Lofts at Worsham School
8832 Abilene Road Farmville Virginia 23901
Contact Agent For Pricing
PROPERTY FEATURES
UNIT AMENITIES
One South Commercial is pleased to present for sale the historic Lofts at Worsham School (the “Property”), a 20-unit multifamily investment opportunity located adjacent to the campus of Hampden-Sydney College in Prince Edward County, VA and only minutes from Longwood University and Southside Community Hospital in Farmville, VA.
Converted to high quality apartments in 2011, the Lofts at Worsham School offer a unique combination of modern living and Colonial Revival charm. The Property stays fully occupied and offers investors reliable passive income as well as substantial opportunity to renovate, amenitize, grow rents, and improve bottom line revenue. All-inclusive rents include utilities, cable TV, internet, and trash removal whereas similar properties in Farmville require residents to contract directly for electricity, cable, and internet, or otherwise collect utility reimbursements. Current ownership has spared no expense in ongoing maintenance and resident retention since originally redeveloping the Property.
The Doyne
117 North Main
Belmont Landing
Poplar Forest Apartments
Lofts at Worsham School
College Corners on High (Deluxe)
Blackstone Lofts
Autumnwood Heights
ABOUT WORSHAM SCHOOL
“The Worsham School played a central role in Prince Edward County’s complex 20th century story and is listed on the Virginia and U.S. registers of historic places.”
After Virginia’s school-closing law was ruled unconstitutional in January 1959, the General Assembly repealed the compulsory school attendance law and gave the state’s counties and cities the option of operating public schools; the “local option” allowed officials to choose to close public schools. Ordered by two courts on May 1, 1959, to integrate its schools, the county instead closed its entire public school system.
The Worsham School is significant for its association with the struggle for school desegregation. Worsham initially opened in 1927 as an all-white public school but became one of four county schools leased by the Prince Edward Free School system, a privately organized but Kennedy-era federally supported organization that schooled Black students in the county. The free schools operated for one year, until 1964, when the county, responding to a court order, reopened all its public schools to all children regardless of race.
ABOUT FARMVILLE, VA
Farmville is located in the center of the Commonwealth and is approximately 64 miles west of the City of Richmond, 47 miles east of the City of Lynchburg and 76 miles south of the City of Charlottesville. As the region’s center of economic activity, Farmville’s current service area captures a population of approximately 120,000 people and the Town’s population increased 20% from the 2000 to 2010 Census. As a leader in regional development, Farmville is considered the source of innovative thought and expertise with respect to sound economic growth throughout the region. By focusing on a diverse retail sector with special emphasis on small business, a high-quality medical services community, and a highly visible system of recreational and tourism opportunities, the Town has seen growth in its tax base, its land area, and its population. This growth has produced a prosperous Town and Region that is respected throughout the Commonwealth and is considered a healthy and desirable place to own a business or industry, live, work, and raise a family.
*Source: farmvilleva.com
8832 Abilene Road, Farmville, VA, USA
Ryan’s practice at One South Commercial focuses on investment and development site sales throughout Virginia. He brings a detailed, solutions-oriented approach to each transaction and has successfully represented a wide array of buyers and sellers on deals ranging from $1 million to $35 million. A Richmond native with a background in institutional real estate management, Ryan leverages a wide network of industry contacts and his experience “under the hood” to advise One South Commercial’s clients on everything from local sub-markets to national capital markets, and is ready and able to tackle anything in between.
DISCLAIMER: This offering memorandum is intended as a reference for prospective purchasers in the evaluation of the property and its suitability for investment. Neither One South Commercial nor Seller make any representations or warranties with respect to the accuracy or completeness of the materials contained in the offering memorandum. Prospective purchasers should evaluate the property independently and rely solely on such independent evaluation in determining whether to purchase the property. The offering memorandum, pricing, and terms therein are subject to change or withdrawal at the discretion of Seller and One South Commercial, as Seller’s exclusive representative. *Information provided deemed reliable but not guaranteed
