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
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.
More Information MLS# 820688
General Property Description
Lot Dimensions: Irregular
Multi-Family Type: Apartments
Construction Status: Completed
Total Acreage: 0.82
Present Use: Built-As
# Furnished: 0
# Unfurnished: 30
# Leased Units: 26
Gross Bldg SQFT: 16698
Basement Y/N: No
Water Class: N/A
Parking Description: Private (10 or More)
# Vehicle Spaces: 30
Gross Income: 162000
Year Built: 1971
Number of Units: 30
Operating Expense: 50146
Net Operating Income: 103754
Location, Tax & Legal
Major Area: 01 - City of Roanoke
Unit #: & 2363
Phase: 0
Subdivision Map: 0
Lot: 1 & 2
Block: 0
Tax ID: 1430103, 1430104
Annual Taxes: 10114
Section: 0
Zoning Code: RMF
POA Y/N: No
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
Remarks & Misc
Directions: Pass Grandin Road on Memorial. Turn right onto Faquier Street and continue until it becomes Mountain View Terrace. Property on the left.
Limited Service
Not Limited Service: 1
Construction
Brick: 1
Basement
Slab: 1
Views
Mountain(s): 1
Heating
Heat Pump Electric: 1
Cooling
Heat Pump Electric: 1
Water Description
Public: 1
Sewer Description
Public Sewer: 1
Water Heater Type
Tank: 1
Water Heater Energy
Electric: 1
Owner Expenses
Sewer: 1
Water: 1
Tenant Expenses
Air Conditioning: 1
Electricity: 1
Heating: 1
Expenses
Management Exp: 12312
Maintenance Exp: 7969
Tax Exp: 10114
Insurance Exp: 3465
Electric Exp: 1224
Water Exp: 6931
Contract Information
Current Price: $1,087,500
Sold Price: $1,087,500
List Date: 2015-11-06
Status: Closed
Status Change Info
Ratified Contract Dt: 2015-12-01
Sold Date: 2016-04-08
Sold Price: $1,087,500
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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