5 Unit Apartment Building Near I-81 with Immediate Lease-Up Potential

Turnkey multi-unit investment property! Five residential apartments, immediate availability, and a convenient Shenandoah Valley location give investors a strong opportunity to add a flexible multi-family property to your portfolio. Located at 9200 North Congress Street in New Market, this approximately 5,278-square-foot apartment building on 0.45 acre includes four 1-bedroom units and one 2-bedroom unit, currently vacant and ready for lease-up. The interior is in good condition, with laundry, central A/C, heat pump heating, public water and sewer, and ample paved parking adding practical appeal for tenants. The location offers convenient access to I-81, US 11, and US 211, connecting residents with Harrisonburg, Woodstock, and communities throughout the Shenandoah Valley. Nearby employment, education, recreation, and other amenities support demand for rental units in the area and broaden the property's potential tenant pool. James Madison University and Sentara RMH Medical Center are accessible in Harrisonburg, while Woodstock provides additional employment, services, and healthcare options. Locally, residents are close to New Market Community Park, Shenvalee Golf Resort, the Skyline Drive, the Virginia Museum of the Civil War, New Market Battlefield State Historical Park, Luray Caverns, Bryce 4-Season Resort, the Shenandoah River, and other outdoor recreational activities. Additional possibilities for the property could include hospitality, short-term rental/Airbnb, assisted living, extended-stay accommodations, workforce housing, or other residential or lodging concepts, subject to applicable requirements and approvals. Buyers should conduct their own due diligence to verify the existing unit configuration, zoning, permitted uses, square footage, building requirements, and any other factors relevant to their intended use of the property. Move-in ready with lots of potential, this property can strengthen a growing investment portfolio or help establish a multi-revenue rental profile for new investors. Coldwell Banker Premier offers full-service property/rental management, connect with us for details about projected rental income, management options, and to discover what this asset could do for you!