Multifamily

Park Station Villas

400 N Commerce Ave, Waynesboro, VA 22980

Listing Price: $2,165,000

Cap Rate
8.00%
Number of Units
39
Price/Unit
$55,513
Price/Gross SF
$114.13
Gross SF
18,970

Investment Overview

The Marcus & Millichap Mid-Atlantic Multifamily Advisory Group is pleased to present the pricing and financial analysis for the Park Station Villas located in Waynesboro, VA. The property consists thirty-nine units in two two-story building constructed in 1941. There are 6 studio units, 21 one-bed one-bath units, 8 two-bed one-bath units, 3 three-bed one-bath units, and 1 townhouse unit. The tenants pay their electricity utility and the owner covers the water, sewer, and trash utilities. The property’s central location affords residents easy access to the top employers in the area. Waynesboro is a small town in the Shenandoah Valley providing residents a good mix of town and country without the craziness of the city. Harrisonburg, Charlottesville, and Lynchburg are all within one hour from Waynesboro.

Investment Highlights

  • Transit Oriented; Easy access to I-64, I-81, and Route 250
  • Value-Add Opportunity; Prime candidate for apartment interior renovations
  • Ideal Demographic for Multifamily Demand; High affordability gap increased the rent-by-necessity demographic

Exclusively Listed By

Listing Price: $2,165,000

Cap Rate
8.00%
Number of Units
39
Price/Unit
$55,513
Price/Gross SF
$114.13
Gross SF
18,970

Investment Highlights

  • Transit Oriented; Easy access to I-64, I-81, and Route 250
  • Value-Add Opportunity; Prime candidate for apartment interior renovations
  • Ideal Demographic for Multifamily Demand; High affordability gap increased the rent-by-necessity demographic

Investment Overview

The Marcus & Millichap Mid-Atlantic Multifamily Advisory Group is pleased to present the pricing and financial analysis for the Park Station Villas located in Waynesboro, VA. The property consists thirty-nine units in two two-story building constructed in 1941. There are 6 studio units, 21 one-bed one-bath units, 8 two-bed one-bath units, 3 three-bed one-bath units, and 1 townhouse unit. The tenants pay their electricity utility and the owner covers the water, sewer, and trash utilities. The property’s central location affords residents easy access to the top employers in the area. Waynesboro is a small town in the Shenandoah Valley providing residents a good mix of town and country without the craziness of the city. Harrisonburg, Charlottesville, and Lynchburg are all within one hour from Waynesboro.

Exclusively Listed By

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