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
General Property Description
Multi-Family Type: Apartments
Construction Status: Completed
Total Acreage: 7.23
Present Use: Built-As
# Furnished: 0
# Unfurnished: 0
# Leased Units: 17
Gross Bldg SQFT: 0
Basement Y/N: Yes
Water Class: N/A
Parking Description: Private (10 or More)
Gross Income: 145000
Year Built: 1985
Number of Units: 17
Operating Expense: 28407
Net Operating Income: 112757
Location, Tax & Legal
Major Area: 06 - Bedford County
Phase: 0
Lot: 28
Block: 0
Tax ID: 90510132
Annual Taxes: 4758
Section: 2
POA Y/N: No
POA/Condo Dues: 0
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
Remarks & Misc
Directions: St. Route 811 (Thomas Jefferson Road) to Right on Great Oak, Right on Willow Oak, Left on River Oak.
Limited Service
Not Limited Service: 1
Construction
Wood: 1
Basement
Partial: 1
Views
Mountain(s): 1
Sunset: 1
Heating
Heat Pump Electric: 1
Cooling
Heat Pump Electric: 1
Water Description
Public: 1
Sewer Description
Private Septic: 1
Water Heater Type
Tank: 1
Water Heater Energy
Electric: 1
Lease Type
One Year: 1
Owner Expenses
Lawn Care: 1
Trash Disposal: 1
Water: 1
Interior Features
Ceiling Fan(s): 1
Skylight: 1
Internet Access
Cable: 1
Tenant Expenses
Cable TV: 1
Electricity: 1
Heating: 1
Expenses
Tax Exp: 4759
Water Exp: 4649
Slr Pd Fin Concessns
No: 1
Contract Information
Current Price: $1,320,000
Sold Price: $1,320,000
List Date: 2021-03-30
Status: Closed
Status Change Info
Ratified Contract Dt: 2021-04-12
Sold Date: 2021-06-28
Sold Price: $1,320,000
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.