336-706-1290
301 Rotunda St, Lynchburg, VA for Sale
Apartments - FOR SALE
1/51
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301 Rotunda St
Lynchburg, VA 24502
Cornerstone


HIGHLIGHTS

  • The Commons at Cornerstone is a 68-unit Class B apartment complex situated in the desirable Cornerstone community.
  • Cornerstone is Lynchburg Virginia’s fastest growing and most exciting new community.
  • Amenities include a 25-acre park, a pool, spa, splash pack, volleyball courts, picnic tables and greenspace throughout.
  • The property has a unit mix of (22) 3 Bed /2 Bath and (46) 2 Bed /2 Bath.

OVERVIEW

The Commons at Cornerstone is a 68-unit multifamily property for sale located in the desirable Cornerstone community. This Class B apartment complex offers a unique investment opportunity with strong tenant demand, thanks to its blend of affordable apartments and high-quality living. The property features a unit mix of (22) 3-bedroom, 2-bath apartments and (46) 2-bedroom, 2-bath apartments, with a high occupancy rate of 95%. Additionally, the property includes 30 storage units for sale located beneath 101 and 121 Colonnade Street, which are currently 66% occupied. The 3-bedroom units are rented at an average of $1,370 per month, with market rent for comparable units at $1,515, providing a 10% rent increase opportunity. The 2-bedroom units are rented at an average of $1,207 per month, while market rent for similar units is $1,450, indicating a 20% rent increase opportunity. With 68% of the units being 2-bedroom, 2-bath and 32% being 3-bedroom, 3-bath, this property represents a prime opportunity for investors seeking a well-located, value-add multifamily asset.

FOR SALE DETAILS

PRICE

Request Info for Price

# OF UNITS

68

CAP RATE

Request Cap Rate

% LEASED

96%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Multifamily For Sale in Lynchburg, VA

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

2013

PARKING SPACES

-

LAND DETAILS

LAND ACRES

2.73 AC

LAND SF

118,731 SF

ZONING

R-1

APN/PARCEL ID

263-16-018,263-16-019,263-16-020

ASK ABOUT THIS PROPERTY

Spencer CriglerOne Alliance CompaniesMore Info
336-706-1290

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Spencer CriglerOne Alliance CompaniesMore Info
336-706-1290

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