- Northumberland County, Heathsville, VA Multi Family Apartments with 15,032 SQFT
- Plenty of Parking
- 29 units:
26 – Efficiency Apts
3 – Two-Bedroom Apts
- Formerly Wicomico Apts/Wicomico Middle School
- This property includes 4 renovated buildings consisting of 29 apartments. The buildings were renovated 9 years ago and were formerly known as “Wicomico School”. There are currently 15 active Tenants in place, 13 vacant units, and 1 unit used for storage that can be converted to a rentable unit. Current gross rental income is $7,500 with upside to double income at minimum with improving vacant units.
- The parcel consists of 7.79 acres and may have 2 additional building sites with soil suitable for additional septic systems– purchaser to confirm.
- The approximate square footage of the buildings are 15,032 and breaks out as follows (All units currently being rented below market value)
Building A 1792 square feet – 2 units ($550-600/month)
Building B 2800 square feet – 6 units (350-400 each)
Building C 7504 square feet – 16 units (320-450 each)
Building D 3036 square feet – 5 units (375-450 each)
*Includes – Government Subsidized Housing currently rentable for Section 8 @$575/month each. Market rent for 2 bedroom units is closer to $700. This is the lowest rent in the area!
- Appraisals – https://drive.google.com/drive/folders/1dK8RPaQuvAcJBC3YxK8mqmxWE2l9JfME?usp=sharing
- 6 Septic Systems:
Building A & B each have their own Septic Systems, Building C & D each have 2 Septic Systems (320-400 square feet per unit
- 29 units – 8 currently rented (1 used for storage)
- Metal Roofs – 7 years old
- Plenty of parking
- Kitchen/LR combo and BR in each unit
- 2 Artesian Wells (and City Water available)
- Renovated 6 years ago
- Cable TV available
- Wall to wall carpet and vinyl in each unit
- 2 additional building sites on the parcel
- Heat pump for heat/AC in each unit (several new upgraded units installed)
- Each unit on it’s own 100 Amp Electric Meter
Pictures: https://drive.google.com/drive/folders/1csG7rHxQNE7EZfdz030FmWuDN7aa7zCZ?usp=sharing
The showing is TBD.
If interested, register for the open house to get the time and RSVP: https://www.4brothersdeals.com/openhouse/.
Any offers due Friday, March 5, 12PM.
Closing is scheduled for Friday, March 19.
To Make An Offer, Click Here: https://www.4brothersdeals.com/make-offer/.