Investor's dream with massive upside potential. This 15-unit portfolio includes a renovated 1930s main home, 14 single-wide mobile homes, and a 3050 metal shop with 12' ceilings plus two 1224 attached sheds with office potential all on one parcel. Units range from 2/1 to 2/1.5 and are in various stages of condition, offering immediate renovation upside. Previously rented at $700/mo per mobile home and $1,500/mo for the main house. The shop and office space provide additional income potential. A high-flow artesian well serves all 15 units with metered billing at $25/mo for the first 1,500 gallons. Grandfathered septic system serves the full property. One unit sustained fire damage and will require removal/replacement. Additional capital investment required but stabilized rents at a 9-cap yield an ARV exceeding $1,100,000. Opportunities like this are rare. Schedule your showing today.
56 days
|
266
|
19
|
Zillow last checked:
Listing updated:
Listed by:
Karl Miller434-942-7009karl@karlmillerteam.com,
Karl Miller Realty LLC434-239-2394,
Mike Guess434-258-3777,
New Leaf Real Estate LLC
Source: LMLS,MLS#: 367258Originating MLS: Lynchburg Board of Realtors
Facts & features
Interior
Bedrooms & bathrooms
Bedrooms: 13
Bathrooms: 9
Full bathrooms: 7
1/2 bathrooms: 2
Heating
Forced Warm Air-Oil, Heat Pump
Cooling
Window Unit(s)
Appliances
Included: Individual Water Heater, Unit 2(Range/Oven), Unit 3(Range/Oven)
Laundry: Individual Laundry, Unit 1(Dryer Hookup, Washer Hookup), Unit 2(Dryer Hookup, Washer Hookup), Unit 3(Dryer Hookup, Washer Hookup)
Features
Flooring: Carpet, Vinyl, Other
Has fireplace: Yes
Interior area
Total structure area: 0
Property
Parking
Parking features: 2 Spaces/Unit, Guest, Off Street, Unpaved Drive
Has uncovered spaces: Yes
Features
Patio & porch: Unit 1(Balcony/Patio, Porch), Unit 2(Porch)
Explore the cost of this home by adjusting the details. Changes won't be saved.
Principal & interest
$1,547
Mortgage insurance
$0
Property taxes
$170
Home insurance
$105
HOA fees
$0
Utilities
Not included
All calculations are estimates and provided by Zillow, Inc. for informational purposes only. Actual amounts may vary.
HOA fees may include property taxes on listings classified as Co-Ops. Contact the listing agent and/or owner for fee details.
Mortgage interest rates are dependent on a number of factors, including credit score, down payment, and repayment length. Interest rate data provided by Zillow Group Marketplace, Inc. as of 1/1/1970 from various mortgage lenders with which we have lead or other similar arrangements; the Estimated Payment is an average of those rates.
See how much you could borrow to make a competitive offer.