Sancar Flats at West Rock | 28 W Rock St
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Sancar Flats at West Rock 28 W Rock St
48 Unit Apartment Building $8,100,000 ($168,750/Unit) Harrisonburg, VA 22802
Investment Highlights
- 48-Unit Adaptive Re-Use Property Located in Downtown Harrisonburg, VA
- Current Rents are Approximately 15% Below Market
- Less than 1 Mile from James Madison University | 22,758 Students
- Opportunity to Add Additional Multifamily Levels By-Right
- 98% Average Multifamily Occupancy in Downtown Harrisonburg, VA
Executive Summary
Feldman Ruel is pleased to offer for sale Sancar Flats, a 95% leased, 48-unit multifamily property located in downtown Harrisonburg, Virginia. The property's location has historically been the first choice for off-campus housing among students at James Madison University (JMU) for many years. The neighborhood has undergone a significant transformation including nearby retail amenities and the delivery of recently constructed mixed-use developments adjacent to the subject property. Sancar Flats offers a unique opportunity to re-tenant the building with students, renting by the bed and capitalizing on the large floor plans and on-site parking.
Property Facts
| Price | $8,100,000 | Building Class | B |
| Price Per Unit | $168,750 | Lot Size | 1.42 AC |
| Sale Type | Investment | Building Size | 38,400 SF |
| No. Units | 48 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built/Renovated | 1950/2008 |
| Apartment Style | Low Rise |
| Price | $8,100,000 |
| Price Per Unit | $168,750 |
| Sale Type | Investment |
| No. Units | 48 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | B |
| Lot Size | 1.42 AC |
| Building Size | 38,400 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1950/2008 |
Unit Amenities
- Air Conditioning
- Dishwasher
- Disposal
- Washer/Dryer
- Heating
- Ceiling Fans
- Kitchen
- Granite Countertops
- Hardwood Floors
- Stainless Steel Appliances
- Walk-In Closets
- Wi-Fi
- Wheelchair Accessible (Rooms)
Site Amenities
- Security System
- Recycling
- Trash Pickup - Door to Door
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 42 | - | 750 - 1,100 |
| 2+1 | 2 | - | 1,000 - 1,400 |
| 2+2 | 4 | - | 1,200 |
Walk Score ®
Walker's Paradise (90)
zoning
| Zoning Code | B1 (General Business) |
| B1 (General Business) |
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Christopher Chadwick -
Alex Petrov -
Josh Feldman -
Feldman Ruel
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Sancar Flats at West Rock | 28 W Rock St
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