Primary MarketReal EstateHallock Drive Townhouse
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.
- CoCR
- 5%
- Target IRR
- 28%
- Hold Period
- 3–5 years
- Tax Deduction
- 0.5–1×
Min. Investment
$50,000









