602 Day AVE SW, Roanoke, VA 24016

$950,000

Property Type: MultiFamily Lot Size (sq. ft.): 19,602 Status: Closed

Current Price: $950,000 List Date: 2/19/2019 Last Modified: 9/22/2024

Overview

Description

17 unit brick, garden apartment building with 11 x 1BR/1BA units & 6 x 2BR/1BA units + on site coin laundry. Currently 1BR units rent between $550-$565 & 2BR units rent between $650-$675. The property was gutted & completely renovated within the last 10 years, including all major systems, including new central HVAC units, kitchens, & baths, as well as the addition of laundry facilities on site. The property is stable & performing well under professional management. Each unit has central HVAC & individual electric. Owner pays water/sewer, house electric only, & dumpster only. Turnkey property with additional upside available by continued cosmetic upgrades to unit interiors.

Listing Details MLS# 856181

Location, Tax & Legal

Area: 0130 - City of Roanoke - SW
Street Number: 602
Street Name: Day
Street Suffix: AVE
Street Direction Sfx: SW
State/Province: VA
Zip Code: 24016
Subdivision: Old Southwest
Municipality: City of Roanoke
Elementary School: Wasena
Middle School: James Madison
High School: Patrick Henry
Major Area: 01 - City of Roanoke
Phase: 0
Lot: 12-14
Block: 3
Tax ID: 1120513
Annual Taxes: 7433
Section: No
Zoning Code: RM-2
POA Y/N: No

General Property Description

Multi-Family Type: Apartments
Construction Status: Completed
Year Built: 1986
Present Use: Built-As
Number of Units: 17
# Unfurnished: 17
# Leased Units: 16
Gross Bldg SQFT: 12240
Lot Dimensions: 150 x 130
Total Acreage: 0.45
Basement Y/N: No
Parking Description: Private (10 or More)
# Vehicle Spaces: 17
Operating Expense: 40367
Net Operating Income: 74941
Gross Income: 115308
Water Class: N/A
# Furnished: 0

Status Change Info

Ratified Contract Dt: 2019-03-01
Sold Date: 2019-05-02

Expenses

Management Exp: 9225
Maintenance Exp: 11531
Tax Exp: 7433
Insurance Exp: 3593
Electric Exp: 1663
Water Exp: 3145
Other Exp: 3778

Remarks & Misc

Directions: Corner of 6th Street SW & Day Ave SW

More Information

Limited Service

Not Limited Service: Yes

Construction

Brick: Yes

Basement

Slab: Yes

Heating

Forced Air Electric: Yes

Cooling

Central Air: Yes

Water Description

Public: Yes

Sewer Description

Public Sewer: Yes

Water Heater Type

Tank: Yes

Water Heater Energy

Electric: Yes

Owner Expenses

Sewer: Yes
Trash Disposal: Yes
Water: Yes

Tenant Expenses

Air Conditioning: Yes
Electricity: Yes
Heating: Yes

Property Features

Limited Service: Not Limited Service Construction: Brick Basement: Slab Heating: Forced Air Electric Cooling: Central Air Water Description: Public Sewer Description: Public Sewer Water Heater Type: Tank Water Heater Energy: Electric Owner Expenses: Trash Disposal; Water Tenant Expenses: Air Conditioning; Electricity; Heating

Listing Office: WALDVOGEL COMMERCIAL PROPERTIES

Last Updated: September - 22 - 2024

All searches are performed on live data on the MLS server. Although the Multiple Listing Service of The Roanoke Valley is the single source for these listings, listing data appearing on this website does not necessarily reflect the entirety of all available listings within the Multiple Listing Service. All listing data is refreshed daily, but its accuracy is subject to market changes. All copyrights and intellectual property rights are the exclusive property of the Multiple Listing Service of The Roanoke Valley. Whether obtained from a search result or otherwise, visitors to this website may only use this listing data for their personal, non-commercial benefit. The unauthorized retrieval or use of this listing data is prohibited.

602 Day AVE SW, Roanoke, VA 24016 (MLS# 856181)