135 Salem AVE SW, Roanoke, VA 24011

$1,595,000

Property Type: MultiFamily Lot Size (sq. ft.): 3,485 Status: Pending

Current Price: $1,595,000 List Date: 2/09/2026 Last Modified: 6/29/2026

Overview

Description

135 W Salem Avenue is an investment opportunity in the heart of Downtown Roanoke. This 10-unit mixed-use asset combines historic Roanoke character with modern livability, offering investors both stability and upside. The property features ground-floor commercial space positioned for strong visibility on the corner of Salem Ave and 2nd Street. Above the commercial space are nine residential units served by an elevator. 135 W Salem delivers immediate and diversified cash flow, supported by a mix of long-term residents and short-term executive tenants. The short-term units cater primarily to executive and traveling healthcare professionals. a tenant base that continues to grow alongside Roanoke's expanding medical and technology sectors.

Listing Details MLS# 924529

Location, Tax & Legal

Area: 0110 - City of Roanoke - Downtown
Street Number: 135
Street Name: Salem
Street Suffix: AVE
Street Direction Sfx: SW
State/Province: VA
Zip Code: 24011
Subdivision: N/A
Municipality: City of Roanoke
Elementary School: Highland Park
Middle School: James Madison
High School: William Fleming

General Property Description

Multi-Family Type: Apartments
Construction Status: Completed
Year Built: 1906
Number of Units: 10
# Furnished: 6
# Unfurnished: 4
# Leased Units: 10
Gross Bldg SQFT: 15676
Lot Dimensions: 30 x 140
Total Acreage: 0.08
Basement Y/N: No
Parking Description: Off Site
Operating Expense: 73627
Net Operating Income: 133068
Gross Income: 206695
Water Class: N/A

Status Change Info

Ratified Contract Dt: 2026-06-29

More Information

Property Features

Limited Service: Not Limited Service Construction: Brick Heating: Forced Air Electric; Heat Pump Electric Cooling: Central Air Water Description: Public Sewer Description: Public Sewer Owner Expenses: Water Tenant Expenses: Cable TV; Deposit; Electricity

Listing Office: POE & CRONK REAL ESTATE GROUP

Last Updated: June - 29 - 2026

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