2404 Longview Ave SW - Multi-Family FOR SALE


Roanoke, VA 24014- South Roanoke
$1,995,000 USD
540-314-1739
2404 Longview Ave SW, Roanoke, VA for Sale
$1,995,000 USD
Multi-Family - FOR SALE
1/13
null | 7.63% Cap Rate

2404 Longview Ave SW
Roanoke, VA 24014
South Roanoke


HIGHLIGHTS

  • Excellent Location
  • Solid Construction and Well-Maintained by Long-term Owner
  • 2 BR/1B Units with Single Floorplan Throughout
  • Value Add Opportunity: Below Market Rents and Vacancy

OVERVIEW

18 unit apartment property located in the sought-after neighborhood of South Roanoke. The property consists of three connected, 3-story brick buildings around a central courtyard. All of units are 2-bedroom, 1-bath units with a compact kitchen and separate dining and living areas. Significant Improvements to the buildings' infrastructure were made in 2013, including new roofs, HVAC, and updated electric. Other recent improvements (within the past 24 months) include two new central boilers, new windows, and updates to units during turnovers, such as paint and LVP. Demand for rentals in this area is very strong due to its central location, the neighborhood appeal, and the proximity to the region's largest employer, Carilion Clinic.

FOR SALE DETAILS

PRICE

$1,995,000 USD

PRICE/SF

$108 USD /SF

# OF UNITS

18

PRICE/UNIT

$110,833

CAP RATE

7.63%

% LEASED

39%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

South Roanoke Multifamily: 18 Units

PROPERTY TYPE

Multi-Family

ADD'L SUBTYPES

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1947

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.48 AC

LAND SF

20,909 SF

ZONING

RM-2

APN/PARCEL ID

1051903

ASK ABOUT THIS PROPERTY

Krista VannoyWaldvogel Commercial Properties, Inc.More Info
540-314-1739

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Krista VannoyWaldvogel Commercial Properties, Inc.More Info
540-314-1739

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.