NOT LISTED FOR SALE

526 Whites Mill Rd Abingdon, VA 24210

49 Beds
49 Baths
51,328 Sq Ft
1.98 Acres

Last Sold September 16, 2019

Last sale price $1,200,000 $23 Per Sq Ft

222 Days on Market

Highlights

  • 1.98 Acre Lot
  • Mature Trees
  • Forced Air Heating and Cooling System
  • Greendale Elementary School Rated 9+
  • Paneling
  • 3-minute walk to Munchkin Park

About This Home

As of September 2019

GREAT INVESTMENT OPPORTUNITY ON 33 UNIT APARTMENTS,, 16 TOWNHOUSE STYLE UNITS THAT RENTS FOR $525.00 PER MONTH, 6 ONE BEDROOMS UNITS THAT RENTS FOR $425.OO PER MONTH,, AND 11 EFFICIENCY UNITS THAT RENTS FOR $375.00 PER MONTH.INCOME IS BASED ON ALL UNITS BEING RENTED, EXPENSES ARE ESTIMATED AT 30% OF INCOME. COMMON AREA FOR LAUNDRY.

Last Agent to Sell the Property

Ralph Johnson

Meade Realty License #0225006140 Listed on: 10/19/2018

Last Buyer's Agent

Non Member Non Member

Non Member Office

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $10,815

Year Built

  • Built in 1979

Lot Details

  • 1.98 Acre Lot
  • Mature Trees

Home Design

  • Brick Exterior Construction
  • Slab Foundation
  • Shingle Roof

Interior Spaces

  • 51,328 Sq Ft Home
  • Paneling
  • Crawl Space

Kitchen

  • Oven or Range
  • Stove
  • Range Hood

Flooring

  • Carpet
  • Vinyl

Bedrooms and Bathrooms

  • 49 Bedrooms
  • 49 Bathrooms

Parking

  • Paved Parking
  • Open Parking

Schools

  • Greendale Elementary School
  • E B Stanley Middle School
  • Abingdon High School

Utilities

  • Forced Air Heating and Cooling System
  • Separate Meters
  • Natural Gas Not Available
  • Electric Water Heater
  • Cable TV Available

Listing and Financial Details

  • Total Actual Rent $950
  • Tax Lot 6

Community Details

Overview

  • 33 Units

Building Details

  • Insurance Expense $6,105
  • Other Expense $19,754
  • Gross Income $175,900
  • Net Operating Income $123,124

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$10,815

Year Built

Built in 1979

Lot Details

0

Listing Details

  • Property Sub Type: Apartment
  • Prop. Type: Residential Income
  • Lot Size Acres: 1.98
  • Lot Size: 1.98 ACRES
  • Road Surface Type: Paved
  • Directions: FROM EXIT 17 OF INTERSTATE 81 GO NORTH ON CUMMING ST. TO VALLEY STREET, RIGHT VALLEY STREET TO WHITES MILL ROAD, LEFT ON WHITES MILL ROAD TO PROPERTY ON RIGHT.
  • Structure Type: Multiple Buildings
  • Year Built: 1979
  • Special Features: None

Interior Features

  • Appliances: Range Hood, Range/Oven, Refrigerator, Electric Water Heater, 1 Bdrm-Stove, 2 Bdrm-Stove, 1 Bdrm-Refrigerator, 2 Bdrm-Refrigerator
  • Has Basement: Crawl Space
  • Total Bedrooms: 49
  • Fireplace Features: None
  • Flooring: Vinyl, Carpet
  • Interior Amenities: Paneling
  • Living Area: 51328
  • Window Features: Single Pane

Exterior Features

  • Waterfront Features: None
  • Waterfront: No
  • Disclosures: Property Disclosure
  • Construction Type: Brick
  • Exterior Features: Mature Trees
  • Foundation Details: Slab
  • Property Condition: Exterior Condition: Average, Interior Condition: Average
  • Roof: Shingle

Garage/Parking

  • Open Parking: Yes
  • Parking Features: Paved

Utilities

  • Laundry Features: Common Area, Other
  • Cooling: Central Air, 1 Bdrm-Central A/C, 2 Bdrm-Central A/C
  • Cooling Y N: Yes
  • Heating: Electric, Forced Air, Electric Heat
  • Heating Yn: Yes
  • Electric: Separate Meters
  • Sewer: Public Sewer
  • Utilities: Cable Connected, Natural Gas Not Available
  • Water Source: Public

Schools

  • Elementary School: Greendale
  • High School: Abingdon
  • Middle Or Junior School: E B Stanley

Lot Info

  • Lot Size Sq Ft: 86248.8
  • Zoning: R3
  • Irrigation Water Rights: No
  • ResoLotSizeUnits: Acres

Multi Family

  • Number Of Units Total: 33
  • Annual Gross Income: 175900
  • Insurance Expense: 6105
  • Property Net Operating Income: 123124
  • Number Of Units Leased: 33
  • Total Actual Rent: 950
  • Above Grade Finished Area Units: Square Feet

Tax Info

  • Tax Annual Amount: 10815.35
  • Tax Lot: 6
  • Tax Map Number: 002-1-6
  • Tax Year: 2018
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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 List to Sale Price per Sq Ft
09/16/2019 09/16/19 Sold $1,200,000 -14.3% $23 / Sq Ft
05/30/2019 05/30/19 Pending -- -- --
10/19/2018 10/19/18 For Sale $1,400,000 -- $27 / Sq Ft
Source: Southwest Virginia Association of REALTORS®

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $7,165 $1,389,800 $198,000 $1,191,800
2024 $72 $1,194,200 $148,500 $1,045,700
2023 $7,166 $249,100 $0 $249,100
2022 $7,166 $249,100 $0 $249,100
2021 $7,166 $1,194,300 $148,500 $1,045,800
2019 $7,488 $1,188,500 $148,500 $1,040,000
2018 $7,488 $1,188,500 $148,500 $1,040,000
2017 $7,488 $1,188,500 $148,500 $1,040,000
2016 $7,941 $1,260,400 $148,500 $1,111,900
2015 $7,941 $1,260,400 $148,500 $1,111,900
2014 $7,941 $1,260,400 $148,500 $1,111,900
Source: Public Records

Agents Affiliated with this Home

  • Ralph Johnson

    Seller's Agent in 2019

    Ralph Johnson

    Meade Realty

    (888) 828-3789

    10 in this area

    64 Total Sales

    Ralph Johnson
    Section Image

  • N

    Buyer's Agent in 2019

    Non Member Non Member

    Non Member Office

See All Agents

Map

Source: Southwest Virginia Association of REALTORS®

MLS Number: 67074

Virginia Washington County Abingdon 24210

526 Whites Mill Rd, Abingdon, VA

Not Listed for Sale

MultiFamily

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