Home Properties, declared that it has bought an apartment community located in Leesburg, VA. The community known as Somerset Park contains a total number of 108 units and is located in the center of Loudoun County, a wealthy and populous county.
Somerset Park located in Leesburg, VA. Credit: Home Properties
The apartment community presently enjoys 98.1% occupation and generates an average monthly rent of $1,382.
Somerset Park was first planned and developed into a condominium in 2006 with spacious floor plans and grand finish, and it was subsequently rented out and changed into an apartment community. The construction comprises a total of 108 units, which includes 72 one bed-room units and 36 two-bedroom units in 6 two and three storey garden type of constructions having an average unit size of 1,036 sq. ft. The housing units are constructed using wooden-frame along with poured foundations and concrete slab. The roofs are inclined with shingles of asphalt/composition. Every unit with a private deck or terrace is fitted with outside air conditioning condenser units mounted over pad, forced air furnaces and gas-fired water heaters and electric supply to the units is individually metered.
The interior of each unit is complete with 12” ceramic tile flooring, large sized double pane windows, ceiling fans in bedrooms, and crown molding. The kitchen is fitted with sinks, countertops, top-end appliances, wood cabinetry in maple shaker-style along with full size washers and dryers. Entertainment and internet facilities along with security alarms are included in every unit. Other available interior facilities include gas fireplaces with marble skirts, bookshelves, in-built entertainment facility, dual vanity sinks, and garden-style soaking tubs.
Other amenities available at the community include a pond with night-lit fountain views, picnic areas, outdoor grilling, paved walking trails, fitness studio and a well equipped clubhouse with Wi-Fi facility.
Source: http://www.homeproperties.com/