433 Albemarle AVE SW, Roanoke, VA 24016
$469,000
Property Type:
MultiFamily
Lot Size (sq. ft.):
6,534
Status:
Active
Current Price:
$469,000
List Date:
7/07/2026
Last Modified:
8/25/2026
Overview
Description
Listing Details MLS# 929212
Location, Tax & Legal
- Area
- 0130 - City of Roanoke - SW
- Street Number
- 433
- Street Name
- Albemarle
- Street Suffix
- AVE
- Street Direction Sfx
- SW
- State/Province
- VA
- Zip Code
- 24016
- Subdivision
- Old Southwest
- Municipality
- City of Roanoke
- Elementary School
- Highland Park
- Middle School
- James Madison
- High School
- Patrick Henry
- Major Area
- 01 - City of Roanoke
- Phase
- 17
- Lot
- 3
- Block
- 2
- Tax ID
- 102-2514
- Annual Taxes
- 4800
- Section
- N/A
- Zoning Code
- RM-1
- POA Y/N
- No
General Property Description
- Multi-Family Type
- Apartments
- Construction Status
- Completed
- Year Built
- 1913
- Number of Units
- 6
- # Unfurnished
- 6
- # Leased Units
- 6
- Gross Bldg SQFT
- 3128
- Total Acreage
- 0.15
- Basement Y/N
- Yes
- Parking Description
- Unpaved
- Operating Expense
- 20785.19
- Net Operating Income
- 37522.6
- Gross Income
- 57060
- Water Class
- N/A
- # Furnished
- 0
Remarks & Misc
- Public Remarks
- Stabilized 6-unit multifamily with a 7.00% cap rate on current income and projected 8.00% at market rents. Current NOI of $33,421 grows to $37,522 with modest rent adjustments on a tenant-occupied, income-producing asset in Roanoke's established Old Southwest neighborhood. Mix of 1BR and 2BR units including garage apartments with strong tenant retention. Stabilized and tenant-occupied. Income producing from day one.
- Directions
- 433 Albemarle AVE SW, Roanoke, VA 24016
Limited Service
- Not Limited Service
- Yes
Construction
- Wood
- Yes
More Information
Basement
- Dirt Floor
- Yes
- Full
- Yes
Heating
- Forced Air Electric
- Yes
Cooling
- Central Air
- Yes
Water Description
- Public
- Yes
Sewer Description
- Public Sewer
- Yes
Owner Expenses
- Electricity
- Yes
- Management Fee
- Yes
- Water
- Yes
Tenant Expenses
- None
- Yes
Property Features
Limited Service:
Not Limited Service
Construction:
Wood
Basement:
Dirt Floor; Full
Heating:
Forced Air Electric
Cooling:
Central Air
Water Description:
Public
Sewer Description:
Public Sewer
Owner Expenses:
Electricity; Management Fee; Water
Tenant Expenses:
None
Listing Office:
INVESTORS REAL ESTATE PARTNERS LLC
Last Updated: August - 25 - 2026
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