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Investment Highlights

  • Income-producing

Executive Summary

This investment property offers the owner an income stream from two apartments, and a manufactured home, with additional unoccupied commercial space that can be used as a rental or for owner/occupant use. One apartment is 1,100 sq/ft and the other is 850 sq/ft with a two-car carport attached. The manufactured home is 1,152 sq/ft. Conveniently located on Kentucky Avenue in the Ramsey section of Norton, VA. Just .3 mile from the intersection of U.S. 58-A, and from there, only 1.7 mile to the intersection of U.S. 23 to Big Stone Gap – south, or Wise and Kentucky – north. The commercial space includes 2,000 sq/ft of interior office space, storage space, and a one vehicle bay garage. Ideal for retail office or wholesale uses. Current lease agreements and income & expenses are available. This property has been kept in good condition and offers the buyer many advantages for ownership benefits. Contact us for more information and all questions that you may have.

Property Facts

Price $376,117 CAD
Price Per Unit $125,372 CAD
Sale Type Investment
Cap Rate 4.38%
No. Units 3
Property Type Multifamily
Property Subtype
Apartment
  • Office Office Residential
Apartment Style Low-Rise
Building Class C
Lot Size 0.07 AC
Building Size 5,102 SF
No. Stories 2
Year Built 1985
Opportunity Zone Yes
Zoning B-3

Amenities

Unit Amenities

  • Air Conditioning
  • Kitchen
  • Refrigerator
  • Oven
  • Range
  • Tub/Shower

Site Amenities

  • 24 Hour Access
  • Tenant Controlled HVAC
  • Walking/Biking Trails
  • Bicycle Storage
  • Walk-Up
Not walkable
10/100
Exceptionally drivable
100/100
Somewhat bikeable
20/100

Property Taxes

Property Taxes

Parcel Number
232N-0783
Land Assessment
$20,546 CAD
Improvements Assessment
$125,328 CAD
Total Assessment
$145,874 CAD
  • Listing ID: 35253483

  • Date on Market: 2025-03-25

  • Last Updated:

  • Address: 1523 Kentucky Ave SE, Norton, VA 24273

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