316 N High St - Multi-Family FOR SALE


Harrisonburg, VA 22802- Downtown Harrisonburg
$550,000 USD
540-421-3556
316 N High St, Harrisonburg, VA for Sale
$550,000 USD
Multi-Family - FOR SALE
1/12
null | 7.91% Cap Rate

316 N High St
Harrisonburg, VA 22802
Downtown Harrisonburg


HIGHLIGHTS

  • Located in Downtown Harrisonburg and less than one mile from James Madison University
  • 2 Units - 3 Bedrooms Each (Up/Down Duplex)
  • Fully leased through summer of 2027.

OVERVIEW

Investment Opportunity – Fully Leased Through June 2027! Exceptional opportunity to own a fully leased investment property in Downtown Harrisonburg, less than one mile from the James Madison University campus. This brick home features six bedrooms and two and a half bathrooms, offering both comfort and functionality for tenants. The property currently generates a strong monthly gross income of $4,500, increasing to $4,770 beginning next year, providing reliable cash flow through mid-2027. Rear-alley access offers convenient off-street parking for residents. With its prime location, solid rental history, and long-term lease in place, this property represents a stable and attractive investment. A zoning verification letter is available upon request. Interior photos have been digitally modified to remove personal items of the tenant. Purchaser should verify the condition of the property through independent inspection.

FOR SALE DETAILS

PRICE

$550,000 USD

PRICE/SF

$231 USD /SF

# OF UNITS

2

PRICE/UNIT

$275,000

CAP RATE

7.91%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

ADD'L SUBTYPES

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1920

PARKING SPACES

-

LAND DETAILS

LAND ACRES

-

LAND SF

-

ZONING

R2

APN/PARCEL ID

035-K-11

ASK ABOUT THIS PROPERTY

Kemper FunkhouserFunkhouser CommercialMore Info
540-421-3556

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Kemper FunkhouserFunkhouser CommercialMore Info
540-421-3556

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