32 Sweet Magnolia Ln, Rockingham, VA 22802 • $1,800,000
MLS# 596193 • Under Contract
|Circa: ||2009 (12 years old)|
|Lot Size: ||1.51 acres|
|Days on Market: ||463 (since Oct 20, 2019)|
|Listing By: ||Funkhouser Real Estate Group|
Strong multi-family or commercial investment opportunity conveniently located just north of Harrisonburg right off I-81. 32 unit multi-family property consisting of 30 one-bedroom efficiency apartments, 1 three-bedroom unit, and 1 oversized one-bedroom unit. Gross income over $210K annually. Strong rental history with low vacancy rates, and many long-term tenants. Currently fully leased on a weekly or monthly basis. Tenants could be converted to annual lease to make property management more convenient.