14694 Wallace Pike - Apartments FOR SALE


Abingdon, VA 24210
$1,100,000 USD
615-973-5373
14694 Wallace Pike, Abingdon, VA for Sale
$1,100,000 USD
Apartments - FOR SALE
1/48
null | 6.45% Cap Rate

14694 Wallace Pike
Abingdon, VA 24210


HIGHLIGHTS

  • Over $100,000 in capital improvements completed within the last 36 months
  • Conveniently located near shopping centers, Glenrochie Golf Course, and the new Hard Rock Casino Bristol
  • Positioned on 2.61 acres of open space featuring a creek and fishpond, offering peaceful country living
  • Window units replaced as needed
  • Property features copper wiring and PVC piping
  • Individually metered for electric and master-metered for water

OVERVIEW

Deal Room and Financials: https://www.marcusmillichap.com/properties/187478/countryside-apartments Marcus & Millichap has been selected to exclusively market for sale the Countryside Apartments in Abingdon, VA. This offering will allow a potential investor to purchase a rare value-add investment opportunity located in Abingdon, VA. Countryside Apartments is an 11-unit multifamily property located on 2.61 acres in scenic Abingdon, VA, offering a mix of 1-, 2-, and 3-bedroom units. The property has undergone over $100,000 in capital improvements within the last three years, with all units recently updated with new flooring, fixtures, appliances, paint, and A/C units. Tenants enjoy a peaceful country setting complete with a creek and fishpond, while still benefiting from close proximity to shopping, Glenrochie Golf Course, and the new Hard Rock Casino Bristol. With strong in-place infrastructure and a stable tenant base, Countryside Apartments presents a compelling value-add investment opportunity in a growing regional market. Offers should be presented in the form of a non-binding Letter of Intent, spelling out the significant terms and conditions of the Purchaser’s offer including, but not limited to: 1) asset pricing, 2) due diligence and closing time frame, 3) earnest money deposit, 4) a description of the debt/equity structure, and 5) qualification to close. The purchase terms shall require all cash to be paid at closing. At no point should tenants or staff be contacted regarding the sale of the Countryside Apartments.

FOR SALE DETAILS

PRICE

$1,100,000 USD

PRICE/SF

$107 USD /SF

# OF UNITS

11

PRICE/UNIT

$100,000

CAP RATE

6.45%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Countryside Apartments

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Manufactured Housing/Mobile Housing, Dormitory

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1979

PARKING SPACES

15

LAND DETAILS

LAND ACRES

2.61 AC

LAND SF

113,692 SF

ZONING

Multi Family

APN/PARCEL ID

122-5-32B

ASK ABOUT THIS PROPERTY

Patrick CosgroveMarcus & MillichapMore Info
615-973-5373

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Patrick CosgroveMarcus & MillichapMore Info
615-973-5373

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.