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1121 Stainback Street

Petersburg, VA 23803
  • $3,570,000
  • STATUS: Active
  • ON SITE: 43 Days
  • MLS #: 2218800
UPDATED: 35 min ago
$3,570,000
  • 0
    BEDS
  • 1.34
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Commercial
Built:
1966
County:

School Ratings & Info

Description

The property consists of 34 two-bedroom garden style apartments situated on 2 acres of land which contains 50 parking spaces. The building was gutted and renovated in 2021 and is now in lease up. The kitchens and bathroom were renovated with new appliances, fixtures, cabinets, countertops and flooring. The sheetrock is new as is the lighting. The roofs are brand new. The units are all 2 bedrooms, 1 bath and are approximately 800 square feet of size. The monthly average of $895 for rent is on the low side of the market, giving the buyer a chance to increase the rents substantially upon renewal. Stainback Street Apartments is a solid low-maintenance non-capital intensive investment for a buyer focused on rental growth, management efficiencies, and solid cash flow.

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Central Virginia Regional MLS logo All or a portion of the multiple Listing information is provided by the Central Virginia Regional Multiple Listing Service, LLC, from a copyrighted compilation of Listings. All CVR MLS information provided is deemed reliable but is not guaranteed accurate. The compilation of Listings and each individual Listing are © 2022 Central Virginia Regional Multiple Listing Service, LLC. All rights reserved.The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data last updated: 2022-08-18T14:57:13.303.
www.blakeandalipooreteam.com/homes/130558580
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1121 Stainback Street Petersburg, VA 23803

  • Price: $3,570,000
  • Status: Active
  • On Site: 43 Days
  • Updated: 35 min ago
  • MLS #: 2218800
0
Beds
0
Baths
0
½ Baths
1.34
Acres
1966
Built
Neighborhood:
57 - Petersburg
County:
Petersburg
Area:
57 - Petersburg
Property Description
The property consists of 34 two-bedroom garden style apartments situated on 2 acres of land which contains 50 parking spaces. The building was gutted and renovated in 2021 and is now in lease up. The kitchens and bathroom were renovated with new appliances, fixtures, cabinets, countertops and flooring. The sheetrock is new as is the lighting. The roofs are brand new. The units are all 2 bedrooms, 1 bath and are approximately 800 square feet of size. The monthly average of $895 for rent is on the low side of the market, giving the buyer a chance to increase the rents substantially upon renewal. Stainback Street Apartments is a solid low-maintenance non-capital intensive investment for a buyer focused on rental growth, management efficiencies, and solid cash flow.
Exterior Features

Construction Materials Brick Levels Two Road Frontage Type City Street Roof CompositionShingle Topography LevelRolling

Interior Features

Basement YN No Building Area Total 33364 Cooling Central Air Cooling YN Yes

Property Features

Property Condition Very Good Condition Sewer Public Sewer Tax Lot 70 Water Source Public Zoning Description R-3

Central Virginia Regional MLS logo Listing provided by One South Realty Group, Llc: 804-353-0009. Listing information © 2022 CVRMLS and CBRAR.


Central Virginia Regional MLS logo All or a portion of the multiple Listing information is provided by the Central Virginia Regional Multiple Listing Service, LLC, from a copyrighted compilation of Listings. All CVR MLS information provided is deemed reliable but is not guaranteed accurate. The compilation of Listings and each individual Listing are © 2022 Central Virginia Regional Multiple Listing Service, LLC. All rights reserved.The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data last updated: 2022-08-18T14:57:13.303.
 
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