201 Forest Pine Rd - Apartments FOR SALE
Franklin, VA 23851 |
703-663-6225
201 Forest Pine Rd
Franklin, VA 23851
HIGHLIGHTS
- Current in-place rents trail comparable properties in the Franklin submarket by nearly $200 per unit.
- Current ownership has invested significant capital into operating systems and property enhancements.
- Forest Pine was built in five phases: 1968, 1972, 1990, 1994, and 1999. 144 of the 244 units at the property were completed in the last two phases.
- Surrounded by stable and growing population with favorable household incomes, supporting sustainable occupancy and rental growth.
- Positioned along U.S. Routes 58 and 460, the property provides direct connectivity to both Hampton Roads and Richmond.
- The submarket features constrained inventory and steady absorption.
OVERVIEW
The Newmark Southern Virginia Multifamily Team, as exclusive advisor, is pleased to present a rare opportunity to acquire a 244-unit multifamily community in Franklin County, Virginia. Strategically located along U.S. Routes 58 and 460, the Property enjoys direct access to both the Hampton Roads and Richmond regions while benefiting from the stability of a smaller, supply-constrained market.
FOR SALE DETAILS
BUILDING DETAILS
PROPERTY NAME
Forest Pine Apartments
PROPERTY TYPE
Multi-Family
APARTMENT STYLE
Garden
PROPERTY SUBTYPE
Apartments
TOTAL BUILDING SIZE
-
STORIES
2
YEAR BUILT
1963
PARKING SPACES
400
LAND DETAILS
LAND ACRES
23.27 AC
LAND SF
1,013,641 SF
ZONING
R1A
APN/PARCEL ID
089-029-2,2A,089-107-1,089-107-2,089-107-3
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703-663-6225
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703-663-6225
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