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
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