284 Farmers Mountain Rd Gretna, VA 24557
Estimated payment $2,139/month
Highlights
- No HOA
- Gretna Elementary School Rated A-
- Baseboard Heating
About This Home
This single-level apartment building comprises 12 units, offering a blend of rental stability and potential for growth. Currently, 8 units are rented. Additionally, 2 units are vacant and renovated, promising future rental income without immediate renovation costs. The remaining 2 vacant units need renovation, presenting an opportunity to increase the building's value. Each apartment features an open layout between the kitchen and living area, creating a spacious feeling that appeal to tenants. This apartment building represents a great investment opportunity, combining immediate rental income, potential for increased returns, and the chance to add value through renovations. With the right vision, this property could become a cornerstone of a successful real estate portfolio.
Listing Agent
REAL BROKER LLC - MCLEAN License #0225244158 Listed on: 02/25/2025
Property Details
Home Type
- Apartment
Est. Annual Taxes
- $1,042
Year Built
- Built in 1993
Lot Details
- 0.91 Acre Lot
Parking
- 12 Parking Spaces
Home Design
- 4,800 Sq Ft Home
- Brick Exterior Construction
- Slab Foundation
Schools
- Gretna Elementary School
- Gretna Middle School
- Gretna High School
Utilities
- Window Unit Cooling System
- Baseboard Heating
- Electric Water Heater
Listing and Financial Details
- Tax Lot 9 & 10
Community Details
Overview
- No Home Owners Association
- 12 Units
Building Details
- 8 Leased Units
- Operating Expense $13,939
- Gross Income $35,600
- Net Operating Income $21,661
Map
Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 07/30/2025 07/30/25 | Price Changed | $374,900 | -6.0% | $78 / Sq Ft |
| 07/13/2025 07/13/25 | Price Changed | $399,000 | -6.1% | $83 / Sq Ft |
| 06/18/2025 06/18/25 | Price Changed | $425,000 | -14.8% | $89 / Sq Ft |
| 06/05/2025 06/05/25 | Price Changed | $499,000 | -2.2% | $104 / Sq Ft |
| 02/25/2025 02/25/25 | For Sale | $509,999 | -- | $106 / Sq Ft |
Source: Roanoke Valley Association of REALTORS®
MLS Number: 914601
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.
IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.
- 70 AC Highway 29
- 74.04 AC Highway 29
- 0000 W Gretna Rd
- 801 Henry St
- 0 W Gretna Rd
- 603 Leftwich St
- 202 Dalton St
- 507 Henry St
- 503 Henry St
- 404 Henry St
- 105 N Franklin Blvd
- 302 Henry St
- 400 Franklin Blvd
- 209 Huffmond St
- 206 Huffmond St
- 1100 Music St S
- 0-6 Music St S
- 0-3 Music St S
- 1.84 Ac Music St S
- 0 Music St S
- 315 S Main St
- 1003 Broad St
- 104 Juniper Ln
- 1684 Dudley Amos Rd
- 3020 R and L Smith Dr Unit 4
- 200 Village Springs Dr
- 1087 Hibiscus Rd
- 100 Northpointe Ln
- 77 Allure Dr
- 223 Parkland Dr
- 340 E Franklin Turnpike
- 195 Hamlin Ave
- 128 Northwest Blvd
- 516 3rd St
- 1404 Washington St
- 1483 Hupps Hill Ln
- 41 Point Dr
- 2101 Hardy Rd Unit C
- 818 Noble Ave
- 18442 Leesville Rd