225 E Murray ST & 229, Fincastle, VA 24090
$755,000
Property Type:
MultiFamily
Lot Size (sq. ft.):
50,094
Status:
Closed
Current Price:
$755,000
List Date:
7/21/2021
Last Modified:
9/26/2024
Description
12 unit apartment complex in very desirable location, Top apartment is former Central Academy school which was transformed to apartments in 1970, Great investment opportunity and income could rise as rent has not increased in the last 4 years! Recent upgrades include: Paved parking lot with individual parking spots painted. New metal roof on upper apartment building installed in 2020. New roof on lower apartment building installed in 2018. Ten new HVAC units out of the 12 installed within the last 5 years. New guttering on both buildings. Upper building has two 2 bedroom apartments, one two bedroom and 2 one bedroom apartments. Lower building has 7 two bedroom apartments.
More Information MLS# 882128
Contract Information
Current Price: $755,000
Sold Price: $755,000
List Date: 2021-07-21
Status: Closed
General Property Description
Multi-Family Type: Apartments
Construction Status: Completed
Year Built: 1970
Number of Units: 12
# Unfurnished: 12
# Leased Units: 12
Gross Bldg SQFT: 4590
Total Acreage: 1.15
Basement Y/N: No
Parking Description: Private (10 or More)
# Vehicle Spaces: 20
Operating Expense: 11200
Net Operating Income: 67520
Gross Income: 78720
Water Class: N/A
Location Legal Taxes
Area: 0700 - Botetourt County
Street Number: 225
Street Direction Pfx: E
Street Name: Murray
Street Suffix: ST
State/Province: VA
Zip Code: 24090
Subdivision: N/A
Municipality: Botetourt County
Elementary School: Breckinridge
Middle School: Central Academy
High School: James River
Status Change Info
Ratified Contract Dt: 2021-08-16
Sold Date: 2021-10-15
Sold Price: $755,000
Miscellaneous Info
Public Transport: No
Expenses
Maintenance Exp: 1500
Tax Exp: 4298
Electric Exp: 240
Water Exp: 3360
Other Exp: 1800
Property Features
Limited Service: Not Limited Service
Construction: Vinyl; Wood
Basement: Crawl Space
Heating: Heat Pump Electric
Cooling: Central Air
Water Description: Public
Sewer Description: Public Sewer
Water Heater Energy: Electric
Lease Type: Month To Month
Owner Expenses: Trash Disposal; Water
Interior Features: Ceiling Fan(s); Storage
Misc Features: Current Lease; Pet Allowed
Internet Access: Cable
Views: Mountain(s)
Tenant Expenses: All Utilities; Cable TV; Deposit
Listing Office: MKB, REALTORS®
Last Updated: September - 26 - 2024
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