202 Elm AVE SW, Roanoke, VA 24016

$1,350,000

Property Type: MultiFamily Lot Size (sq. ft.): 7,405 Status: Closed

Current Price: $1,350,000 List Date: 11/11/2022 Last Modified: 9/15/2025

Overview

Description

Property is just out of the Historic district. Location is fantastic to everything downtown Roanoke! Most of the windows have been replaced with vinyl replacement windows. Roof was replaced this year, new 30 year architectural shingles. Property never has a problem with renting out vacant units. Owner has updated many of the units. Many long term tenants as well. Owner owns coin operated laundry machines which are located on first floor. One of Southwest's best! Buyer and buyer agent to verify and satisfy themselves to the condition and accuracy of this information. Property to be sold ''As Is'' seller will not make any repairs.

Listing Details MLS# 893385

Location, Tax & Legal

Area: 0130 - City of Roanoke - SW
Street Number: 202
Street Name: Elm
Street Suffix: AVE
Street Direction Sfx: SW
State/Province: VA
Zip Code: 24016
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: 1928
Present Use: Built-As
Number of Units: 16
# Unfurnished: 16
# Leased Units: 14
Gross Bldg SQFT: 11194
Lot Dimensions: 50X150
Total Acreage: 0.17
Basement Y/N: Yes
Parking Description: Private (10 or More)
# Vehicle Spaces: 22
Operating Expense: 57973
Net Operating Income: 115890
Gross Income: 57917
Water Class: N/A

Status Change Info

Ratified Contract Dt: 2022-11-22
Sold Date: 2023-01-06

Miscellaneous Info

Public Transport: Yes
Upgrades: Roof

Expenses

Management Exp: 7560
Maintenance Exp: 40453
Tax Exp: 9577
Electric Exp: 1080
Gas Exp: 2880
Water Exp: 6000

More Information

Water Access Only A

Distance to Off Site: N/A
Location of Off Site Water Access: N?A

Property Features

Construction: Brick; Wood Basement: Partial Heating: Heat Pump Electric Cooling: Heat Pump Electric Water Description: Public Sewer Description: Public Sewer Water Heater Type: Tank Water Heater Energy: Natural Gas Amenities Common: Cable TV Lease Type: One Year; Renewal Option Owner Expenses: Gas; Water Interior Features: Ceiling Fan(s) Misc Features: Laundry Facility; Maint-Free Exterior Internet Access: Cable Views: Mountain(s) Tenant Expenses: Cable TV; Electricity Slr Pd Fin Concessns: No

Listing Office: IVY REALTY LLC

Last Updated: September - 15 - 2025

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