Fairlawn Apartments

ONE Street Commercial Properties presents the following:

The property is located along a commercial arterial and is surrounded by national retail and restaurants in Fairlawn, Virginia.​

Radford University is less than 3.5 miles from the subject property

Investors will appreciate the opportunity to acquire a stable, high occupancy property with upside available through gradual increases in rents.​

50% of the current tenants have a voucher or are in Section 8 program.​

Appliances have been replaced for most units (stoves, refrigerators and new AC window units)

Replaced flooring with brand new high transit (Traffic MASTER & Water resistant ) in all lower units.​

The property operates with baseboard electric heat and new window A/C units for all the units.​

Electric service is separated and paid by the tenants.​

Owner pays trash and water & sewer.​

Owners Installed a new sump pump in back lot to pump water up into drainage system.​

Plenty of Parking, in front of the property and street parking.​

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.