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
Overview
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
Listing Details MLS# 905225
Location, Tax & Legal
- 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
- Major Area
- 01 - City of Roanoke
- Phase
- 0
- Subdivision Map
- Avendale
- Lot
- 7-9
- Block
- Yes
- Tax ID
- 3090921
- Annual Taxes
- 8816
- Section
- No
- Zoning Code
- RMF
- POA Y/N
- No
General Property Description
- Multi-Family Type
- Apartments
- Construction Status
- Completed
- Year Built
- 1972
- Present Use
- Built-As
- Number of Units
- 12
- # Unfurnished
- 12
- # Leased Units
- 12
- Gross Bldg SQFT
- 10254
- Total Acreage
- 0.5
- Basement Y/N
- No
- Parking Description
- Private (10 or More)
- Operating Expense
- 38804
- Net Operating Income
- 68836
- Gross Income
- 107640
- Water Class
- N/A
- # Furnished
- 0
Status Change Info
- Ratified Contract Dt
- 2024-03-04
- Sold Date
- 2024-03-22
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
- Yes
More Information
Construction
- Brick
- Yes
- Vinyl
- Yes
Basement
- Crawl Space
- Yes
Heating
- Heat Pump Electric
- Yes
Cooling
- Central Air
- Yes
- Heat Pump Electric
- Yes
Water Description
- Public
- Yes
Sewer Description
- Public Sewer
- Yes
Lease Type
- One Year
- Yes
Owner Expenses
- Lawn Care
- Yes
- Trash Disposal
- Yes
- Water
- Yes
Tenant Expenses
- Electricity
- Yes
Slr Pd Fin Concessns
- Not Disclosed
- Yes
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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