137148 - Multi Units 40 Units

2474 Magnolia Ave, Buena Vista, VA 24416 MLS #137148 Great Investment at foot of SVU! 40 unit apartment complex. Built in 2006. Includes two apartment buildings. 7-2 bedroom units, 6-Studio units, 2 extra large 1 Bedroom units, 25-1 bedroom units. Each have one bath, kitchen, each with P tac heating and cooling units. Good Parking space. Possible Assumable Loan with cash out for difference. Views of SVU from units. There is a coin Laundry and vending machine area which take in about $500 each a month. Rental income $21,000 to $22,000 a month. It has commercial fire alarm system, sprinkler system, and a new video camera surveillance system, and complimentary wi-fi throughout.

 

2474 Magnolia Ave, Buena Vista, VA 24416
MLS #137148

 

Contract Information

		List Price	3,350,000
Gross Rent/Mo	22,000	SAC
SAC Type		BBC
BBC Type		VRC	No
Excl Right to Sell	Yes	Original List Price	3,350,000

Location, Legal & Taxes

Area	Buena Vista	County	Rockbridge
Property Name	University Village	Zone	SE
Plat Y/N	No	Legal	5-38-n 1/2 of lot 13 14-21. Inst.#060001169.
POA Y/N	No	Road Maint Agrmnt	No
Deed Book	Inst.#060001169	Tax Map #	27-1-5-38-13A
Tax Year	2022	Tax Rate	1/21
Taxes $	13,884.50	Subdivision Y/N	No
Location	Corner Lot	Historic Property	No
Conservation Esmnt	No	Zoning	Other (Use Remarks)
Elementary School	Kling/Enderly Hghts	Middle School	Parry McCluer
High School	Parry McCluer	Owner Full Name	Wadsworth Tammy Kenner

General Property Description

Property Type	Multi-Family	Type of Property	Multi-Family
Realtor.com	Multi-Family	#Bedrooms	42
#Baths	40	Total # Units	40
Apx Ttl SF Fnshd	19,968	Apx Ttl Unfnshd SF	0
Year Built	2007	Lot Dimensions	425 X 125
Total Acres Apx	1.19	Rental Type	Monthly
Style	Other (Use Remarks)	Recording device in property	Unknown

Remarks & Misc

Private Remarks	This was an apartment over commercial in front apartment building, but the Commercial is now rental units as well. there are two apartment houses. 40 Units, All information deemed of importance to be confirmed by Purchaser or Purchasers agent, Owner pays water and sewer, but tenants pay a monthly fee for those.
Directions	From Magnolia Ave. Follow to 2474 Magnolia Ave. See sign for University Village at Kenner.

Status Change Info

Status

Active

Status Change Date

08/12/2022

Office/Member Info

Listing Office

Wilhelm & Company Real Estate Mobile: 540-319-3222 Fax: 540-261-6644 Office: 540-261-1717 http://www.wilhelmandcorealestate.com

Listing Member

Barbara Wilhelm Office: 540-261-1717 Fax: 540-261-6644 Other: 540-319-3222 http://www.wilhemandcorealestate.com

Details Unit Information: # Unfurnished Units: 40 Stories: 2 Story Exterior: Vinyl Roof: Shingle Basement: None Parking: 1 Car/Unit; Other: Paved off and on Floor: Carpet; Vinyl Heat: Other: P Tac Cooling: Other: P Tac Water: Public Water

Sewer: Public Sewer Utilities Available: Electric; Public Water Road Surface: Paved Storage: Other: 2 personal Average Rental: 401 - 500; 501 - 600; 601 - 700 Owner Expenses: Insurance; Lawn Care; Management Fee; Snow Removal; Other: Wi-Fi, water & sewer Features: Coin Laundry; Handicap Access; Paved Street; Security Lighting; Security System Covenants: No Unlicense Vehicle Possession: Negotiable Showing Instructions: 24 Hour Notice; Call Listing Agent; Occupied

Units No. # Rooms # Bedrooms # Bath SqFt Income/Mo Unit Remarks Unit #1 33 22 22 9984 11,000

Units No. # Rooms # Bedrooms # Bath SqFt Income/Mo Unit Remarks Unit #2 30 20 18 9984 11,000

 

Information is deemed to be reliable, but is not guaranteed. © 2022 MLS and FBS. Prepared by Wilhelm & Company Real Estate on Saturday, August 13, 2022 10:27 AM. The information on this sheet has been made available by the MLS and may not be the listing of the provider.