117 Avendale AVE NE, Roanoke, VA 24012

$950,000

Property Type: MultiFamily Lot Size (sq. ft.): 21,780 Status: Closed

Current Price: $950,000 List Date: 2/24/2024 Last Modified: 9/29/2024

Overview

Description

Ideally located aside one of Roanoke's main thoroughfares and minutes from downtown Roanoke, this fully occupied 12-unit apartment complex offers a stable, performing asset with considerable upside. Currently under professional management, new leases have seen an increase of over 20%. Features include 1-bedroom and 2-bedroom floorplans, off street parking, onsite laundry facility, and central air in all units. Electricity separately metered and covered by tenants, owner pays water/sewer and trash removal. New roofs on both buildings within the last two years

Listing Details MLS# 905225

Location, Tax & Legal

Area: 0150 - City of Roanoke - NE
Street Number: 117
Street Name: Avendale
Street Suffix: AVE
Street Direction Sfx: NE
State/Province: VA
Zip Code: 24012
Subdivision: N/A
Municipality: City of Roanoke
Elementary School: Lincoln Terrace
Middle School: Lucy Addison
High School: William Fleming

General Property Description

Multi-Family Type: Apartments
Construction Status: Completed
Year Built: 1972
Present Use: Built-As
Number of Units: 12
# Unfurnished: 12
# Leased Units: 12
Gross Bldg SQFT: 10254
Total Acreage: 0.5
Basement Y/N: No
Parking Description: Private (10 or More)
Operating Expense: 38804
Net Operating Income: 68836
Gross Income: 107640
Water Class: N/A

Status Change Info

Ratified Contract Dt: 2024-03-04
Sold Date: 2024-03-22

More Information

Property Features

Limited Service: Not Limited Service Construction: Brick; Vinyl Basement: Crawl Space Heating: Heat Pump Electric Cooling: Central Air; Heat Pump Electric Water Description: Public Sewer Description: Public Sewer Lease Type: One Year Owner Expenses: Lawn Care; Trash Disposal; Water Tenant Expenses: Electricity Slr Pd Fin Concessns: Not Disclosed

Listing Office: WALDVOGEL COMMERCIAL PROPERTIES

Last Updated: September - 29 - 2024

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