2353 Mountain View TER SW & 2363, Roanoke, VA 24015

$1,087,500

Property Type: MultiFamily Lot Size (sq. ft.): 35,719 Status: Closed

Current Price: $1,087,500 List Date: 11/07/2015 Last Modified: 9/18/2024

Overview

Description

30x1 BR multifamily investment opportunity located in the heart of SW Roanoke City near historic Grandin Village. Property consists of two low-maintenance brick buildings situated on slab with off-street parking, central HVAC, & coin laundry. Some units have been upgraded with elegant tile backsplashes, modern appliances, & new laminate flooring. Current average rent is only $450, presenting a significant revenue growth opportunity through gradually increasing rents to market rate. With strong rental demand and historic performance, this asset pairs predictable cash flows with the potential to add value.

Listing Details MLS# 820688

Location, Tax & Legal

Area: 0130 - City of Roanoke - SW
Street Number: 2353
Street Name: Mountain View
Street Suffix: TER
Street Direction Sfx: SW
State/Province: VA
Zip Code: 24015
Subdivision: Virginia Heights
Municipality: City of Roanoke
Elementary School: Virginia Heights
Middle School: Woodrow Wilson
High School: Patrick Henry

General Property Description

Multi-Family Type: Apartments
Construction Status: Completed
Year Built: 1971
Present Use: Built-As
Number of Units: 30
# Unfurnished: 30
# Leased Units: 26
Gross Bldg SQFT: 16698
Lot Dimensions: Irregular
Total Acreage: 0.82
Basement Y/N: No
Parking Description: Private (10 or More)
# Vehicle Spaces: 30
Operating Expense: 50146
Net Operating Income: 103754
Gross Income: 162000
Water Class: N/A

Status Change Info

Ratified Contract Dt: 2015-12-01
Sold Date: 2016-04-08

Expenses

Management Exp: 12312
Maintenance Exp: 7969
Tax Exp: 10114
Insurance Exp: 3465
Electric Exp: 1224
Water Exp: 6931

More Information

Property Features

Limited Service: Not Limited Service Construction: Brick Basement: Slab Heating: Heat Pump Electric Cooling: Heat Pump Electric Water Description: Public Sewer Description: Public Sewer Water Heater Type: Tank Water Heater Energy: Electric Owner Expenses: Water Views: Mountain(s) Tenant Expenses: Air Conditioning; Electricity; Heating

Listing Office: WALDVOGEL COMMERCIAL PROPERTIES

Last Updated: September - 18 - 2024

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