Hallock Drive Townhouse
Summary
Offering Price: $3,500,000. Building Size: 37,088 SF. Number of Units: 38. Cap Rate: 6.75% (Year 1). Year Built: 2003. Zoning: R-3. Lot Size: 2.64 Acres. Average Unit Size: 976 SF. Projected Yield on Cost (Year 1): 6.4%. The investment includes a CapEx/closing-cost budget for unit renovations to turn units to market rent, reflecting a value-add opportunity with strong in-place income and rent growth potential. An 8% third-party management fee is factored into expenses. SVN | Wood Properties presents Hallock Drive Townhomes, a 38-unit townhouse community in Abingdon, VA. Built in 2003, the property features spacious two-bedroom, one-and-a-half-bathroom townhomes averaging 975-1,000 square feet. This well-maintained, stabilized asset offers strong in-place cash flow and significant upside potential through rent growth, benefiting from its attractive townhome layout, convenient access to Interstate 81, and proximity to major employment centers in the Tri-Cities region. The property is well-positioned to capitalize on strong rental demand and long-term economic growth in the area.
Overview
Hallock Drive Townhomes offers residents the opportunity to live in one of Southwest Virginia's most desirable communities. Located in Abingdon, the property combines the comfort and privacy of townhome living with convenient access to major employment centers, retail destinations, and recreational amenities. Residents are just minutes from Interstate 81, providing easy connectivity throughout the Tri-Cities region, including Bristol, Kingsport, and Johnson City. Abingdon is known for its historic downtown, vibrant arts scene, and exceptional quality of life. The area features popular attractions such as the Barter Theatre, Virginia Creeper Trail, South Holston Lake, and a variety of locally owned restaurants and shops. A diverse employment base supported by healthcare, manufacturing, education, and distribution continues to attract residents to the region. The property's location offers convenient access to shopping, healthcare, schools, and daily necessities while maintaining the quiet residential atmosphere renters seek. With its strong quality of life, regional accessibility, and steady economic fundamentals, Hallock Drive Townhomes benefits from a location that continues to support strong rental demand.
Key Metrics
- CoCR
- 5%
- Target IRR
- 28%
- Equity Multiple
- 1.5–2×
- Hold Period
- 3–5 years
- Tax Deduction
- 0.5–1×
- Min. Investment
- $50,000
Tax Benefits
Deprecioation: building 2.800,000 / 27.5 = 101800 Interest: Amount borrowed (2800000) X interest rate (.065) = $182,000
Fee Structure
| Fee Type | Amount |
|---|---|
| Management Fee | 1.5% of gross income |
| Acquisition fee | 3% of purchase price |
| Property Managament FEE | 8% |
| Legal | $5,000 |
| Title | $25,000 |
| Appraisal | $8,000 |
| Closaing Costs | 4% |
| Loan Origination | 1.5% |
| Inspection | $10,000 |
Sponsor Track Record
Josh Roosen
LinkMultifamily Wealth Nation (MWN) is a leading multifamily real estate education and investment community dedicated to helping investors build wealth through apartment syndications and commercial real estate. Through coaching, training, live events, and an active nationwide network of investors, MWN provides members with the systems, relationships, and guidance needed to source, analyze, fund, and close multifamily acquisitions. The community is built around collaboration, accountability, and helping members take action to scale their real estate businesses.
Bill Ham
LinkThe mission of Broadwell Property Group (BPG) is to identify and acquire under preforming multifamily properties in key markets around the South East United States. BPG provides the cash and experience necessary to renovate and/or repopulate these assets transforming them into highly profitable ventures in desirable locations. By following our exclusive BPG3 Concepts, the newly repositioned assets will yield a better home for our tenants, a better property for our communities and will command a superior Return on Investment for our owners and investors.
Documents
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Sponsor
Dominion Partners LLC
Utah, United States
Dominion Partners purchases Multi-Family Properties in accordance with well-defined and well proven guidelines. We recognize that investors are the life blood of the Multi Family Property business therefore, we are built around collaboration, accountability and regular communication during all stages from acquisition through exit. Multi-Family Properties provide investment in hard assets with exceptional security and exceptional returns on the investments.
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Disclaimer
All information in this listing has been provided by the seller or their representative. DealflowBridge.com has no stake in the sale of this listing, has not independently verified the information, and assumes no responsibility for its accuracy or completeness. Any stated return targets or projections are illustrative and based on the Sponsor's own assumptions, models, and expectations about future performance. These projections are not guarantees and are subject to market risks, investment volatility, and other uncertainties. Investors should review all available offering documents and conduct their own due diligence before making any investment decisions.