities
- Playground
- Pool
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 10 | - | - |
| 2+1 | 59 | - | - |
| 3+2 | 27 | - | - |
Somewhat walkable
30/100
Exceptionally drivable
100/100
Minimal public transit
10/100
Somewhat bikeable
20/100
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81 Terry Ct - 81 Terry Court
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