Fairlawn Apartments 7576 Old Peppers Ferry Loop

Fairlawn Apartments present a valuable investment opportunity, boasting stable, high occupancy with potential for increased revenue through gradual rent adjustments. Currently, half of the tenants benefit from vouchers or participate in the Section 8 program. The property has seen significant updates, including the replacement of appliances (stoves, refrigerators, and new AC window units) in most units, and the installation of new, high-traffic, water-resistant flooring in all lower units. Heating is provided by baseboard electric heat, and cooling by new window A/C units, with electric service individually metered and paid by tenants. The owner covers trash, water, and sewer expenses. Additionally, a new sump pump has been installed in the back lot to improve drainage. The property offers ample parking, both on-site and on the street, and is strategically located along a commercial arterial in Fairlawn, Virginia, surrounded by national retail and restaurants. Radford University is conveniently situated less than 3.5 miles away.