225 E Murray ST & 229, Fincastle, VA 24090
$755,000
Property Type:
MultiFamily
Lot Size (sq. ft.):
50,094
Status:
Closed
Current Price:
$755,000
List Date:
7/21/2021
Last Modified:
9/26/2024
Description
12 unit apartment complex in very desirable location, Top apartment is former Central Academy school which was transformed to apartments in 1970, Great investment opportunity and income could rise as rent has not increased in the last 4 years! Recent upgrades include: Paved parking lot with individual parking spots painted. New metal roof on upper apartment building installed in 2020. New roof on lower apartment building installed in 2018. Ten new HVAC units out of the 12 installed within the last 5 years. New guttering on both buildings. Upper building has two 2 bedroom apartments, one two bedroom and 2 one bedroom apartments. Lower building has 7 two bedroom apartments.
More Information MLS# 882128
General Property Description
Multi-Family Type: Apartments
Construction Status: Completed
Total Acreage: 1.15
# Furnished: 0
# Unfurnished: 12
# Leased Units: 12
Gross Bldg SQFT: 4590
Basement Y/N: No
Water Class: N/A
Parking Description: Private (10 or More)
# Vehicle Spaces: 20
Gross Income: 78720
Year Built: 1970
Number of Units: 12
Operating Expense: 11200
Net Operating Income: 67520
Location, Tax & Legal
Major Area: 07 - Botetourt County
Unit #: & 229
Phase: 0
Lot: 108-109
Block: 0
Tax ID: 73A(1)75
Annual Taxes: 4298
Section: 0
POA Y/N: No
Area: 0700 - Botetourt County
Street Number: 225
Street Direction Pfx: E
Street Name: Murray
Street Suffix: ST
State/Province: VA
Zip Code: 24090
Subdivision: N/A
Municipality: Botetourt County
Elementary School: Breckinridge
Middle School: Central Academy
High School: James River
Remarks & Misc
Directions: 220 North to Fincastle, right on South Church Street beside the Happy Food Mart, Right on Murray Street to apartment complex at top of hill.
Limited Service
Not Limited Service: 1
Construction
Vinyl: 1
Wood: 1
Basement
Crawl Space: 1
Views
Mountain(s): 1
Heating
Heat Pump Electric: 1
Misc Features
Current Lease: 1
Pet Allowed: 1
Miscellaneous Info
Public Transport: No
Cooling
Central Air: 1
Water Description
Public: 1
Sewer Description
Public Sewer: 1
Water Heater Energy
Electric: 1
Lease Type
Month To Month: 1
Owner Expenses
Trash Disposal: 1
Water: 1
Interior Features
Ceiling Fan(s): 1
Storage: 1
Internet Access
Cable: 1
Tenant Expenses
All Utilities: 1
Cable TV: 1
Deposit: 1
Expenses
Maintenance Exp: 1500
Tax Exp: 4298
Electric Exp: 240
Water Exp: 3360
Other Exp: 1800
Contract Information
Current Price: $755,000
Sold Price: $755,000
List Date: 2021-07-21
Status: Closed
Status Change Info
Ratified Contract Dt: 2021-08-16
Sold Date: 2021-10-15
Sold Price: $755,000
Property Features
Limited Service: Not Limited Service
Construction: Vinyl; Wood
Basement: Crawl Space
Heating: Heat Pump Electric
Cooling: Central Air
Water Description: Public
Sewer Description: Public Sewer
Water Heater Energy: Electric
Lease Type: Month To Month
Owner Expenses: Trash Disposal; Water
Interior Features: Ceiling Fan(s); Storage
Misc Features: Current Lease; Pet Allowed
Internet Access: Cable
Views: Mountain(s)
Tenant Expenses: All Utilities; Cable TV; Deposit
Listing Office:
MKB, REALTORS®
Last Updated: September - 26 - 2024
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