515 8th ST SW, Roanoke, VA 24016 (MLS# 866001)

$2,595,000

515 8th ST SW
Roanoke, VA 24016
MLS# 866001

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Property Description
Multiple offers received. Highest and best due no later than 5 PM Tuesday, February 4th. Tastefully renovated SW luxury living with 24 residential all featuring granite counters, stainless steel appliances, dishwashers, in unit laundry, individual heat pumps, and elegant fixtures and finishes. In 2017, Few Old Goats microbrewery space on premise and opened a popular tasting room and outdoor patio beer garden. Residents enjoy affordable, convenient apartment living close to downtown attractions such as the Jefferson Center for arts and entertainment, the Roanoke River Greenway and convenient access to major employers such as the VA Tech / Carilion Medical School and Roanoke Memorial Hospital.

Details

Maps

Contract Information

Current Price: $2,300,000

Sold Price: $2,300,000

List Date: 2020-01-13

Status: Closed

General Property Description

Multi-Family Type: Apartments

Construction Status: Completed

Year Built: 1950

Number of Units: 24

# Furnished: 1

# Unfurnished: 23

# Leased Units: 23

Gross Bldg SQFT: 19336

Lot Dimensions: 410x185

Total Acreage: 1.73

Basement Y/N: Yes

Basement: Partial Basement

Parking Description: Private (10 or More)

Operating Expense: 110882

Net Operating Income: 178583

Gross Income: 289466

Water Class: N/A

Location, Legal & Taxes

Major Area: 01 - City of Roanoke

Area: 0130 - City of Roanoke - SW

Street Number: 515

Street Name: 8th

Street Suffix: ST

Street Direction Sfx: SW

State/Province: VA

Zip Code: 24016

Subdivision: N/A

Lot: LOT 1 2 & W PTS 3 4

Block: 1

Municipality: City of Roanoke

Tax ID: 1113111

Annual Taxes: 4256

POA Y/N: No

Elementary School: Wasena

Middle School: James Madison

High School: Patrick Henry

Remarks & Misc

Directions: from downtown head west on Campbell Ave Property on corner of Campbell and 8th.

Status Change Info

Ratified Contract Dt: 2020-02-06

Sold Date: 2020-04-10

Sold Price: $2,300,000

Property Features

Limited Service: Not Limited Service

Construction: Brick

Heating: Heat Pump Electric

Cooling: Central Cooling

Water Description: Public Water

Sewer Description: Public Sewer

Owner Expenses: Other - See Remarks

Tenant Expenses: Other - See Remarks

Supplements

With other community amenities such as private off-street parking, community courtyard and BBQ and an off-leash pet area, the West End Flats offer a competitive rental advantage over other SW properties that creates reliable, long-term value for investors and an opportunity to acquire a stable, performing asset that will benefit from the continued growth and expansion.

Listing Office: WALDVOGEL COMMERCIAL PROPERTIES

Last Updated: April - 13 - 2020

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