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
Contract Information
Current Price: $1,320,000
Sold Price: $1,320,000
List Date: 2021-03-30
Status: Closed
General Property Description
Multi-Family Type: Apartments
Construction Status: Completed
Year Built: 1985
Present Use: Built-As
Number of Units: 17
# Leased Units: 17
Total Acreage: 7.23
Basement Y/N: Yes
Parking Description: Private (10 or More)
Operating Expense: 28407
Net Operating Income: 112757
Gross Income: 145000
Water Class: N/A
Location Legal Taxes
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
Status Change Info
Ratified Contract Dt: 2021-04-12
Sold Date: 2021-06-28
Sold Price: $1,320,000
Expenses
Tax Exp: 4759
Water Exp: 4649
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
All searches are performed on live data on the MLS server. Although the Multiple Listing Service of The Roanoke Valley is the single source for these listings, listing data appearing on this website does not necessarily reflect the entirety of all available listings within the Multiple Listing Service. All listing data is refreshed daily, but its accuracy is subject to market changes. All copyrights and intellectual property rights are the exclusive property of the Multiple Listing Service of The Roanoke Valley. Whether obtained from a search result or otherwise, visitors to this website may only use this listing data for their personal, non-commercial benefit. The unauthorized retrieval or use of this listing data is prohibited.
