UNDER CONTRACT | Lofts At Worsham School | 8832 Abilene Road Farmville, VA 23901
Under Contract Listing
About This Property
One South Commercial is pleased to present for sale the historic Lofts at Worsham School, a 20-unit multifamily investment opportunity located adjacent to the campus of Hampden-Sydney College in Prince Edward County, VA and only minutes from Longwood University and Southside Community Hospital in Farmville, VA (the “Property”). Completely redeveloped in 2010, the Lofts at Worsham School offer a unique combination of modern living and Colonial Revival charm. The Property stays fully occupied and offers investors reliable cash flow and rental upside. All-inclusive rents include utilities, cable TV, internet, and trash removal. Current ownership has spared no expense in maintaining the Property, leaving elective income generating upgrades on the table for a new owner.
Additional Information
| Units | 20 |
|---|---|
| Parcel ID | 064-A-59 |
| Addl. Features | Deal Highlights: -Virtually no competition or development pipeline -High end modern finishes combined with historic charm -Solid track record of 100% occupancy -Rents growing more than 10% at trade outs -Auditorium space can be amenitized or converted to several additional units -Proximity to Hamden-Sydney College and Longwood University provide student housing optionality -Extraordinarily low fixed expenses Amenities: -Huge Community Room and Abundant Outdoor Recreation Space -Fitness Center -Stainless Steel Appliances & Granite Countertops -Washer/Dryer in Each Unit -Hardwood Floors -Ample Parking Building Features: -Central heating and air with thermostat in each unit -Modern well and septic system serviced regularly by local specialist and backed up by gas-fired generator -Fully sprinklered, smoke detectors in units and corridors -Units individually metered for electricity |
| Construction Date | 1927 |
| Renovation Date | 2011 |
| Co-broker Fee | No |