807 Barrows Mill Rd, Martinsville, VA 24112

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Building Details:

807 Barrows Mill Rd is located in Martinsville, VA.

100% Occupied apartment building was constructed in 1985. A new roof was put on in 2000. Windows were replaced for fold-out windows in 1995. All pipes have been replaced by copper. All hot water heaters have been replaced. City water and sewer. Owner self maintains.

Rents $500 - $550 per month.
Units are 1004 sf, 2 bedroom, 1 1/2 baths. Kitchens and Baths are tiled.

Some tenants have been there 8-10 yrs; mostly College/Hospital employees.

For Year 2010

* Rental Income: $20,355.00 (with one vacancy)
* Expenses: $ 4,486.0
* Net Income: $ 15,868
* 2010 Cap Rate with 1 vacancy = 7.1%