1201 Fairfax Street Access, Radford, VA 24141 - Radford County

Income Producing Homes for Sale Near Radford University

Looking to expand your real estate portfolio with high-income properties? We have an unmissable opportunity for you! Presenting 5 homes that are currently used for student housing which are in the vibrant city of Radford, VA. They are just a short walk away from Radford University. These properties are perfectly situated for consistent rental demand and substantial returns on investment. Don't let this chance slip away!

Offering #1 - 1201 Fairfax St., Radford, VA 24141

- Property Type: Single-family bungalow

- Bedrooms: 5

- Baths: 2

- Living Space: 1,834 sq ft

- Year Built: 1940

- Current Rent: $2,125/month

- Annual Income: $25,500

Offering #2 -1205 Fairfax St., Radford, VA 24141

- Property Type: Single-family conventional home

- Bedrooms: 3

- Baths: 1

- Living Space: 1,129 sq ft

- Year Built: 1939

- Current Rent: $1,275/month

- Annual Income: $15,300

Offering #3 -1207 Fairfax St., Radford, VA 24141

- Property Type: Single-family 2-story brick ranch home

- Bedrooms: 7

- Baths: 2

- Living Space: 2,064 sq ft

- Year Built: 1923

- Current Rent: $3,500/month

- Annual Income: $42,000

- Heat Pump Updated in 2023

Offering #4 -1211 Fairfax St., Radford, VA 24141

- Property Type: Single-family conventional style home

- Bedrooms: 6

- Baths: 2

- Living Space: 1,862 sq ft

- Year Built: 1944

- Current Rent: $2,750/month

- Annual Income: $33,000

- Heat Pump Updated in 2023

Offering #5: 1217 Fairfax St., Radford, VA 24141

- Property Type: Single-family conventional home

- Bedrooms: 4

- Baths: 1

- Living Space: 1,374 sq ft

- Year Built: 1934

- Current Rent: $1,700/month

- Annual Income: $20,400

- Heat Pump Updated in 2023

Property Highlights:

- Prime Location: These properties are ideally situated within walking distance of Radford University, ensuring a consistent pool of student tenants and excellent rental potential.

- Stable Income Stream: The combined annual income from all 5 homes is an impressive $136,200, offering a solid and reliable cash flow.

- Zoned R4: The properties are zoned R4, allowing for flexible usage and potential future expansion or development opportunities.

- Public Utilities: All homes are served by public water and sewer, providing convenience and hassle-free maintenance.

- Lease Expiration: All current leases expire on August 1st, 2024, allowing for potential rental adjustments or renovations.

- Other: Check out our website for an article below concerning the plan for free enrollment for Radford University Students in the Fall of 2024. This may result in an increase of enrollment for Radford University.

Don't miss out on this exceptional investment opportunity!

Online Auction Ends Thursday, April 11th at 3 PM

1201, 1205, 1207, 1211, 1217 Fairfax St., Radford, VA 24141

BIDDER PACK: Download Bidder Pack for complete information on each offering. Bidder Pack has maps, complete terms and conditions, sample contracts, tax cards, and restrictions. Some of the plats in Bidder Pack may have notations and boundaries created by Auctioneer for illustration purposes, however unchanged surveys are in Bidder Pack as well.

SOFT CLOSE: If a bid is received within the last 2 minutes of the auction, the auction close time will automatically extend 2 minutes to allow other bidders an opportunity to competitively bid prior to the auction closing. This feature eliminates snipers and encourages fair and impartial bidding from all participants.

SIMULTANEOUS CLOSE OF LOT BIDDING: Bidders desiring more than one offering (home) will need to be high bidder on all offerings (homes) desired. Each offering will stay open until all bidding is complete, and all offerings will close simultaneously.

BUYERS PREMIUM TEN PERCENT (10%): Buyers Premium shall be added to the final online bid, which will determine the Total Contract Sales Price. Bidders hereby acknowledge and understand that the Buyers Premium will be added to the winning bid to create the Total Contract Sales Price for which they are obligated to pay for the property. Example: (winning online bid $100,000 + 10% buyers premium = total purchase price of $110,000). Buyers Premium is not due until closing.

PRE-AUCTION SALES: As an agent for the Seller, the Auctioneer must present any and all bona fide written offers to the Seller, which may be created outside of the online bidding platform. Therefore, all properties are subject to pre-auction sales. Pre-auction offers must meet all off the auction terms and conditions and must be submitted to the Auctioneer on the Auction Real Estate Sales Contract, along with the required earnest deposit. Properly submitted offers will be presented to the Seller in a timely manner. Seller may accept or reject such offer at their sole and absolute discretion. When a pre-auction offer is submitted, all properly registered online bidders will be notified that an offer has been submitted and on which specific property, however the amount of the offer shall remain confidential. All pre-auction offers must allow a minimum of 24 hours for sellers acceptance. A Broker Fee of 2% (of the High Bid Price) is offered to a cooperating VA State Licensed Real Estate Broker on any pre-auction offers that are properly completed and submitted on the appropriate forms provided. Download Bidder Pack for Online Bidders Agreement, maps, sample contracts, and property information.

TERMS & CONDITIONS: 10% Buyers Premium will be added to final high bid to arrive at contract price. Earnest Money Deposit of $10,000 per offering is required on day of sale. Close on or before May 28th, 2024. Subject to seller confirmation. Property sold as is, where is with any and all faults. Buyer is expected to complete their own due diligence before placing a bid. Auction starts ending at 3 PM on April 11th, 2024. Please note that during the last two minutes of bidding, if a new bid is placed, the clock is automatically extended an additional two minutes. Be sure to register to bid early to ensure you receive notifications regarding any changes to the Auction, Bidder Packet and/or Pre-Auction offers received. Download Bidder Information Pack for complete terms and conditions, purchase contract and maps.