$7,200,000
$8,149,000
11.6%For more information regarding the value of a property, please contact us for a free consultation.
0 DUTCH MILL CT Harrisonburg, VA 22801
49,338 SqFt
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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Bought with John A Bowman • Old Dominion Realty
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