204 Central Avenue Avenue, Central Suffolk, VA 23434

Property Description

Large driveway w/ carport and large storage shed w/ 2 access points. Unit mix is (2) 3 bed x 1 bath 1100 sq ft. Tenant pays all utilities. FOUR-DUPLEX PORTFOLIO–INVESTMENT OPPORTUNITY. Seller offering the following properties individually and also considers offers for 2, 3, o all 4 properties: 204 Central Ave, Suffolk – MLS#10656924 – $280,000; 1725/1727 Prentis Ave, Portsmouth – MLS#10656902 – $260,000; 1622 Prentis Ave, Portsmouth – MLS#10656915 – $245,000; and 1551 Spruce St, Norfolk – MLS#10656917 – $290,000. Total individual asking prices: $1,075,000. Package offers to receive preferential consideration or pricing depending upon number of properties purchased and overall terms of offer. IMPORTANT LENDER APPROVAL REQUIREMENT: All 4 properties currently secure a commercial umbrella loan. Any individual or package sale is subject to approval by existing lender of the release; Payoff terms applicable to each property being sold. Not a traditional residential short sale; however, lender participation and written approval of each property release will be required before closing. Buyers and agents should anticipate additional time for lender review and should structure settlement dates accordingly. Seller may consider and negotiate offers subject to this lender approval process. Seven of eight units are currently tenant occupied. Tenant privacy and required notice periods to be respected. Occupied units will be shown only during designated showing days and tenant-available time blocks established by the listing agent. Prior to occupied-unit showings, prospective purchasers should provide evidence of funds available for the required down payment and current lender preapproval or other satisfactory financing documentation. One unit at 1622 Prentis Ave is currently vacant and may be available for more flexible showing appointments. Lease information / basic rent roll available to qualified prospective purchasers. Contact listing agent regarding showing schedules, multiple-property/package offers, lender approval procedures, lease info and addtl details.