911 Palace CT, Martinsville, VA 24112 (MLS# 900555)

$550,000

911 Palace CT
Martinsville, VA 24112
MLS# 900555

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Property Description
***GREAT INVESTOR OPPORTUNITY*** This multifamily consists of 8 units - all except one is currently rented. Property has been professionally managed and is a newer build! This 8-Unit comes with plenty of parking and at the end of a cul-de-sac. Units are a mix of 2Bd/1Ba and 3Bd/1Ba. Each unit has it's own washer/dryer hookups.

Details

Contract Information

Current Price: $550,000

Sold Price: $550,000

List Date: 2023-08-08

Status: Closed

General Property Description

Multi-Family Type: Apartments

Construction Status: Completed

Year Built: 1991

Present Use: Built-As

Number of Units: 8

# Unfurnished: 8

# Leased Units: 7

Gross Bldg SQFT: 4762

Total Acreage: 0.77

Basement Y/N: Yes

Basement: Partial Basement

Parking Description: Private (1 - 9)

Operating Expense: 8536.51

Net Operating Income: 52333.49

Gross Income: 60870

Water Class: N/A

Location, Legal & Taxes

Major Area: 13 - City of Martinsville

Area: 1300 - City of Martinsville

Street Number: 911

Street Name: Palace

Street Suffix: CT

State/Province: VA

Zip Code: 24112

Subdivision: N/A

Lot: 34

Municipality: City of Martinsville

Tax ID: 07080034

Annual Taxes: 1538.81

POA Y/N: No

Elementary School: Other - See Remarks

Middle School: Other - See Remarks

High School: Other - See Remarks

Remarks & Misc

Directions: Liberty St to Clearview Dr to Left on Royal Dr to Left on Palace Ct. Property is on the Left

Status Change Info

Ratified Contract Dt: 2024-02-09

Sold Date: 2024-04-12

Sold Price: $550,000

Expenses

Tax Exp: 1538.81

Insurance Exp: 2199.5

Water Exp: 4798.2

Property Features

Limited Service: Not Limited Service

Construction: Brick; Vinyl

Heating: Heat Pump Electric

Cooling: Central Cooling

Water Description: Public Water

Sewer Description: Public Sewer

Lease Type: One Year; Month-to-Month

Owner Expenses: Lawn Care; Water

Tenant Expenses: Electricity

Listing Office: MOUNTAIN VIEW REAL ESTATE LLC

Last Updated: April - 19 - 2024

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