$179,900
UNDER CONTRACT

4 Units Thomason Ln Galax, VA 24333

Estimated payment $1,093/month

Total Views 12,326
8 Beds
6 Baths
1,102 Sq Ft
$163 Price per Sq Ft

Highlights

  • Creek or Stream View
  • Storm Windows
  • Central Heating and Cooling System
  • Newly Painted Property
  • Tile Flooring
  • Ceiling Fan

About This Home

Multiple Unit Investment Property! 3 Mobile Homes (all conveying), 1 Brick Cottage, 1 Vacant Cabin, and space to add up to 2 more mobile homes with utility hookups available. This property has a monthly gross cash flow of $2,340 with the potential to be increased. $990 of the monthly income is paid automatically through HUD, the remainder is paid in cash. Perfect for IRA investors, this property is being offered at a 12.6% return on investment. Unit 1 is 2 bed 2 bath and features a new metal roof, lvp flooring, heat pump, and updated bathrooms. Unit 2 is a 2 bed 1 bath with a central electric heat. Unit 3 is a 2 bed 1 bath with central electric heat and various improvements. Unit 4 is a 2 bed 1 bath with electric heat, metal roof and various improvements. The rent roll per month of the 4 occupied units in order previously listed is $700, $450, $575, $615. One could have 7 units on this property. Call now! Agent has ownership interest in property.

Listing Agent

Joseph Dixon

BHHS- Mountain Sky Properties-Hillsville Brokerage Phone: 2767289500 License #0225246102 Listed on: 12/10/2024

BHHS- Mountain Sky Properties-Hillsville

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $1,169

Year Built

  • Built in 1950

Lot Details

  • 1.02 Acre Lot
  • No Landscaping

Home Design

  • Newly Painted Property
  • Brick Exterior Construction
  • Fire Rated Drywall
  • Shingle Roof
  • Metal Roof
  • Metal Siding
  • Vinyl Siding

Interior Spaces

  • 1,102 Sq Ft Home
  • Ceiling Fan
  • Creek or Stream Views
  • Crawl Space
  • Storm Windows

Kitchen

  • Oven or Range
  • Stove

Flooring

  • Tile
  • Vinyl

Bedrooms and Bathrooms

  • 8 Bedrooms
  • 6 Bathrooms

Laundry

  • Laundry on main level
  • Washer and Dryer

Parking

  • Paved Parking
  • Open Parking

Schools

  • Galax Elementary And Middle School
  • Galax High School

Utilities

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

Listing and Financial Details

  • Tax Lot 46

Community Details

Overview

  • 4 Units

Building Details

  • Insurance Expense $700
  • Maintenance Expense $1,080
  • Gross Income $28,080
  • Net Operating Income $21,519

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$1,169

Year Built

Built in 1950

Lot Details

0

Listing Details

  • Property Sub Type: Multi Family
  • Prop. Type: Residential Income
  • Lot Size Acres: 1.02
  • Road Surface Type: Paved
  • Subdivision Name: None
  • Directions: Take exit 14 off I77 in Hillsville and head west on Hwy 58 towards Galax. Once in Galax take a left onto N. Meadow Street. Property is on the left
  • Above Grade Finished Sq Ft: 1102
  • Structure Type: Multiple Buildings
  • Year Built: 1950
  • ResoBuildingAreaSource: Estimated
  • Attribution Contact: 2767289500
  • Special Features: UnderContract

Interior Features

  • Appliances: Range/Oven, Refrigerator, Washer, Dryer, Electric Water Heater, 2 Bdrm-Washer/Dryer, 2 Bdrm-Stove, 2 Bdrm-Refrigerator
  • Has Basement: Crawl Space
  • Total Bedrooms: 8
  • Fireplace Features: None
  • Flooring: Tile, Vinyl, Vinyl Plank Floors
  • Interior Amenities: Ceiling Fan(s), Newer Paint
  • Living Area: 1102
  • Window Features: Metal, Single Pane, Storm Window(s), Vinyl
  • ResoLivingAreaSource: Estimated

Exterior Features

  • Lot Features: No Landscaping
  • View: Creek
  • View: Yes
  • Waterfront Features: None
  • Waterfront: No
  • Disclosures: Property Disclosure
  • Construction Type: Brick, Metal Siding, Vinyl Siding, Dry Wall
  • Property Condition: Exterior Condition: Average, Interior Condition: Average
  • Roof: Metal, Shingle

Garage/Parking

  • Open Parking: Yes
  • Parking Features: Paved

Utilities

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

Schools

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

Lot Info

  • Lot Size Sq Ft: 44431.2
  • Zoning: RES
  • Irrigation Water Rights: No
  • ResoLotSizeUnits: Acres

Multi Family

  • Number Of Units Total: 4
  • Annual Gross Income: 28080
  • Insurance Expense: 700
  • Maintenance Expense: 1080
  • Property Net Operating Income: 21518.52
  • Number Of Units Leased: 4
  • Total Actual Rent: 2340
  • Above Grade Finished Area Units: Square Feet

Tax Info

  • Tax Annual Amount: 1169
  • Tax Lot: 46
  • Tax Map Number: 73- 46
  • Tax Year: 2024

Map

Range of Values:

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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
12/10/2024 12/10/24 For Sale $179,900 0.0% $163 / Sq Ft
12/10/2024 12/10/24 For Sale $179,900 -- $163 / Sq Ft
Source: Southwest Virginia Association of REALTORS®

Source: Southwest Virginia Association of REALTORS®

MLS Number: 98143

Virginia Galax City County Galax 24333

4 Units Thomason Ln, Galax, VA

This home is located at 4 Units Thomason Ln, Galax, VA 24333 and is currently priced at $179,900, approximately $163 per square foot. This property was built in 1950. 4 Units Thomason Ln is a home located in Galax City with nearby schools including Galax Elementary School, Galax Middle School, and Galax High School.

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Joseph Dixon
Listing Agent
Joseph Dixon
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BHHS- Mountain Sky Properties-Hillsville
(276) 400-9660