Address
32 Sweet Magnolia Ln Rockingham, VA
Price
$ 1,800,000
Property Attributes
  • MLS#596193
  • TypeMulti-Family
  • CountyROCKINGHAM
  • CityRockingham
  • AreaRockingham
  • Zip22802
  • Style4+ Apts
  • Year Built2009
  • Taxes6917
  • Price$ 1,800,000
  • Bedrooms5
  • Full Bathrooms3
  • Half Bathrooms0
  • Sqr Footage8500
  • Lot Size1.51 Acres
Listing Provided Courtesy Of:
Funkhouser Real Estate Group
Property Description

Strong multi-family or commercial investment opportunity conveniently located just north of Harrisonburg right off I-81. 32 unit multi-family property consisting of 30 one-bedroom efficiency apartments, 1 three-bedroom unit, and 1 oversized one-bedroom unit. Gross income over $210K annually. Strong rental history with low vacancy rates, and many long-term tenants. Currently fully leased on a weekly or monthly basis. Tenants could be converted to annual lease to make property management more convenient.

Elementary School Middle School High School
Cub Run (Rockingham) Elementary School Montevideo Middle School Spotswood High School
Price History
10/1/2019 Listed $1,800,000

General Features

Access Public Road
Class MULTI-FAMILY
Green Features No
HOA No
High School Spotswood
Legal Description Valley Pike
Listing Area Rockingham
Middle School Montevideo
New Construction No
Over 55 Community No
Price Per Sq Ft 211.76
Status Active
Status Active
SubArea Rockingham Co NW
Subdivision NONE
Tax Year 2017
Taxes 6917
Type 4+ Apts
Year Built 2009
Zoning B-1 Business General

Interior Features

Air Conditioning Central AC
Heating Electric
Kitchen Appliances/feat Electric Range, Microwave
Kitchen Cabinets/counters Wood Cabinets
Storage Shed
Structure-floors Carpet, Vinyl
Total Finished Sq. Ft. 8500
Total Number of Units 32
Unit 1: # Baths 1
Unit 1: # Beds 1
Unit 1: # Sqft 270
Unit 1: # Units 30
Unit 1: Type Efficiency
Unit 2: # Baths 1
Unit 2: # Beds 3
Unit 2: # Sqft 500
Unit 2: # Units 1
Unit 2: Type 3 Bed Apt
Unit 3: # Baths 1
Unit 3: # Beds 1
Unit 3: # Sqft 270
Unit 3: # Units 1
Unit 3: Type 1 Bed Apt

Exterior Features

Exterior Vinyl
Foundation Concrete Slab
Lot Size Area 1.51
Roof Composition Shingle
Sewer/Septic Public Sewer
Water Public Water

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Master On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Zip Code Average in 22802

Price
AVG $1.8M
$1.8M
Taxes
AVG $6,917
$6,917
Visits
AVG 9
8
Year Built
AVG 2009
2009

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