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
Overview
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.
Listing Details MLS# 882128
Location, Tax & Legal
- 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
- Major Area
- 07 - Botetourt County
- Unit #
- & 229
- Phase
- 0
- Lot
- 108-109
- Block
- No
- Tax ID
- 73A(1)75
- Annual Taxes
- 4298
- Section
- No
- POA Y/N
- No
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
- # Furnished
- 0
Status Change Info
- Ratified Contract Dt
- 2021-08-16
- Sold Date
- 2021-10-15
Miscellaneous Info
- Public Transport
- No
Expenses
- Maintenance Exp
- 1500
- Tax Exp
- 4298
- Electric Exp
- 240
- Water Exp
- 3360
- Other Exp
- 1800
More Information
Remarks & Misc
- Directions
- 220 North to Fincastle, right on South Church Street beside the Happy Food Mart, Right on Murray Street to apartment complex at top of hill.
Limited Service
- Not Limited Service
- Yes
Construction
- Vinyl
- Yes
- Wood
- Yes
Basement
- Crawl Space
- Yes
Views
- Mountain(s)
- Yes
Heating
- Heat Pump Electric
- Yes
Misc Features
- Current Lease
- Yes
- Pet Allowed
- Yes
Cooling
- Central Air
- Yes
Water Description
- Public
- Yes
Sewer Description
- Public Sewer
- Yes
Water Heater Energy
- Electric
- Yes
Lease Type
- Month To Month
- Yes
Owner Expenses
- Trash Disposal
- Yes
- Water
- Yes
Interior Features
- Ceiling Fan(s)
- Yes
- Storage
- Yes
Internet Access
- Cable
- Yes
Tenant Expenses
- All Utilities
- Yes
- Cable TV
- Yes
- Deposit
- Yes
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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