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+15403202770
RE/MAX 8
108 Kitten Ln, Rural Retreat, VA 24368
- $650,000
- 16
- BD
- 4
- BA
- 10,000
- SqFt
- List Price
- $650,000
- Status
- ACTIVE
- MLS#
- 109883
- Subtype
- Residential Income
- Year Built
- 1970
- Bedrooms
- 16
- Bathrooms
- 4
- Living Area
- 10,000
- Lot Size
- 160,300
- Acres
- 3.68
- MLS Area Major
- Rural Retreat
Property Description
Excellent investment opportunity with strong existing cash flow and room to grow. This 3.86-acre multi-family property features a total of 7 income-producing units plus 2 additional tenant-owned mobile homes providing lot rent income. The property includes two duplexes totaling four 2-bedroom, 1-bath units, along with three mobile homes consisting of two 3-bedroom, 2-bath units and one 2-bedroom, 1-bath unit. All units are individually metered with public water and sewer already in place, making management efficient and straightforward. Current gross annual income is approximately $73,800 with an NOI of approximately $66,105. Situated directly on Route 11, the location offers excellent accessibility, just 3 minutes from Exit 60 off Interstate 81 and only 10 minutes from Wytheville. The expansive acreage provides a tremendous opportunity for future development or expansion, with plenty of additional space for more units or improvements. Whether you're looking to expand your portfolio with a stabilized income-producing asset or seeking a property with long-term development potential, this versatile multi-family package offers both immediate returns and future upside.
Additional Information
- Taxes
- $2,467
- Zoning
- R
- Flooring
- Laminate, Vinyl
- Appliances
- Range, Refrigerator
- Heating
- Heat Pump
- Air Conditioning
- Central Air
- Roof
- Shingle
- Parking Features
- Gravel
- Elementary School
- Rural Retreat
- Middle School
- Rural Retreat
- High School
- Rural Retreat
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Listing courtesy of BHHS- Mountain Sky Properties, Wytheville.