9 Rental Units in Ivy, VA

Multi-Family for Sale
Sale Pending/Contingent
Catylist Listing ID: 30778638
Status: Pending/Contingent
Number of Units: 9 Units
Building Size (RSF): 4,043 SF
Gross Land Area: 1.49 Acres
Sale Price: $1,250,000
Unit Price: $138,888.89 Per Unit
Property Use Type: Investment
Building Name: Lochallen Apartments
Usable Size (USF): 4,043 SF
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Average Occupancy Rate: 100
Last Updated: 1/7/2022

Overview / Comments

Don't miss this 9 unit rental property located on 1.49 acres in Ivy, Virginia. Quiet park like setting, plenty of paved parking and fully rented. Close to Charlottesville and UVA and only 5 minute drive to shopping, restaurants, laundry and the quaint Village of Crozet, Excellent Schools in the Western Albemarle District. The units consist of Four-2 Bedroom apartments and 5 spacious Efficiencies. Some units have Masonry Wood burning fireplaces and Wood floors, Units are service by Electric service with separate meters and water and sewer with ACSA. The apartments have Cable TV and Internet available. Trash is included and pets are allowed. Your tenants will love the gorgeous countryside, the Blue Ridge Mountains nearby and the easy drive to the Nelson County Vineyards, Breweries and the Wintergreen Ski Resort. No onsite visits allowed without an appointment. Fully rented and an excellent Investment return.

Additional Details

Nearest MSA: Charlottesville
County: Albemarle
Taxing Authority: Albemarle County
Tax ID/APN: 05800-00-00-006B0 and 006C0
Zoning: RURAL AREA
Percent Occupied: 100%
Property Located Between: Charlottesville,VA and Crozet, VA
Highway Access: US Highway Rt. 250 East/Ivy Road
Airports: CHO- Charlottesville Albemarle
Site Description: Country Park like setting, level lot with two parcels and two structurs, paved parking and quiet convenient location
Area Description: Western Albemarle area, only 5 minutes to Crozet and easy drive to Charlottesville
Total Number of Buildings: 2
Property Condition: Average
Number of Stories: 15
Year Built: 1969
Roof Type: Other
Construction/Siding: Wood Frame
Exterior Description: Hardboard clapboard siding wood trim, Cape cod style with dormers
Parking Type: Surface
Parking Description: Two paved parking areas one for each building, each with its own driveways off of a public road, total of 16 spaces
Total Parking Spaces: 16
Heat Type: Electricity
Heat Source: Baseboard, Heat Pump
Fuel: Electric
Air Conditioning: Evaporative Cooler, Window Unit
Internet Access: Cable
Interior Description: 9 Apartments, which are Four - 2 bedroom units and Five Efficiencies. Some have fireplaces and wood floors, wood cabinets, some have patios.
Zoning Description: Rural Area zoning
Water Service: Municipal
Sewer Type: Septic
Land Ownership: Fee Simple
Legal Description: Lochallen Apartments, refer to County tax map parcel ID # 05800-00-00-006B0 and #05800-00-00-006C0. Also can use Deed Book 4822/524 and 687/683.

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 1,474 4,275 16,711
Median Age: 45.73 46.13 44.92
Households: 573 1,610 6,512

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