1068 River Oak DR, Forest, VA 24551
$1,320,000
Property Type:
MultiFamily
Lot Size (sq. ft.):
314,939
Status:
Closed
Current Price:
$1,320,000
List Date:
3/30/2021
Last Modified:
9/25/2024
Description
Do you want to own rental property in Forest in nice condition that is easy to maintain and rent, then Willow Oak Village is for YOU! A unique property consisting of 17 two bedroom, one bath units. It made up of 5 single family homes, a 3 plex, a 9 plex on 7 acres and views of the Peaks of Otter. Major work completed including metal roofs on all buildings and new asphalt parking lot and driveway. This property was a church camp at one time and has a rustic feel but modern amenities. Owner pays for lawn maintenance, county water and trash pickup. Tenants pay their own electric and each has a heat pump. Each unit has washer/dryer hookups. Many Units have newer Kitchens & vinyl plank flooring. Forest Schools. Includes a 48 X 24 Garage under the 9 plex used as a shop or storage.
Supplements: All units are on one Deed and can not be separated. All units occupied under annual leases. No dogs on property, but tenants are allowed 1 cat. Could possibly build additional units on the existing property.
More Information MLS# 878232
General Property Description
Multi-Family Type: Apartments
Construction Status: Completed
Total Acreage: 7.23
Present Use: Built-As
# Furnished: 0
# Unfurnished: 0
# Leased Units: 17
Gross Bldg SQFT: 0
Basement Y/N: Yes
Water Class: N/A
Parking Description: Private (10 or More)
Gross Income: 145000
Year Built: 1985
Number of Units: 17
Operating Expense: 28407
Net Operating Income: 112757
Location, Tax & Legal
Major Area: 06 - Bedford County
Phase: 0
Lot: 28
Block: 0
Tax ID: 90510132
Annual Taxes: 4758
Section: 2
POA Y/N: No
POA/Condo Dues: 0
Area: 0600 - Bedford County
Street Number: 1068
Street Name: River Oak
Street Suffix: DR
State/Province: VA
Zip Code: 24551
Subdivision: NA
Municipality: Bedford County
Elementary School: New London Academy
Middle School: Forest Middle
High School: Jefferson Forest
Remarks & Misc
Directions: St. Route 811 (Thomas Jefferson Road) to Right on Great Oak, Right on Willow Oak, Left on River Oak.
Limited Service
Not Limited Service: 1
Construction
Wood: 1
Basement
Partial: 1
Views
Mountain(s): 1
Sunset: 1
Heating
Heat Pump Electric: 1
Cooling
Heat Pump Electric: 1
Water Description
Public: 1
Sewer Description
Private Septic: 1
Water Heater Type
Tank: 1
Water Heater Energy
Electric: 1
Lease Type
One Year: 1
Owner Expenses
Lawn Care: 1
Trash Disposal: 1
Water: 1
Interior Features
Ceiling Fan(s): 1
Skylight: 1
Internet Access
Cable: 1
Tenant Expenses
Cable TV: 1
Electricity: 1
Heating: 1
Expenses
Tax Exp: 4759
Water Exp: 4649
Slr Pd Fin Concessns
No: 1
Contract Information
Current Price: $1,320,000
Sold Price: $1,320,000
List Date: 2021-03-30
Status: Closed
Status Change Info
Ratified Contract Dt: 2021-04-12
Sold Date: 2021-06-28
Sold Price: $1,320,000
Property Features
Limited Service: Not Limited Service
Construction: Wood
Basement: Partial
Heating: Heat Pump Electric
Cooling: Heat Pump Electric
Water Description: Public
Sewer Description: Private Septic
Water Heater Type: Tank
Water Heater Energy: Electric
Lease Type: One Year
Owner Expenses: Lawn Care; Trash Disposal; Water
Interior Features: Ceiling Fan(s); Skylight
Internet Access: Cable
Views: Mountain(s); Sunset
Tenant Expenses: Cable TV; Electricity; Heating
Slr Pd Fin Concessns: No
Listing Office:
LONG & FOSTER - FOREST
Last Updated: September - 25 - 2024
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