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5 5 Euclid Ave Avenue, Bristol, VA 24201 - $2,100,000

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Bedrooms: 0 Full Bathrooms: 0 Half Bathrooms: 0
Type: Multi-Family Sub Type: Multi-Family MLS Number: 9911137
Lot Dimensions: 7.3500 Lot Acreage: 7.35000
Living Area: 0 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, 35 apartments have been renovated with 17 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. 35 of the 52 Units have been renovated...working towards completion of the remaining 17. 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.
Listing Courtesy:
SOUTHFORK REALTY
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