2353 Mountain View TER SW & 2363, Roanoke, VA 24015
$1,087,500
Property Type:
MultiFamily
Lot Size (sq. ft.):
35,719
Status:
Closed
Current Price:
$1,087,500
List Date:
11/07/2015
Last Modified:
9/18/2024
Overview
Description
30x1 BR multifamily investment opportunity located in the heart of SW Roanoke City near historic Grandin Village. Property consists of two low-maintenance brick buildings situated on slab with off-street parking, central HVAC, & coin laundry. Some units have been upgraded with elegant tile backsplashes, modern appliances, & new laminate flooring. Current average rent is only $450, presenting a significant revenue growth opportunity through gradually increasing rents to market rate. With strong rental demand and historic performance, this asset pairs predictable cash flows with the potential to add value.
Listing Details MLS# 820688
Location, Tax & Legal
- Area
- 0130 - City of Roanoke - SW
- Street Number
- 2353
- Street Name
- Mountain View
- Street Suffix
- TER
- Street Direction Sfx
- SW
- State/Province
- VA
- Zip Code
- 24015
- Subdivision
- Virginia Heights
- Municipality
- City of Roanoke
- Elementary School
- Virginia Heights
- Middle School
- Woodrow Wilson
- High School
- Patrick Henry
- Major Area
- 01 - City of Roanoke
- Unit #
- & 2363
- Phase
- 0
- Subdivision Map
- No
- Lot
- 1 & 2
- Block
- No
- Tax ID
- 1430103, 1430104
- Annual Taxes
- 10114
- Section
- No
- Zoning Code
- RMF
- POA Y/N
- No
General Property Description
- Multi-Family Type
- Apartments
- Construction Status
- Completed
- Year Built
- 1971
- Present Use
- Built-As
- Number of Units
- 30
- # Unfurnished
- 30
- # Leased Units
- 26
- Gross Bldg SQFT
- 16698
- Lot Dimensions
- Irregular
- Total Acreage
- 0.82
- Basement Y/N
- No
- Parking Description
- Private (10 or More)
- # Vehicle Spaces
- 30
- Operating Expense
- 50146
- Net Operating Income
- 103754
- Gross Income
- 162000
- Water Class
- N/A
- # Furnished
- 0
Status Change Info
- Ratified Contract Dt
- 2015-12-01
- Sold Date
- 2016-04-08
Expenses
- Management Exp
- 12312
- Maintenance Exp
- 7969
- Tax Exp
- 10114
- Insurance Exp
- 3465
- Electric Exp
- 1224
- Water Exp
- 6931
Remarks & Misc
- Directions
- Pass Grandin Road on Memorial. Turn right onto Faquier Street and continue until it becomes Mountain View Terrace. Property on the left.
More Information
Limited Service
- Not Limited Service
- Yes
Construction
- Brick
- Yes
Basement
- Slab
- Yes
Views
- Mountain(s)
- Yes
Heating
- Heat Pump Electric
- Yes
Cooling
- Heat Pump Electric
- Yes
Water Description
- Public
- Yes
Sewer Description
- Public Sewer
- Yes
Water Heater Type
- Tank
- Yes
Water Heater Energy
- Electric
- Yes
Owner Expenses
- Sewer
- Yes
- Water
- Yes
Tenant Expenses
- Air Conditioning
- Yes
- Electricity
- Yes
- Heating
- Yes
Property Features
Limited Service:
Not Limited Service
Construction:
Brick
Basement:
Slab
Heating:
Heat Pump Electric
Cooling:
Heat Pump Electric
Water Description:
Public
Sewer Description:
Public Sewer
Water Heater Type:
Tank
Water Heater Energy:
Electric
Owner Expenses:
Water
Views:
Mountain(s)
Tenant Expenses:
Air Conditioning; Electricity; Heating
Listing Office:
WALDVOGEL COMMERCIAL PROPERTIES
Last Updated: September - 18 - 2024
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