202 Lakeview Park Rd | Colonial Heights, VA 23834
This feature is unavailable at the moment.
We apologize, but the feature you are trying to access is currently unavailable. We are aware of this issue and our team is working hard to resolve the matter.
Please check back in a few minutes. We apologize for the inconvenience.
- LoopNet Team
202 Lakeview Park Rd
Colonial Heights, VA 23834
Terrace View Apartments · Residential Property For Sale · 62 Units
Investment Highlights
- Recession Resistant: Affordable housing is at a huge premium in the Richmond Metro.
- Value-Add Opportunity: Several properties within a mile of Terrace View are achieving sizeable rent premiums up to $400/month for renovated units
- Attractive Debt Options: Seller’s assumable Fannie Mae loans present buyers an opportunity to take on approximately 60% leverage
- Immediate Upside: Recent capital investments by current ownership will make a mark-to-max allowable rents achievable in year one of new ownership
- Investment Optionality: Buyers can execute a conversion to market rate rents in several years or undertake a renovation with tax credit equity
- Proximity to Employment: Terrace View is an easy commute to numerous locations
PROPERTY FACTS
| No. Units | 62 | Lot Size | 5.28 AC |
| Property Type | Residential | Building Size | 60,264 SF |
| Property Subtype | Apartment | Average Occupancy | 95% |
| Apartment Style | Low Rise | Number of Floors | 2 |
| Building Class | B | Year Built | 1998 |
| No. Units | 62 |
| Property Type | Residential |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | B |
| Lot Size | 5.28 AC |
| Building Size | 60,264 SF |
| Average Occupancy | 95% |
| Number of Floors | 2 |
| Year Built | 1998 |
Unit Amenities
- Air Conditioning
- Washer/Dryer Hookup
- Heating
- Kitchen
- Views
- Wheelchair Accessible (Rooms)
Site Amenities
- Clubhouse
- Laundry Facilities
- Laundry Service
Unit Mix Information
| Description | No. Units | Avg. Rent.Mo | SF |
|---|---|---|---|
| 1+1 | 10 | - | 780 |
| 2+2 | 42 | - | 1,080 |
| 3+2 | 10 | - | 1,364 |
PROPERTY TAXES
| Parcel Number | 1400-01-00-001 | Improvements Assessment | £4,628,823 |
| Land Assessment | £601,285 | Total Assessment | £5,230,108 |
PROPERTY TAXES
Parcel Number
1400-01-00-001
Land Assessment
£601,285
Improvements Assessment
£4,628,823
Total Assessment
£5,230,108
zoning
| Zoning Code | R4 |
| R4 |
1 of 1
VIDEOS
3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
