518 Elm AVE, Roanoke, VA 24016
$224,000
Property Type:
MultiFamily
Lot Size (sq. ft.):
6,970
Status:
Closed
Current Price:
$224,000
List Date:
4/30/2025
Last Modified:
11/10/2025
Description
Great Investment opportunity with tons of potential. Duplex located in Se Roanoke featuring 2 units, each with 2 bedrooms and 1 bath. Convenient located close to downtown Roanoke. Recent updates include new metal roof. Both units are currently, upstairs unit rented for $800 and downstairs unit rented for $900 and could rent for more. If you're looking to start investing or wanting to add an income producing unit to your growing portfolio. Look no further. Schedule a tour today.
More Information MLS# 914811
General Property Description
Multi-Family Type: Duplex
Construction Status: Completed
Total Acreage: 0.16
Present Use: Converted
# Furnished: 0
# Unfurnished: 2
# Leased Units: 2
Gross Bldg SQFT: 3062
Basement Y/N: Yes
Water Class: N/A
Parking Description: On Street
# Vehicle Spaces: 4
Gross Income: 21000
Year Built: 1921
Number of Units: 2
Operating Expense: 3677
Net Operating Income: 20633
Location, Tax & Legal
Major Area: 01 - City of Roanoke
Phase: 0
Lot: 8
Block: 12
Tax ID: 112-0809
Annual Taxes: 2177.32
Section: 0
POA Y/N: No
Area: 0130 - City of Roanoke - SW
Street Number: 518
Street Name: Elm
Street Suffix: AVE
State/Province: VA
Zip Code: 24016
Subdivision: Lewis
Municipality: City of Roanoke
Elementary School: Hurt Park
Middle School: James Madison
High School: Patrick Henry
Remarks & Misc
Directions: FRANKLIN RD, TO DOWNTOWN; LEFT ON ELM AVE
Limited Service
Not Limited Service: 1
Construction
Wood: 1
Basement
Full: 1
Heating
Forced Air Electric: 1
Miscellaneous Info
Upgrades: Metal Roof
Cooling
Window Unit(s): 1
Water Description
Public: 1
Sewer Description
Public Sewer: 1
Water Heater Type
Tank: 1
Water Heater Energy
Electric: 1
Lease Type
One Year: 1
Owner Expenses
Water: 1
Tenant Expenses
Electricity: 1
Exterior Maintenance: 1
Expenses
Tax Exp: 2177
Insurance Exp: 1000
Water Exp: 500
Slr Pd Fin Concessns
Not Disclosed: 1
Contract Information
Current Price: $224,000
Sold Price: $224,000
List Date: 2025-03-04
Status: Closed
Status Change Info
Ratified Contract Dt: 2025-08-22
Sold Date: 2025-11-10
Sold Price: $224,000
Property Features
Limited Service: Not Limited Service
Construction: Wood
Basement: Full
Heating: Forced Air Electric
Cooling: Window Unit(s)
Water Description: Public
Sewer Description: Public Sewer
Water Heater Type: Tank
Water Heater Energy: Electric
Lease Type: One Year
Owner Expenses: Water
Tenant Expenses: Electricity; Exterior Maintenance
Slr Pd Fin Concessns: Not Disclosed
Listing Office: PALMER REALTY GROUP LLC
Last Updated: November - 10 - 2025
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