About This Home
This 16-bedroom, 2-bathroom residential multi family at 308 Armory Road in Galax, VA is listed for $900,000 ($92 per sqft). Built in 1988, the home offers 9,792 sqft of living space on a 1.30 acres lot.
Key Features
- Built in 1988
- 1.30 acre lot
Property Details
Amenities
Excellent investment opportunity in a desirable Galax location! This 8-unit complex is comprised of four duplex-style townhomes and offers strong gross rental income with a solid NOI. The property provides additional upside potential, with room for rent growth among several longer-term tenants.
A couple of the units have been recently renovated, providing a great example of the potential for continued improvements throughout the complex. All eight units feature full basements, offering tenants valuable additional space and storage, while two units also include private garages.
The property is conveniently located just a short drive from town, combining easy access to Galax amenities with an attractive residential setting. With established rental history, good current income, and opportunities to increase rents and further improve units over time, this property offers an appealing combination of immediate cash flow and long-term investment potential. A great opportunity to add a substantial multifamily asset to your portfolio!
Monthly Cost Estimate
$4,813/mo
20% down · 6.5% · 30 years
Estimates only. Actual payments may vary.
Location
308 Armory Road
Galax, VA 24333
Property Details
Flooring
Construction
Heating
Cooling
Appliances
Questions & Answers
This 16-bedroom, 2-bathroom residential multi family at 308 Armory Road is listed at $900,000 ($92/sqft). The estimated monthly payment is $4,814 based on 20% down, a 30-year loan at 6.5% interest, estimated insurance.
Key features include: Built in 1988, 1.30 acre lot.
This property is listed by Christopher Fox and can be reached at 2766170189.