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245 College Park, Danville, VA 24541

Danville
Local realty services provided by:CENTURY 21 ALL-SERVICE
245 College Park,Danville, VA 24541
$2,125,000
  • - Beds
  • - Baths
  • - sq. ft.
  • Multi-family
  • Pending
Listed by: cody allen mccraw, matthew ryan jones
Office: ivy realty llc.
MLS#:930991
Source:VA_RVAR

Price summary

  • Price:$2,125,000

About this home

26-unit multifamily property located in a desirable area of Danville, VA. Danville has created over 6,500 new jobs since 2020 due to recent expansions in the industrial and healthcare sectors, as well as the addition of a $640M Caesar's Casino, which is creating a younger and more vibrant community. The current owners have increased operational efficiencies since their purchase in 2024 by curing deferred maintenance and increasing rents. Due to aggressive rental increases, all units have been vacated and released to better qualified tenants. During the turnover and absorption period that units received light renovations (paint, flooring, appliances). Additional upside exists for potential buyers by continuing to increase rents and/or implementing a RUBS system. Current rents are $75/mo below Class C market rent on average due to in-place leases. A RUBS system could add an additional $55/unit/mo in revenue. Even higher rents are acheiveable with more extensive renovations. The current...

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Home facts

  • Year built:1983
  • Listing ID #:930991
  • Added:55 day(s) ago
  • Updated:October 28, 2026 at 08:22 AM

Heating and cooling

  • Cooling:Heat Pump Electric
  • Heating:Heat Pump Electric

Structure and exterior

  • Year built:1983
  • Lot area:1.43 Acres

Finances and disclosures

  • Price:$2,125,000
  • Tax amount:$10,902

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