Newsletter Popup Form
Contact Us

    Main Content

    205 S College AVE, Salem, VA 24153 (MLS# 916453)

    205 S College AVE, Salem, VA 24153

    $965,000
    Property Type: MultiFamily Lot Size (sq. ft.): 13,504 Status: Closed
    Current Price: $965,000 List Date: 4/21/2025 Last Modified: 8/11/2025

    Description

    Located near the intersection of Main St. and College Ave, our 1890 commercial building is a historic and unique place with a style all its own - featuring two top floor, 3-bedroom suites and two ground level retail/office spaces. Most furnishings shall pass with the sale including all linens, towels, boutique hotel supplies, beds, furnishings, etc. Some personal art and furnishings not to pass. Secure electronic key code access to residential spaces which is currently operated as a two-suite boutique hotel. This 2-story, walk up home boasts high ceilings and hardwood floors some carpeting in one master suite which includes a full bath and dedicated office with ample closet space. The 2nd bedrooms contain a king-size bed overlooking South College Ave and is connected to the

    Supplements: smaller 3rd bedroom with a single bed. Both apartments include recently renovated gourmet kitchens featuring stainless steel appliances with trendy, epoxy counter tops and herring-bone style, subway tile backsplash, with exposed natural wood shelving. All bathrooms were also renovated in 2022. Ground floor is currently occupied by a Yoga studio and a local law office. Walking distance to restaurants, shopping and Salem's Farmer's Market. Home to Roanoke College, Salem is a small college town located in the beautiful Roanoke Valley. The stunning Alleghany and Blue Ridge Mountains surround Salem, providing a wealth of opportunities for outdoor recreation and nature appreciation. Residents and visitors can enjoy scenic drives along the Blue Ridge Parkway and gorgeous mountain and River views afforded by the nearby Appalachian Trail. Total 2024 income was $119,000 +/-.

    More Information MLS# 916453

    General Property Description

    Lot Dimensions: 100 x 135 Multi-Family Type: Other - See Remarks Construction Status: Completed Total Acreage: 0.31 Present Use: Built-As # Furnished: 2 # Unfurnished: 2 # Leased Units: 4 Gross Bldg SQFT: 7000 Basement Y/N: Yes Water Class: N/A Parking Description: Private (10 or More) Gross Income: 118800 Year Built: 1890 Number of Units: 4 Operating Expense: 43979 Net Operating Income: 74821

    Location, Tax & Legal

    Major Area: 03 - City of Salem Phase: 0 Lot: 0 Block: 0 Tax ID: 121-12-3 Annual Taxes: 4279 Section: 0 Zoning Code: TBD POA Y/N: No Area: 0300 - City of Salem Street Number: 205 Street Direction Pfx: S Street Name: College Street Suffix: AVE State/Province: VA Zip Code: 24153 Subdivision: N/A Municipality: City of Salem Elementary School: G. W. Carver Middle School: Andrew Lewis High School: Salem High

    Remarks & Misc

    Directions: As you drive south on S. College away from the entrance to Roanoke College the building will be on your right.

    Limited Service

    Not Limited Service: 1

    Construction

    Brick: 1

    Basement

    Dirt Floor: 1 Full: 1

    Views

    City: 1

    Heating

    Forced Air Gas: 1 Heat Pump Electric: 1

    Misc Features

    Wireless Internet: 1

    Miscellaneous Info

    Public Transport: Yes

    Cooling

    Central Air: 1

    Water Description

    Public: 1

    Sewer Description

    Public Sewer: 1

    Water Heater Type

    Tank: 1

    Water Heater Energy

    Natural Gas: 1

    Lease Type

    Other - See Remarks: 1

    Owner Expenses

    Management Fee: 1 Water: 1 Other - See Remarks: 1

    Interior Features

    Bookcases: 1 Ceiling Fan(s): 1 Walk-In Closet(s): 1 Other - See Remarks: 1

    Internet Access

    Cur'nt Internet Prov: Glow Fiber

    Tenant Expenses

    None: 1

    Expenses

    Maintenance Exp: 8000 Tax Exp: 4279 Insurance Exp: 7200 Electric Exp: 2750 Gas Exp: 1500 Water Exp: 2250 Other Exp: 14000

    Contract Information

    Current Price: $965,000 Sold Price: $965,000 List Date: 2025-04-21 Status: Closed

    Status Change Info

    Ratified Contract Dt: 2025-04-29 Sold Date: 2025-08-04 Sold Price: $965,000

    Property Features

    Limited Service: Not Limited Service Construction: Brick Basement: Dirt Floor; Full Heating: Forced Air Gas; Heat Pump Electric Cooling: Central Air Water Description: Public Sewer Description: Public Sewer Water Heater Type: Tank Water Heater Energy: Natural Gas Lease Type: Other - See Remarks Owner Expenses: Management Fee; Water; Other - See Remarks Interior Features: Bookcases; Ceiling Fan(s); Walk-In Closet(s); Other - See Remarks Misc Features: Wireless Internet Tenant Expenses: None
    Listing Office: VRC PROPERTIES LLC
    Last Updated: August - 11 - 2025
    All searches are performed on live data on the MLS server. Although the Multiple Listing Service of The Roanoke Valley is the single source for these listings, listing data appearing on this website does not necessarily reflect the entirety of all available listings within the Multiple Listing Service. All listing data is refreshed daily, but its accuracy is subject to market changes. All copyrights and intellectual property rights are the exclusive property of the Multiple Listing Service of The Roanoke Valley. Whether obtained from a search result or otherwise, visitors to this website may only use this listing data for their personal, non-commercial benefit. The unauthorized retrieval or use of this listing data is prohibited.