NOT LISTED FOR SALE

137 Riley Dr Chilhowie, VA 24319

24 Beds
2 Baths
10,464 Sq Ft
1.03 Acres

Last Sold September 01, 2022

Last sale price $515,000 $49 Per Sq Ft

5 Days on Market

Highlights

  • Lake View
  • Central Heating and Cooling System
  • Carpet
  • Chilhowie Elementary School Rated 9+

About This Home

As of September 2022

Investment Opportunity! Twelve fully rented units just outside of the Town of Chilhowie. These units consists of two, six unit buildings. One unit is located at 137 Riley Dr. and the other is located at 302 Apple Valley Road. These units are each 2 bedrooms and 1.5 bathrooms. They have been well maintained and feature newer metal roofs and some updated heat pumps. The rents are currently at $375 per month but have not seen a substantial increase in many years. Tenants pay for their own utilities.

Last Agent to Sell the Property

Bryan Godwin

Godwin Realty LLC License #0225214082 Listed on: 05/06/2022

Last Buyer's Agent

Non Member Non Member

Non Member Office

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $3,352

Year Built

  • Built in 1991

Lot Details

  • 1.03 Acre Lot
  • No Landscaping
  • Property is in good condition

Home Design

  • Brick Exterior Construction
  • Fire Rated Drywall
  • Metal Roof
  • Vinyl Siding
  • Stone Veneer

Interior Spaces

  • 10,464 Sq Ft Home
  • Insulated Windows
  • Carpet
  • Lake Views
  • Crawl Space
  • Laundry on main level

Kitchen

  • Oven or Range
  • Stove

Bedrooms and Bathrooms

  • 24 Bedrooms
  • 2 Bathrooms

Schools

  • Chilhowie Elementary And Middle School
  • Chilhowie High School

Utilities

  • Central Heating and Cooling System
  • Heat Pump System
  • Separate Meters
  • Natural Gas Not Available
  • Electric Water Heater

Listing and Financial Details

  • Total Actual Rent $375

Community Details

Overview

  • 12 Units

Building Details

  • Insurance Expense $1,600
  • Gross Income $54,000
  • Net Operating Income $49,048

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$3,352

Year Built

Built in 1991

Lot Details

0

Listing Details

  • Property Sub Type: Apartment
  • Prop. Type: Residential Income
  • Lot Size Acres: 1.03
  • Road Surface Type: Paved
  • Directions: From I-81 N take exit 35. Turn left onto Whitetop Road. Turn right onto Lee Highway. Turn left onto Apple Valley Road. Turn left onto Riley Dr. The unit is the unit in the middle.
  • Above Grade Finished Sq Ft: 10464
  • Structure Type: Side by Side, Two Buildings
  • Year Built: 1991
  • Special Features: None

Interior Features

  • Appliances: Range/Oven, Refrigerator, Electric Water Heater, 2 Bdrm-Stove, 2 Bdrm-Refrigerator
  • Has Basement: Crawl Space
  • Total Bedrooms: 24
  • Fireplace Features: None
  • Flooring: Carpet
  • Living Area: 10464
  • Window Features: Insulated Windows

Exterior Features

  • Lot Features: No Landscaping
  • View: Lake
  • View: Yes
  • Waterfront Features: None
  • Waterfront: No
  • Construction Type: Brick, Vinyl Siding, Stone Veneer, Dry Wall
  • Property Condition: Exterior Condition: Good, Interior Condition: Good
  • Roof: Metal

Utilities

  • Laundry Features: Main Level
  • Cooling: Central Air, 2 Bdrm-Central A/C
  • Cooling Y N: Yes
  • Heating: Central, Heat Pump
  • Heating Yn: Yes
  • Electric: Separate Meters
  • Sewer: Public Sewer
  • Utilities: Natural Gas Not Available
  • Water Source: Public

Schools

  • Elementary School: Chilhowie
  • High School: Chilhowie
  • Middle Or Junior School: Chilhowie

Lot Info

  • Lot Size Sq Ft: 44866.8
  • Zoning: R
  • Irrigation Water Rights: No
  • ResoLotSizeUnits: Acres

Multi Family

  • Number Of Units Total: 12
  • Annual Gross Income: 54000
  • Insurance Expense: 1600
  • Property Net Operating Income: 49048
  • Number Of Units Leased: 12
  • Total Actual Rent: 375
  • Above Grade Finished Area Units: Square Feet

Tax Info

  • Tax Annual Amount: 3352.2
  • Tax Lot: 0
  • Tax Map Number: 54A-6-10B
  • Tax Year: 2021

Range of Values:

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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price Change Sq Ft Price
09/01/2022 09/01/22 Sold $515,000 -6.3% $49 / Sq Ft
05/12/2022 05/12/22 Pending -- -- --
05/06/2022 05/06/22 For Sale $549,900 -- $53 / Sq Ft
Source: Southwest Virginia Association of REALTORS®

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Bryan Godwin

    Seller's Agent in 2022

    Bryan Godwin

    Godwin Realty LLC

    (276) 685-1147

    13 in this area

    58 Total Sales

    Bryan Godwin
    Section Image

  • N

    Buyer's Agent in 2022

    Non Member Non Member

    Non Member Office

See All Agents

Map

Source: Southwest Virginia Association of REALTORS®

MLS Number: 82579

APN: 54A-6-10B

Virginia Smyth County Chilhowie 24319

137 Riley Dr, Chilhowie, VA

This home is located at 137 Riley Dr, Chilhowie, VA 24319 since 06 May 2022. This property was built in 1991. 137 Riley Dr is a home located in Smyth County with nearby schools including Chilhowie Elementary School, Chilhowie Middle School, and Chilhowie High School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

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