8832 Abilene Rd | Farmville, VA 23901
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- LoopNet Team
8832 Abilene Rd
Farmville, VA 23901
Lofts at Worsham School · Multifamily Property For Sale
·
20 Units
INVESTMENT HIGHLIGHTS
- Zero competition or development pipeline in a growing market
- Monetize huge resident lounge, formerly the school auditorium, by adding premium amenitites or converting to several additional units
- Proximity to Hampden-Sydney College and Longwood University provides student housing optionality
- Solid track record of 100% non-student occupancy with 6% rent growth at renewals and 10% at trade outs
- Residual acreage included in the purchase is zoned by right for future residential development
PROPERTY FACTS
| No. Units | 20 | Building Size | 23,725 SF |
| Property Type | Multifamily | Average Occupancy | 100% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Low-Rise | Year Built/Renovated | 1927/2011 |
| Building Class | B | Parking Ratio | 1.73/1,000 SF |
| Lot Size | 4.17 AC |
| No. Units | 20 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 4.17 AC |
| Building Size | 23,725 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1927/2011 |
| Parking Ratio | 1.73/1,000 SF |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Washer/Dryer
- Heating
- Kitchen
- Hardwood Floors
- Refrigerator
- Oven
- Stainless Steel Appliances
- Range
- Tub/Shower
- Freezer
SITE AMENITIES
- Fitness Center
- Multi Use Room
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 20 | - | 600 - 850 |
PROPERTY TAXES
| Parcel Number | 064-A-59 | Improvements Assessment | $848,500 |
| Land Assessment | $127,200 | Total Assessment | $975,700 |
PROPERTY TAXES
Parcel Number
064-A-59
Land Assessment
$127,200
Improvements Assessment
$848,500
Total Assessment
$975,700
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