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:
3/25/2026
Overview
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: ... (Read more)
Listing Details MLS# 916453
Location, Tax & Legal
- 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
- Major Area
- 03 - City of Salem
- Phase
- 0
- Lot
- No
- Block
- No
- Tax ID
- 121-12-3
- Annual Taxes
- 4279
- Section
- No
- Zoning Code
- TBD
- POA Y/N
- No
General Property Description
- Multi-Family Type
- Other - See Remarks
- Construction Status
- Completed
- Year Built
- 1890
- Present Use
- Built-As
- Number of Units
- 4
- # Furnished
- 2
- # Unfurnished
- 2
- # Leased Units
- 4
- Gross Bldg SQFT
- 7000
- Lot Dimensions
- 100 x 135
- Total Acreage
- 0.31
- Basement Y/N
- Yes
- Parking Description
- Private (10 or More)
- Operating Expense
- 43979
- Net Operating Income
- 74821
- Gross Income
- 118800
- Water Class
- N/A
Status Change Info
- Ratified Contract Dt
- 2025-04-29
- Sold Date
- 2025-08-04
Internet Access
- Cur'nt Internet Prov
- Glow Fiber
Miscellaneous Info
- Public Transport
- Yes
More Information
Expenses
- Maintenance Exp
- 8000
- Tax Exp
- 4279
- Insurance Exp
- 7200
- Electric Exp
- 2750
- Gas Exp
- 1500
- Water Exp
- 2250
- Other Exp
- 14000
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
- Yes
Construction
- Brick
- Yes
Basement
- Dirt Floor
- Yes
- Full
- Yes
Views
- City
- Yes
Heating
- Forced Air Gas
- Yes
- Heat Pump Electric
- Yes
Misc Features
- Wireless Internet
- Yes
Cooling
- Central Air
- Yes
Water Description
- Public
- Yes
Sewer Description
- Public Sewer
- Yes
Water Heater Type
- Tank
- Yes
Water Heater Energy
- Natural Gas
- Yes
Lease Type
- Other - See Remarks
- Yes
Owner Expenses
- Management Fee
- Yes
- Water
- Yes
- Other - See Remarks
- Yes
Interior Features
- Bookcases
- Yes
- Ceiling Fan(s)
- Yes
- Walk-In Closet(s)
- Yes
- Other - See Remarks
- Yes
Tenant Expenses
- None
- Yes
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: March - 25 - 2026
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