410-693-1375
777 Roanoke Blvd, Salem, VA for Sale
Apartments - FOR SALE
1/26
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777 Roanoke Blvd
Salem, VA 24153


HIGHLIGHTS

  • The View at 777 is less than 5 minutes away from the brand-new, $50M redevelopment project, Valleydale Apartments.
  • The View at 777 has assumable fixed-rate financing with a below market interest rate and a well-sized Loan-to-Value ratio.
  • Current ownership has invested more than $580,000 in Capital Expenditures on unit renovations & turns, granite countertops and new sinks, parking lot.
  • The strength and growth of the Roanoke economy have correlated with strong demand for rental housing in the region.

OVERVIEW

Cushman & Wakefield’s Mid-Atlantic Multifamily Advisory Group in conjunction with Thalhimer’s Capital Markets Group is pleased to present The View at 777 (the “Property”), a renovated, upscale 72-unit apartment community in the desirable City of Salem submarket of the high-growth Roanoke, Virginia MSA. The investment offers attractive, assumable fixed-rate financing appropriately sized at a below market interest rate. Current ownership has invested over $575,000 in capital improvements, transforming The View at 777 into a best-in-class community that appeals to more affluent tenants. The property has undergone comprehensive renovations in recent years, including extensive exterior improvements and systems-level replacements as well as in-unit upgrades. Theses strategic enhancements position The View at 777 as a standout performer within its competitive set and have directly correlated with meaningful rent growth. Located less than a mile from walkable downtown Salem, the cultural and economic hub of the submarket, The View at 777 also benefits from proximity to a wide variety of cultural, educational, and healthcare institutions, along with strong employment drivers. The MSA is currently experiencing a historic economic expansion with employment growth surpassing Virginia’s average, and total employment at an all-time high. This trend is expected to continue with several high-profile economic developments underway. With all major capital expenditures complete, The View at 777 is poised for long-term operational stability and revenue growth, offering investors a rare opportunity to acquire a fully repositioned turnkey asset in one of the region’s most desirable submarkets with strong cash flow based on attractive assumable financing and value appreciation potential.

FOR SALE DETAILS

PRICE

Request Info for Price

# OF UNITS

72

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

The View at 777

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1972

PARKING SPACES

100

LAND DETAILS

LAND ACRES

3.81 AC

LAND SF

165,964 SF

ZONING

RMF

APN/PARCEL ID

158-1-1

ASK ABOUT THIS PROPERTY

Anthony LibertoCushman & WakefieldMore Info
410-693-1375

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Anthony LibertoCushman & WakefieldMore Info
410-693-1375

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