Property Description

Fully-Occupied 5-Unit Apartment Building with 12% cap rate located in Historic Petersburg. - This property is sold individually or as part of a 10.5% Cap Rate Portfolio of 53 Properties located in Downtown Petersburg area and including 12 multi-family, 37 single-family, 2 commercial and 2 vacant lots at Va. State University, Fort Lee military base, multiple industrial companies, such as tobacco companies, Walmart distribution and Amazon.com in neighboring Dinwiddie County provide a stable and growing tenant base and opportunity to increase rents with improved market conditions, increased rental population and investment in property shell, systems, new kitchens, baths and miscellaneous upgrades. Petersburg is located on the Interstate 95 corridor is experiencing rapid population growth and development. With existing Amtrak daily northeast regional connection and the planned east coast light-rail system Petersburg is more accessible and an affordable option. sold 'as is'