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Petersburg Mixed-Use Income Producing 53-Unit Portfolio - Motivated Seller

Listing was updated at: 07/07/2019
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Property Overview

Price/Rent PSF Inquire
Asset Type Multifamily
Trade Type Sale
SQ. FT. Available 97,265
Date Available 07/07/2019
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Description

Location
53 Properties located throughout Historic Downtown Petersburg and residential neighborhoods in the city.

Sale
9% Cap Rate on Mixed-Use Portfolio of 53 Properties sold individually, in group(s) or together and located throughout Historic Downtown Petersburg and residential neighborhoods in the city; including 12 multi-family, 37 single-family, 2 commercial and 2 vacant lots. NOI is currently $400,000 with opportunity to add value as Va. State University, federal military bases and nearby industry provide a stable and growing tenant base and opportunity to increase rents with mostly cosmetic improvementsand landscaping. While 90% of properties were renovated at some point, tenants occupy them and most need some updating and/or cosmetic repair.

Location

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