225 E Murray ST & 229, Fincastle, VA 24090

$755,000

Property Type: MultiFamily Lot Size (sq. ft.): 50,094 Status: Closed

Current Price: $755,000 List Date: 7/21/2021 Last Modified: 9/26/2024

Overview

Description

12 unit apartment complex in very desirable location, Top apartment is former Central Academy school which was transformed to apartments in 1970, Great investment opportunity and income could rise as rent has not increased in the last 4 years! Recent upgrades include: Paved parking lot with individual parking spots painted. New metal roof on upper apartment building installed in 2020. New roof on lower apartment building installed in 2018. Ten new HVAC units out of the 12 installed within the last 5 years. New guttering on both buildings. Upper building has two 2 bedroom apartments, one two bedroom and 2 one bedroom apartments. Lower building has 7 two bedroom apartments.

Listing Details MLS# 882128

Location, Tax & Legal

Area: 0700 - Botetourt County
Street Number: 225
Street Direction Pfx: E
Street Name: Murray
Street Suffix: ST
State/Province: VA
Zip Code: 24090
Subdivision: N/A
Municipality: Botetourt County
Elementary School: Breckinridge
Middle School: Central Academy
High School: James River

General Property Description

Multi-Family Type: Apartments
Construction Status: Completed
Year Built: 1970
Number of Units: 12
# Unfurnished: 12
# Leased Units: 12
Gross Bldg SQFT: 4590
Total Acreage: 1.15
Basement Y/N: No
Parking Description: Private (10 or More)
# Vehicle Spaces: 20
Operating Expense: 11200
Net Operating Income: 67520
Gross Income: 78720
Water Class: N/A

Status Change Info

Ratified Contract Dt: 2021-08-16
Sold Date: 2021-10-15

Miscellaneous Info

Public Transport: No

Expenses

Maintenance Exp: 1500
Tax Exp: 4298
Electric Exp: 240
Water Exp: 3360
Other Exp: 1800

More Information

Property Features

Limited Service: Not Limited Service Construction: Vinyl; Wood Basement: Crawl Space Heating: Heat Pump Electric Cooling: Central Air Water Description: Public Sewer Description: Public Sewer Water Heater Energy: Electric Lease Type: Month To Month Owner Expenses: Trash Disposal; Water Interior Features: Ceiling Fan(s); Storage Misc Features: Current Lease; Pet Allowed Internet Access: Cable Views: Mountain(s) Tenant Expenses: All Utilities; Cable TV; Deposit

Listing Office: MKB, REALTORS®

Last Updated: September - 26 - 2024

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