602 Day AVE SW, Roanoke, VA 24016

$950,000

Property Type: MultiFamily Lot Size (sq. ft.): 19,602 Status: Closed

Current Price: $950,000 List Date: 2/19/2019 Last Modified: 9/22/2024

Overview

Description

17 unit brick, garden apartment building with 11 x 1BR/1BA units & 6 x 2BR/1BA units + on site coin laundry. Currently 1BR units rent between $550-$565 & 2BR units rent between $650-$675. The property was gutted & completely renovated within the last 10 years, including all major systems, including new central HVAC units, kitchens, & baths, as well as the addition of laundry facilities on site. The property is stable & performing well under professional management. Each unit has central HVAC & individual electric. Owner pays water/sewer, house electric only, & dumpster only. Turnkey property with additional upside available by continued cosmetic upgrades to unit interiors.

Listing Details MLS# 856181

Location, Tax & Legal

Area: 0130 - City of Roanoke - SW
Street Number: 602
Street Name: Day
Street Suffix: AVE
Street Direction Sfx: SW
State/Province: VA
Zip Code: 24016
Subdivision: Old Southwest
Municipality: City of Roanoke
Elementary School: Wasena
Middle School: James Madison
High School: Patrick Henry

General Property Description

Multi-Family Type: Apartments
Construction Status: Completed
Year Built: 1986
Present Use: Built-As
Number of Units: 17
# Unfurnished: 17
# Leased Units: 16
Gross Bldg SQFT: 12240
Lot Dimensions: 150 x 130
Total Acreage: 0.45
Basement Y/N: No
Parking Description: Private (10 or More)
# Vehicle Spaces: 17
Operating Expense: 40367
Net Operating Income: 74941
Gross Income: 115308
Water Class: N/A

Status Change Info

Ratified Contract Dt: 2019-03-01
Sold Date: 2019-05-02

Expenses

Management Exp: 9225
Maintenance Exp: 11531
Tax Exp: 7433
Insurance Exp: 3593
Electric Exp: 1663
Water Exp: 3145
Other Exp: 3778

More Information

Property Features

Limited Service: Not Limited Service Construction: Brick Basement: Slab Heating: Forced Air Electric Cooling: Central Air Water Description: Public Sewer Description: Public Sewer Water Heater Type: Tank Water Heater Energy: Electric Owner Expenses: Trash Disposal; Water Tenant Expenses: Air Conditioning; Electricity; Heating

Listing Office: WALDVOGEL COMMERCIAL PROPERTIES

Last Updated: September - 22 - 2024

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