117 Avendale AVE NE, Roanoke, VA 24012
$950,000
Property Type:
MultiFamily
Lot Size (sq. ft.):
21,780
Status:
Closed
Current Price:
$950,000
List Date:
2/24/2024
Last Modified:
9/29/2024
Description
Ideally located aside one of Roanoke's main thoroughfares and minutes from downtown Roanoke, this fully occupied 12-unit apartment complex offers a stable, performing asset with considerable upside. Currently under professional management, new leases have seen an increase of over 20%. Features include 1-bedroom and 2-bedroom floorplans, off street parking, onsite laundry facility, and central air in all units. Electricity separately metered and covered by tenants, owner pays water/sewer and trash removal. New roofs on both buildings within the last two years
More Information MLS# 905225
General Property Description
Multi-Family Type: Apartments
Construction Status: Completed
Total Acreage: 0.5
Present Use: Built-As
# Furnished: 0
# Unfurnished: 12
# Leased Units: 12
Gross Bldg SQFT: 10254
Basement Y/N: No
Water Class: N/A
Parking Description: Private (10 or More)
Gross Income: 107640
Year Built: 1972
Number of Units: 12
Operating Expense: 38804
Net Operating Income: 68836
Location, Tax & Legal
Major Area: 01 - City of Roanoke
Phase: 0
Subdivision Map: Avendale
Lot: 7-9
Block: 1
Tax ID: 3090921
Annual Taxes: 8816
Section: 0
Zoning Code: RMF
POA Y/N: No
Area: 0150 - City of Roanoke - NE
Street Number: 117
Street Name: Avendale
Street Suffix: AVE
Street Direction Sfx: NE
State/Province: VA
Zip Code: 24012
Subdivision: N/A
Municipality: City of Roanoke
Elementary School: Lincoln Terrace
Middle School: Lucy Addison
High School: William Fleming
Remarks & Misc
Directions: From downtown take Williamson Rd north, take right on to Avendale Ave., property will be on your right.
Limited Service
Not Limited Service: 1
Construction
Brick: 1
Vinyl: 1
Basement
Crawl Space: 1
Heating
Heat Pump Electric: 1
Cooling
Central Air: 1
Heat Pump Electric: 1
Water Description
Public: 1
Sewer Description
Public Sewer: 1
Lease Type
One Year: 1
Owner Expenses
Lawn Care: 1
Trash Disposal: 1
Water: 1
Tenant Expenses
Electricity: 1
Slr Pd Fin Concessns
Not Disclosed: 1
Contract Information
Current Price: $950,000
Sold Price: $950,000
List Date: 2024-02-22
Status: Closed
Status Change Info
Ratified Contract Dt: 2024-03-04
Sold Date: 2024-03-22
Sold Price: $950,000
Property Features
Limited Service: Not Limited Service
Construction: Brick; Vinyl
Basement: Crawl Space
Heating: Heat Pump Electric
Cooling: Central Air; Heat Pump Electric
Water Description: Public
Sewer Description: Public Sewer
Lease Type: One Year
Owner Expenses: Lawn Care; Trash Disposal; Water
Tenant Expenses: Electricity
Slr Pd Fin Concessns: Not Disclosed
Listing Office: WALDVOGEL COMMERCIAL PROPERTIES
Last Updated: September - 29 - 2024
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