Multi-Family in Marion, VA

Multi-Family for Sale
Sale Pending/Contingent
Catylist Listing ID: 11015366
Property Subtypes: Low-Rise/Garden
Status: Pending/Contingent
Number of Units: 104 Units
Building Size (RSF): 105,952 SF
Gross Land Area: 7.40 Acres
Sale Price: $3,100,000
Unit Price: $29,807.69 Per Unit
Property Use Type: Investment
Building Name: Country Club Crossings
Sale Terms: Cash to Seller, Owner Financing
Cap Rate: Undisclosed
Last Updated: 9/14/2017

Overview / Comments

The Country Club Crossings Apartments consists of eight buildings with 104 one, two and three bedroom units. Originally constructed in the early 1970's under housing authority specifications, this converted complex has been completely remodeled over the last seven years. Updates to roofs, HVACs, parking and room amenities were all undertaken and completed. The complex has its own laundry mat and is currently accepting applications for new tenants.

Financials

Finance Data Year 2015
Real Estate Taxes - Annual($) $25,603 (Annual)
Tax Value Land $111,200
Tax Value Improvements $2,886,900

Additional Details

Nearest MSA: Kingsport-Bristol-Bristol
County: Smyth
Zoning: MULTI-FAMILY
Percent Occupied: 85%
Community Amenities: Community Building, Recreation Room, On-Site Maintenance
Market Type: Rural
Property Located Between: Near Interstate 81
Road Type: Paved, Private
Transportation: Bus, Shuttle, Highway, Airport, Taxi
Highway Access: Interstate 81, near Virginia Exit # 42
Airports: Virginia Highlands (Abingdon)
Site Description: This 7.4 acre site is gently rolling and offers a panoramic view of Mount Rogers, the highest point in the state of Virginia with a summit elevation of 5,729 feet. The property is conveniently located to the downtown Marion business hub and the outlying retail shopping centers. A brand new Mountain States Corp. hospital has been constructed just a few miles from this site. In addition, the Emory & Henry University's School of Occupational Therapy has now opened and located just minutes from this complex.
Area Description: Nestled in the beautiful lower highlands of western Virginia, Smyth County is known for its natural beauty and abundance of outdoor recreational activities. While nature may be calling, take some time to discover the charms of the towns that make this area special. Source: (Smyth County Chamber of Commerce)
Total Number of Buildings: 8
Property Condition: Good
Number of Stories: 2
Year Built: 1972
Year Renovated: 2009
Roof Type: Gable
Construction/Siding: Brick
Exterior Description: Brick siding with gabled shingle roofing.
Parking Type: Surface
Laundry: Shared
Heat Type: Electricity
Heat Source: Heat Pump
Fuel: Electric
Air Conditioning: Package Unit
Internet Access: Cable, Satellite
Interior Description: Tastefully decorated with carpeted living areas and vinyl wet areas (i.e. kitchen and bath).
Zoning Description: Residential - Multi Family
Water Service: Municipal
Sewer Type: Municipal
Easements: Utilities
Land Ownership: Owned
Legal Description: Smyth County Virginia; parcel id # 169-51-3 029751.

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 3,399 9,332 13,041
Median Age: 38.59 42.68 43.1
Households: 1,550 4,016 5,418

Contact

Photograph of Listing Agent

Gregory S Little, MBA

Covenant Commercial Group NETAR CMLS Member
© Copyright Northeast Tennessee Association of REALTORS┬«. All Rights Reserved. The information presented herein is provided as is, without warranty of any kind. Neither Northeast Tennessee Association of REALTORS┬« nor Catylist Real Estate Software, Inc. assume any liability for errors or omissions.