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    5 5 Euclid Ave Avenue

    Bristol, VA 24201
    • $2,100,000
    • STATUS: Active
    • ON SITE: 57 days
    • MLS #: 9911137
    UPDATED: 65 min ago
    $2,100,000
    • 0
      BEDS
    • 7.35
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Type:
    Multi-Family
    Built:
    1939
    County:
    Area:

    School Information

    Elementary School:
    Middle School:
    High School:

    Description

    Lee Garden Apartments in Bristol, Virginia is now Available For Sale. This community is located on 7.35 beautiful acres with six stately brick buildings housing 52 Apartment Units. This prime location overlooks the twin cities of Bristol, VA & TN...the only city in the USA whose downtown is split exactly down the middle between two states. Tenants have quick access to a bustling downtown area. Mouth-watering restaurants and ample things to see and do make BRISTOL a good place to live. The community is enjoying a stable occupancy and immediate activity when the units become available. In the past 36 months, 40 apartments have been renovated with 12 remaining to finish. The current owner has turned over the rent roll, eliminating unfavorable tenants, and stabilizing at market rents. Competitive Unit mix of 1, 2, and 3 Bedrooms. Landlord pays for the Water, Sewer, & Trash Pick-Up. Tenants pay for their own Electric, Gas, Phone, Internet, TV Cable. Make this smart investment in 2020. Coin-Operated Launderettes in three Buildings-Lower Levels. Separate Electric & Natural Gas Meters. Tenant Mailboxes are in a Common Area as you come up the driveway. Good Walkability on the grounds. Tenant Parking is numbered and there is Guest Parking available. Handicap Parking is marked and nearest to the building entrances. Tenants may rent a Storage Cage in the Lower Level of their building. 40 of the 52 Units have been renovated...working towards completion of the remaining 12. 24- Hour Maintenance Service. PVC Flat Roof systems on all 6 Buildings. Professional Leasing Office on-site. Each unit has its own forced-air gas furnace, water heater, & central air. Check out the potential for future development on the surrounding vacant land that is included in this sale. Schedule a tour to learn more...see how this investment will work hard for you. Note: Units not rented are undergoing renovations prior to tenants moving in.

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    © 2020 Tennessee/Virginia Regional Multiple Listing Service. All rights reserved. IDX information is provided exclusively 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 is deemed reliable but is not guaranteed accurate by the MLS. Data last updated: 2020-09-27T13:59:58.2.
    www.conservusrealestategroup.com/homes/108431147
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    5 5 Euclid Ave Avenue Bristol, VA 24201

    • Price: $2,100,000
    • Status: Active
    • Updated: 65 min ago
    • MLS #: 9911137
    0
    Beds
    0
    Baths
    0
    ½ Baths
    7.35
    Acres
    1939
    Built
    County:
    Out Of Area
    Area:
    Out Of Area
    Elementary School:
    Washington Lee Elementary
    Middle School:
    Virginia
    High School:
    Virginia
    Property Description
    Lee Garden Apartments in Bristol, Virginia is now Available For Sale. This community is located on 7.35 beautiful acres with six stately brick buildings housing 52 Apartment Units. This prime location overlooks the twin cities of Bristol, VA & TN...the only city in the USA whose downtown is split exactly down the middle between two states. Tenants have quick access to a bustling downtown area. Mouth-watering restaurants and ample things to see and do make BRISTOL a good place to live. The community is enjoying a stable occupancy and immediate activity when the units become available. In the past 36 months, 40 apartments have been renovated with 12 remaining to finish. The current owner has turned over the rent roll, eliminating unfavorable tenants, and stabilizing at market rents. Competitive Unit mix of 1, 2, and 3 Bedrooms. Landlord pays for the Water, Sewer, & Trash Pick-Up. Tenants pay for their own Electric, Gas, Phone, Internet, TV Cable. Make this smart investment in 2020. Coin-Operated Launderettes in three Buildings-Lower Levels. Separate Electric & Natural Gas Meters. Tenant Mailboxes are in a Common Area as you come up the driveway. Good Walkability on the grounds. Tenant Parking is numbered and there is Guest Parking available. Handicap Parking is marked and nearest to the building entrances. Tenants may rent a Storage Cage in the Lower Level of their building. 40 of the 52 Units have been renovated...working towards completion of the remaining 12. 24- Hour Maintenance Service. PVC Flat Roof systems on all 6 Buildings. Professional Leasing Office on-site. Each unit has its own forced-air gas furnace, water heater, & central air. Check out the potential for future development on the surrounding vacant land that is included in this sale. Schedule a tour to learn more...see how this investment will work hard for you. Note: Units not rented are undergoing renovations prior to tenants moving in.
    Exterior Features

    Exterior Finish Brick Lot Dimensions 7.3500 Parking Features AsphaltParking Spaces Style 2 Story Topography Lot Description Sloped Walls Drywall

    Interior Features

    Ac Central Air Appliances RangeRefrigerator Flooring Tile Heating Forced AirNatural Gas

    Property Features

    Auction No Building1 Number Units 8 Building2 Number Units 10 Building3 Number Units 10 Building4 Number Units 8 City Taxes 16700.00 County Taxes 0.00 Easements See Remarks Foreclosure No Income And Expenses Gross Annual Income 32615100 Income And Expenses Net Annual Income 11895900 Lot Number 12345 & 6 Property Sub Type Multi-Family Short Sale No Water Public Zoning B-3 & R-3

    Listing information © 2020 Tennessee/Virginia Regional MLS.
    Listing provided courtesy of Kathy Gentry of Southfork Realty.



    © 2020 Tennessee/Virginia Regional Multiple Listing Service. All rights reserved. IDX information is provided exclusively 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 is deemed reliable but is not guaranteed accurate by the MLS. Data last updated: 2020-09-27T13:59:58.2.
     
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    Conservus Real Estate Group
    402 East Main Street
    Kingsport TN, 37660