Investor Special in Harrisonburg’s high-demand rental corridor—this fully leased 5-unit multifamily property at 95 Dutch Mill Ct offers a compelling opportunity just minutes from James Madison University and downtown. With a smart unit mix of two 1-bedroom units, two 2-bedroom units, and one 3-bedroom unit, the asset is well-positioned to attract both students and professionals.
Currently generating $64,500 in annual gross rent, the property presents significant upside through rent adjustments, as current rates are below market. The building sits on 0.46 acres and was constructed in 1978, with a total of 4,352 finished square feet. Each unit includes a refrigerator and stove, and the owner covers insurance, management, trash, and taxes—streamlining operations for a new buyer.
The location benefits from proximity to Reservoir Street, offering direct access to Dutch Mill Ct, and is served by public utilities. Zoned R-3 Multifamily, the property is ideal for continued residential use or potential redevelopment. With minimal maintenance required and strong existing cash flow, this turn-key investment is suited for both seasoned investors and first-time buyers seeking a value-add opportunity in a vibrant university town.