135 Salem AVE SW, Roanoke, VA 24011
$1,795,000
Property Type:
MultiFamily
Lot Size (sq. ft.):
3,485
Status:
Active
Current Price:
$1,795,000
List Date:
2/09/2026
Last Modified:
3/19/2026
Overview
Description
135 W Salem Avenue is an investment opportunity in the heart of Downtown Roanoke. This 10-unit mixed-use asset combines historic Roanoke character with modern livability, offering investors both stability and upside.
The property features ground-floor commercial space positioned for strong visibility on the corner of Salem Ave and 2nd Street. Above the commercial space are nine residential units served by an elevator.
135 W Salem delivers immediate and diversified cash flow, supported by a mix of long-term residents and short-term executive tenants. The short-term units cater primarily to executive and traveling healthcare professionals. a tenant base that continues to grow alongside Roanoke's expanding medical and technology sectors.
Listing Details MLS# 924529
Location, Tax & Legal
- Area
- 0110 - City of Roanoke - Downtown
- Street Number
- 135
- Street Name
- Salem
- Street Suffix
- AVE
- Street Direction Sfx
- SW
- State/Province
- VA
- Zip Code
- 24011
- Subdivision
- N/A
- Municipality
- City of Roanoke
- Elementary School
- Highland Park
- Middle School
- James Madison
- High School
- William Fleming
- Major Area
- 01 - City of Roanoke
- Phase
- 0
- Lot
- 5 & 6
- Block
- 4
- Tax ID
- 1010404
- Annual Taxes
- 16922
- Section
- SW 1
- Zoning Code
- D
- POA Y/N
- No
General Property Description
- Multi-Family Type
- Apartments
- Construction Status
- Completed
- Year Built
- 1906
- Number of Units
- 10
- # Furnished
- 6
- # Unfurnished
- 4
- # Leased Units
- 10
- Gross Bldg SQFT
- 15676
- Lot Dimensions
- 30 x 140
- Total Acreage
- 0.08
- Basement Y/N
- No
- Parking Description
- Off Site
- Operating Expense
- 73627
- Net Operating Income
- 133068
- Gross Income
- 206695
- Water Class
- N/A
Remarks & Misc
- Directions
- Located on Salem Ave in Downtown Roanoke's CBD and a short drive from I-581
Limited Service
- Not Limited Service
- Yes
Construction
- Brick
- Yes
More Information
Heating
- Forced Air Electric
- Yes
- Heat Pump Electric
- Yes
Cooling
- Central Air
- Yes
Water Description
- Public
- Yes
Sewer Description
- Public Sewer
- Yes
Owner Expenses
- Sewer
- Yes
- Water
- Yes
Tenant Expenses
- Cable TV
- Yes
- Deposit
- Yes
- Electricity
- Yes
Property Features
Limited Service:
Not Limited Service
Construction:
Brick
Heating:
Forced Air Electric; Heat Pump Electric
Cooling:
Central Air
Water Description:
Public
Sewer Description:
Public Sewer
Owner Expenses:
Water
Tenant Expenses:
Cable TV; Deposit; Electricity
Listing Office:
POE & CRONK REAL ESTATE GROUP
Last Updated: March - 19 - 2026
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