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Sold on 12/29/2024

1120 River Oak Dr, Forest, VA 24551

$2,000,000

Last sold 12/29/2024 after 49 Days

  • —

    bed

  • —

    bath

Multi-family not for sale
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About 1120 River Oak Dr

Property type Multi-family
Neighborhood
Year built 1984
HOA fee $0/month
Lot size 7.23 Acre
Rental estimate
Property description
Do you want to own rental property in Forest in nice condition that is easy to maintain and rent, then Willow Oak Village is for YOU! A unique property consisting of 17 two bedroom, one bath units. It made up of 5 single family homes, a 3 plex, a 9 plex on 7 acres and views of the Peaks of Otter. Several units have been recently renovated with new granite, cabinets and LVP flooring. Other major work completed including metal roofs on all buildings and new asphalt parking lot and driveway. Owner pays for lawn maintenance, county water and trash pickup. Tenants pay their own electric and each has a heat pump. Each unit has washer/dryer hookups. Forest Schools. Includes a 48 X 24 Garage under the 9 plex used as a shop or storage. All units are on one Deed and can not be separated. All units occupied under annual leases. Could possibly build additional units on the existing property.
Listed by
Listing Agent - Travis Hundt
Listing Office - Cornerstone Realty Group Inc
Source: Lynchburg MLS mls logo
MLS#355711 • last updated 1 year ago
Movoto checked Lynchburg MLS for data 1 hour ago
Overview
Cooling/AC Heat Pump
Heating Heat Pump
SubType Multi-Family
Status Pending
Type Multi-Family
Lot Size (Acres) 7.23
Lot Size (SqFt) 314939
Estimated Taxes 5544
Year Built 1984
Interior
Flooring Carpet, Other
Exterior
Exterior Board And Batten
Parking Off Street Parking, Parking Lot, Paved Drive
Amenities / Utilities
Utility - Electric Southside Elec CoOp
Sewer/ Septic Septic Tank
Water County
Water Heater Individual
Miscellaneous Individual Laundry
Location
County/ City Bedford
Area Bedford
School District Bedford
Directions Bellevue Then Right On Great Oak Dr The Left On Willow Oak Dr And Left On River Oak Dr.
Multifamily Details
Unit 6: Amenities Balcony/Patio, Cable TV, Carpet, Refrigerator, Washer Hookup
Owner Pays Trash Removal, Water
Total # Units 17
Expense: Water 4050
Expense: Taxes 5544
Annual Gross Income 193680
Expense: Insurance 5487
Rental est.: $1,078/month
Gross rent multiplier: 154.7
  • Dec 2024
    mls logo MLS # 355711
  • Dec 30, 2024 Pending
    —
  • Nov 10, 2024 Listed
    $2,350,000
  • 1120 River Oak Dr
    $2M
  • Bedford
    —
  • 24551
    $425K -8% y/y
  • Forest
    $425K -8% y/y
No chart available
Statistics calculated by Movoto

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8/10
New London Academy Elementary
public Grades PK, K-5
Bedford County Public Schools
6/10
Forest Middle School
public Grades 6-8
Bedford County Public Schools
5/10
Jefferson Forest High School
public Grades 9-12
Bedford County Public Schools
Source: GreatSchools.org © 2026. All rights reserved.

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