Harrisonburg, VA 22801,0 DUTCH MILL CT
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Harrisonburg, VA 22801,0 DUTCH MILL CT
Harrisonburg, VA 22801,0 DUTCH MILL CT
Harrisonburg, VA 22801,0 DUTCH MILL CT
Harrisonburg, VA 22801,0 DUTCH MILL CT

$7,200,000

Est. payment /mo

$8,149,000

11.6%
Est.Price: ?

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0 DUTCH MILL CT Harrisonburg, VA 22801

49,338 SqFt

SOLD DATE : 08/24/2022

Key Details

Sold Price $7,200,000

Property Type Commercial

Sub Type Five Or More Units

Listing Status Sold

Purchase Type For Sale

Square Footage 49,338 sqft

Price per Sqft $145

MLS Listing ID VAHC2000064

Sold Date 08/24/22

Originating Board BRIGHT

Year Built 1978

Annual Tax Amount $49,523

Tax Year 2022

Lot Size 4 Sqft

Property Description

This 80-unit multifamily investment is currently near 100% occupied and produces a cap rate of 6% on net operating income of 495,000. There are currently 59 1 bedroom apartments, 18 2 bedroom apartments, and 3 3 bedroom apartments. There are 10 buildings ranging from 3 units in a building up to 16 units in a building on 9 different tax tickets. Current rental rates in the market and within the complex have steadily appreciated over the last 5 years while keeping a low vacancy rate. The location of these apartments give tenants great access to employment, shopping, entertainment and local dining. With limited availability of market rate apartments in the city, these apartments make a great investment for any investor looking to maximize there return on investment. The current landlord provides tenants with many great benefits including a laundromat, trash dumpsters, snow removal, lawn care and paid water and sewer. Don't miss out on this rare opportunity to own an investment for the future.

Location

State VA

County Harrisonburg City

Zoning R3

Interior

Hot Water Electric

Heating Baseboard - Electric

Cooling None

Heat Source Electric

Exterior

Water Access N

Accessibility None

Garage N

Building

Sewer Public Sewer

Water Public

New Construction N

Schools

School District Harrisonburg City Public Schools

Others

Tax ID NO TAX RECORD

Ownership Fee Simple

SqFt Source Estimated

Special Listing Condition Standard

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Bright MLS (BMLS)
Listed by Chad G Branson • Old Dominion Realty
Bought with John A Bowman • Old Dominion Realty

Bobbi Farquhar

Advisor | License ID: 603292

+1(301) 752-3088

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